Welcome to the Business Journal Archives
Search for articles below, or continue to the all new BusinessJournalDaily.com now.
Search
Ohio Realtors Report 23rd Straight Month of Gains
COLUMBUS, Ohio – The residential real estate market in Ohio posted year-over-year gains for the 23rd consecutive month, as the number of houses sold statewide rose 16.2% in May, the Ohio Association of Realtors reports.
“With each passing month, the Ohio housing market is continuing to make significant, steady progress in its effort to fully recover from the economic challenges wrought by the recession,” said Thomas J. Williams, OAR president. “Attaining 23 consecutive months of gains in sales activity -- our longest stretch in uninterrupted growth in 16 years of tracking Ohio home sales -- is a clear indicator of growing consumer confidence and a renewed appreciation that housing is a solid, long-term investment.
Sales through the first five months of 2013 reached 48,255, a 15.8% increase over the 41,665 sales posted during the same period a year ago. The average sale price (January through May) this year is $133,747, up 6.3% from the $125,846 mark set during the period a year ago. Total dollar volume this year is nearly $6.5 billion, a 23.1% increase from the five-month mark of a year ago of $5.2 billion.
“Throughout Ohio we’re experiencing gains in both activity levels and average sales price, with 17 of the 20 markets we track showing improvement so far in 2013,” Williams said. “Having so many of our individual markets record positives in a state as diverse as Ohio -- with its unique blend of big urban markets and smaller, rural locales -- is yet another positive indication that the Buckeye State is making significant headway in its recovery effort.”
Hitting the best mark since 2007, sales in May reached 12,820, a 16.2% increase from the 11,029 sales posted during the month in 2012. The average sale price of $148,143 represents a 9.3% increase from the $135,560 average price posted in May 2012.
Published by The Business Journal, Youngstown, Ohio.
CLICK HERE to subscribe to our free daily email headlines and to our twice-monthly print edition.