House Sales Rise 12% in Region Last Year
COLUMBUS, Ohio -- Sales of houses in Ohio sales rose 14.7% last year over the level of 2012 and the average sales price increased 5.2% statewide, the Ohio Association of Realtors reports. In the local market, sales jumped 12% and the average price rose 5.9%.
“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, in a prepared statement. “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.”
In the local Northeast Ohio Real Estate Exchange, which constitutes 16 counties including Mahoning, Trumbull and Columbiana, 42,467 new and existing units were sold last year for a $5,765,343,771; the average selling price was $135,761, up 5.9%.
For December 2013, 3,167 units were sold locally, up 12.5% over December 2012. The total dollar volume of $413,013,784 was 10.8% above last year while the average sale price of $130,412 dropped 1.5%.
Statewide, sales in the fourth-quarter 2013 increased 6.7%, reaching 29,989 compared to a year ago. It marks the best fourth quarter since 2006 when sales reached 31,798. This marks the 10th consecutive quarter of year-over-year gains. Sales in December reached 9,317, a 9.7% increase. The December increase marks the 30th consecutive month of year-over-year gains in sales, the longest stretch of uninterrupted growth since the Realtors began collecting sales data 16 years ago. The average sales price of $139,805 was a 5.4% increase from December 2012.
Published by The Business Journal, Youngstown, Ohio.
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