Ohio Housing Market Experiences Rise in Sales and Average Price in July
by Chad Schneider, 2017 President, Lorain County Association of REALTORS®
“The Ohio housing market is continuing to experience a solid level of sales activity and steady, modest growth in pricing,” said Ohio REALTORS® President Pete Kopf. “It’s evident, based on the activity recorded in July, that the marketplace is continuing to make progress in building a stable foundation for the housing sector, as more Ohioans are exhibiting confidence that a home purchase is a solid, long-term investment.
“Ohio’s REALTOR® community remains hopeful that we will begin to experience a rise in the number of homes being listed for sale so that we can continue to move the marketplace forward.”
July’s average home price of $181,390 reflects a 4.8 percent increase from the $173,066 mark posted during the month last year.
Sales in July reached a seasonally adjusted annual rate of 146,762, a 0.6 percent increase from the 145,835 level reached during the month a year ago.
The market also experienced a 1.6 percent drop in sales from the June’s record-setting seasonally adjusted annual rate of 149,185.
Around the state, 14 of the 18 markets tracked reported upswings in average sales price. The rate of home sales dropped in 10 markets compared to July 2016.
Data provided to OAR by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops. Ohio REALTORS®, with more than 31,000 members, is the largest professional trade association in Ohio.
If you are thinking about buying or selling a home, contact a professional REALTOR® today. Members of the Lorain County Association of REALTORS® care about the community in which they live, work and support. Lorain County offers a wide variety of housing choices.
Do your research and take advantage of the many housing opportunities right here in Lorain County and Northeast Ohio. We are fortunate to live in a region with such vast offerings. From big to small, country to city... it's available right here! Our proximity to highway and freeway access provides great commute options both east and west! Contact your LoCAR REALTOR® member today.
The Lorain County Association of REALTORS® is an industry trade association representing licensed real estate sales agents in Lorain County who are members of the National Association of Realtors® (NAR) and the Ohio Association of REALTORS® (OAR). As members of NAR these licensed real estate agents have earned the REALTOR® designation and they pledge to protect the rights of homeownership and conduct their real estate business abiding by the NAR Code of Ethics.
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 nearly one million members involved in all aspects of the residential and commercial real estate industries.
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 Association.