Ohio home sales rise 16.2 percent
Ohio Association of Realtors news
The number of homes sold across Ohio rose 16.2 percent in May, as the market posted year-over-year gains in activity for the 23rd consecutive month, according to the Ohio Association of Realtors.
“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, president of the Ohio Association of Realtors. “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 percent increase from the 41,665 sales posted during the same period a year ago. The average sales price (January through May) this year is $133,747, a 6.3 percent increase 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 percent increase from the five-month mark 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.”
Sales in May reached 12,820; a 16.2 percent increase from the 11,029 sales posted during the month in 2012, and reached the best mark since 2007. The average sales price of $148,143 is a 9.3 percent increase from the $135,560 average price posted in May 2012.
Data provided to OAR by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops. The Ohio Association of Realtors, with more than 26,000 members, is the largest professional trade association in Ohio.
To view a market-by-market analysis of sales activity throughout Ohio and local contact information, go to http://www.ohiorealtors.org/wp-content/uploads/Stats/13HS/May13Vocus.pdf.