Sales of Houses in Ohio Jump 10.2% in February
COLUMBUS, Ohio -- The number of houses sold across Ohio jumped more than 10% in February as the market posted gains in activity for the 20th consecutive month, the Ohio Association of Realtors reports. Houses sold in the Mahoning Valley dropped 0.8%, however.
“We continue to make progress in building a solid foundation for a sustainable and growing housing market in Ohio,” said Thomas J. Williams, president of the Ohio Association of Realtors. “Buyers are taking advantage of the ideal conditions in today’s marketplace, historic low interest rates and attractive pricing. Additionally, there’s a renewed sense -- that housing remains a wise long-term investment.”
Sales in February reached 7,363, a 10.2% increase from the 6,681 posted during the month in 2012. The average sales price, $125,061, was a 7.9% increase from the $115,932 in February 2012.
Sales through the first two months of 2013 reached 14,624, a 14.3% increase from the same period a year ago. The average sales price (January and February) this year is $122,748, a 6.1% increase.
Total dollar volume this year is nearly $1.8 billion, a 21.3% increase from the two-month mark of a year ago of nearly $1.5 billion.
In the Northeast Ohio Real Estate Exchange, which encompasses Trumbull, Mahoning and Columbiana counties, 2,105 houses were sold compared with 2,122 last February. Total dollar volume is $261,556,331, up 14% over last year. The average sale price is $124,255 versus $108,162 in February 2012.
“The ongoing recovery of the Ohio housing market is widespread, with 17 of the 20 markets we track showing gains in activity so far in 2013 and our prices rising in 15 of our reporting areas,” Williams noted.
A recent survey of the state’s real estate agents suggests that the industry remains optimistic about the coming months, Williams added. The OAR Housing Market Confidence Index, a survey that tracks the perception Ohio Realtors have of the marketplace, offers these highlights in the March report:
93% of real estate agents describe the housing market in their areas as moderate to strong, a significant increase from the 77% mark posted during the month a year ago. This month’s Realtor Current Market Index measurement reached a record high 62, an 18-point improvement from the March 2012 score of 44.
97% of agents believe home prices over the next year will remain stable and could even post gains, 15 percentage points above the findings in March 2012 (of 82%).
Published by The Business Journal, Youngstown, Ohio.
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