Home sales activity across Ohio remains robust in August

On September 22, 2016



By Carl Horst, OAR Director of Publications/Media Relations


The number of homes sold across Ohio in August declined a marginal 1.4 percent from the level posted during the month a year ago, according to the Ohio Association of REALTORS.
Additionally, home sales activity in August decreased 2.1 percent from the level reached in July 2016.


“Home sales activity throughout Ohio remains strong, as the August marketplace attained the third best rate of sales since we began recording data in 1998,” said OAR President Sara Calo. “It’s apparent that we’ve have built a solid foundation for Ohio’s housing sector, one that is able to withstand the normal ebbs and flows that occur in the marketplace.”
“Equally important, the market is continuing to experience a steady but modest rise in the average sales price.”


August’s average home price of $168,212 reflects a 4.5 percent increase from the $160,922 mark posted during the month last year.


Sales in August reached a seasonally adjusted annual rate of 143,714, a slight 1.4 percent decline from the 145,698 level reached during the month a year ago.
The market also experienced a 2.1 percent drop in sales from July’s seasonally adjusted annual rate of 146,746.


Around the state, 16 of the 18 markets tracked reported upswings in average sales price. The rate of home sales increased in 11 markets compared to August 2015.


Data provided to OAR by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops. The Ohio Association of REALTORS, with more than 29,000 members, is the largest professional trade association in Ohio.


Click here to view OAR’s seasonally adjusted Ohio home sales report. To access a market-by-market analysis of sales activity throughout Ohio, click here.