2014-02-01 / News

Ohio housing market continues to improve

COLUMBUS – The Ohio housing market was filled with a number of positives in 2013, as sales activity rose 14.7 percent over the level of the prior year and the average sales price increased 5.2 percent state-wide, according to the Ohio Association of REALTORS.

“The Ohio housing market is continuing to make headway in its effort to overcome the difficulties caused by the economic downturn,” said Chris Hall, president of the Ohio Association of REALTORS. “While we continue to face a number of challenges on our path to full recovery, Ohio’s year-end 2013 sales results are reflective of a balanced, stable and growing marketplace.”

Year-end 2013 sales of new and existing homes (January through December) totaled 132,566, a 14.7 percent increase from the 115,565 sales posted in 2012, the market’s best yearly total since 2007 (when sales reached 132,571).

The state’s average sale price (January-December) of $142,004 marks a 5.2 percent increase from the $135,042 average posted in 2012. Total dollar volume topped $18.8 billion, a 20.6 percent increase from the $15.6 billion posted a year earlier.

Sales in the fourth quarter 2013 increased 6.7 percent, reaching 29,989 compared to the 28,117 sales posted during the period a year ago. It marks the best results for the fourth quarter since 2006, when sales reached 31,798. This marks the 10th consecutive quarter of year-over-year gains.

Sales in December 2013 reached 9,317, a 9.7 percent increase from the 8,496 sales posted during the month in 2012. The December increase marks the 30th consecutive month of year-over-year gains in sales, the longest stretch of uninterrupted growth since OAR began collecting sales data 16 years ago. The average sales price of $139,805 was a 5.4 percent increase from the $132,698 average price posted in December 2012.

Data provided to OAR by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/coops.

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