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Home Sales Activity Across Ohio Reaches Best-Ever Level in March

Chad Schneider, 2017 President, Lorain County Association of REALTORS®

Chad Schneider 2017 LoCAR President

by Chad Schneider
2017 President, Lorain County Association of REALTORS®

The rate of homes sold across Ohio in March rose 6.3 percent from the level posted during the month a year ago, according to the Ohio Association of REALTORS.

“Activity in the housing marketplace in March displayed continued resiliency, as the rate of sales posted a best-ever for the month since Ohio’s REALTORS® began tracking data in 1998,” said Pete Kopf, president of the Ohio Association of REALTORS®. “We also experienced a healthy rise in the average sales price, evidence that housing is a solid, long-term investment.

“The sales activity in March is a welcomed start to the traditional home buying season,” Kopf added. “Ohio’s REALTORS® are hopeful that we’ll see an uptick in the number of homes listed for sale, as having an adequate inventory of homes being marketed is important in continuing the positive momentum that has been established.”
March’s average home price of $163,382 reflects a 6.2 percent increase from the $153,800 mark posted during the month last year.

Sales in March reached a seasonally adjusted annual rate of 156,096, a 6.3 percent increase from the 146,819 level during the month a year ago. The market experienced a 4.9 percent increase in sales from February’s seasonally adjusted annual rate of 148,826.
Around the state, the total sales activity increased in 15 of the 18 markets tracked. A total of 13 markets experienced an uptick in average sales price.

The first quarter of 2017 seasonally adjusted annual rate of 151,327 increased 2.9 percent from the first quarter 2016 (147,062). Total dollar volume during the first quarter 2017 reached $4.6 billion, a 10.2 percent increase from the first quarter 2016 level of $4.1 billion.

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 30,000 members, is the largest professional trade association in Ohio.

The Lorain County Association of REALTORS® is one of more than 1,200 local boards and associations of REALTORS® nationwide that comprise the National Association of REALTORS®. The National Association of REALTORS®, “The Voice for Real Estate,” is America’s largest trade association, representing more than one million members involved in all aspects of the residential and commercial real estate industries.

The Lorain County Association of REALTORS® is excited partner with Lorain County Habitat for Humanity® for a charity golf outing that will assist Habitat’s work. Habitat for Humanity is a nonprofit ecumenical Christian housing ministry seeking to eliminate poverty housing and homelessness throughout Lorain County and is an affiliate of Habitat for Humanity International, a worldwide ministry supported by the National Association of REALTORS®. This charity golf outing will be held on June 12, 2017 at Avon Oaks Country Club which is a private golf club located in Avon. Your involvement provides a great opportunity for your company to receive community exposure and help to support a very worthwhile cause. If you are interested in golfing or sponsorship, please email: Contact@LoCAR.org.

REALTOR® is a registered collective membership mark which may be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its strict Code of Ethics. Not all real estate sales agents are REALTORS®. All REALTORS® are members of NAR along with their State and Local Associations.

Lorain County
Association of REALTORS®

5321 Meadow Lane Ct. #6
Sheffield Village, OH 44035
Telephone: (440) 328-4210
E-mail: contact@LoCAR.org
Fair Housing Hotline:
1-800-662-FAIR
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