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Sales of Houses Up 5.6% in September Across Ohio
COLUMBUS, Ohio – Sales of houses throughout Ohio increased 5.6% in September, helping the market record its 15th consecutive monthly sales gain. Sales of new and existing houses posted a 12% increase during the first nine months of this year compared to the same period a year ago, reaching 84,582 sales.
Figures are provided by the state’s Multiple Listing Services.
“For our marketplace to attain 15 straight months of home sales gains is noteworthy as it marks the longest uninterrupted period of sales growth we’ve experienced in Ohio since we began tracking sales in 1998,” said Robert U. Miller, president of the Ohio Association of Realtors. “It’s becoming more evident with each passing month that the Buckeye State is building a solid foundation for a sustainable, growing housing marketplace.
Sales in September reached 9,466, a 5.6% increase from the 8,962 sales posted in September 2011. The average sales price of $138,025 is a 5.3% increase from the September 2011 mark of $130,700. Total dollar volume reached $1.3 billion, an 11.5% increase from the $1.2 billion mark posted a year ago.
Not only have sales levels during the first nine months surpassed the pace of a year ago, the average sales price (January through September) this year is up 4.5%, reaching $135,627 versus the 2011 mark of $129,587. Total dollar volume this year is $11.5 billion, a 17.3% increase from last year’s nine-month mark of $9.8 billion.
Sales activity during the third quarter increased 10.8% from the level reached during the same three months a year ago. It marks the fifth straight quarter the Ohio marketplace has posted sales gains.
A recent survey of the state’s real estate professionals suggests the industry remains cautiously optimistic about the outlook in the near future, Miller noted. Highlights of the OAR Housing Market Confidence Index, a recently created measurement of the perception Ohio Realtors have of the marketplace, include:
- 85% of realtors describe the housing market in their area as moderate to strong, a significant increase from the 53% mark posted a year ago. This month’s Realtor Current Market Index reached 49, a 22-point improvement from the October 2011 score of 27.
- 83% have moderate to strong expectations for their market in the next six months, an increase of 34 percentage points from the October 2011 level of 49%.
- 94% believe prices over the next year will remain stable and could even post gains, an increase of 20 percentage points than the findings in October 2011.
The Ohio Association of Realtors, with 26,000 members, is the largest professional trade association in Ohio.
Published by The Business Journal, Youngstown, Ohio.