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House Sales Climb Slightly in Northeast Ohio Region
COLUMBUS, Ohio -- The number of houses sold across Ohio in February fell 4.3% from the level posted during the month a year ago. Statewide sales dropped 2.9% from last month.
“Extreme winter conditions played a role in cooling homes sales activity throughout Ohio, as our level of activity slid slightly for the second consecutive month,” said Chris Hall, president of the Ohio Association of Realtors.
“A survey of the state’s real estate professionals conducted during the month found that two-thirds of respondents indicated that the cold, snowy conditions resulted in a marked decline in home buying activity. Additionally, it’s apparent that the marketplace, as a whole, is becoming more balanced following an unprecedented streak of 30 months of year-over-year gains. The ongoing stabilization of the state’s housing sector will result in traditional ebbs and flows in activity," he said.
February’s average home price of $130,082 reflects a 4% increase from the $125,061 mark posted during the month last year.
In the northeast Ohio region, which represents 17 counties including Mahoning, Trumbull and Columbiana, a total of 2,151 units were sold in February, up 2.2% from a year ago. Total dollar volume of $251,530,555, however, represents a drop of 3.8% over February 2013, and the average sale price of $116,937 is down by 5.9%.
Last month, a total of 4,398 units were sold in the 17-county region, up 1.9% over January. The dollar volume of $521,146,807 is up 0.9%, but the average selling price of $118,496 is a drop of 1%.
Around the state, 16 of the 20 markets tracked reported declines in sales activity levels. The average sales price increased in 14 markets.
Published by The Business Journal, Youngstown, Ohio.
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