Dollar Volume Rises 21% for Area Home Sales in May
YOUNGSTOWN, Ohio – The total value of homes sold last month in the region was up 21% from a year earlier, driven by gains in Mahoning and Columbiana sales.
Data compiled by the Youngstown Columbiana Association of Realtors and the Warren Area Board of Realtors released Tuesday showed dollar volume of home sales in May in Mahoning, Trumbull and Columbiana counties totaled $43.9 million, up from $36.2 million a year earlier and up from $32.5 million in April of this year. In the three counties, 460 units were sold in May, up 11% from 414 a year earlier and up from 391 in April.
Mahoning County saw the largest gain in dollar volume last month. Sales totaled $23.6 million, up from $17.4 million in May 2012 and up from $17.9 million in April. In Columbiana County, total sales in May were up 50% from a year earlier, nearly $5.9 million last month compared with $3.9 million in May 2012, and up from $4.5 million in April. Trumbull County’s sales volume was down from a year earlier. Totaling $14.5 million last month compared with $14.9 million in May 2012 and down from April’s $10.2 million.
Unit sales increased in Mahoning County, 239 in May compared with 189 a year earlier and 202 in April. Trumbull’s unit sales were down slightly from a year earlier, 161 last month compared with 165 in May 2012, but up from 130 in April. The 60 units sold in Columbiana County last month was unchanged from the figure a year earlier and up by one from April’s 59.
Average sale prices saw their greatest gains in Columbiana County last month. In May, the average sale price in the county was $97,381, up from $65,131 a year earlier and up from $75,478 in April. In Mahoning County, the average sale price last month was $98,498, up from $91,774 in May 2012 and up from $88,422 in April. In Trumbull County, the average sale price dipped slightly from a year ago, $90,194 compared with $90,502 in May 2012, but was up from April’s $78,237.
Sale prices in May ranged from $1,500 to $750,000 in Mahoning County, from $10,000 to $623,500 in Trumbull County, and from $8,000 to $265,000 in Columbiana County.
Copyright 2013 The Business Journal, Youngstown, Ohio.
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