by David Reddy
2023 President, Lorain County Association of REALTORS®
The number of homes sold throughout Ohio in April fell from the pace set during the month a year ago, while average prices continued to climb, according to Ohio REALTORS®.
Homes sales in April 2023 reached 10,094, a 20.9% decline from the 12,763 sales recorded during the month a year ago. The average sales price across Ohio in April reached $268,257, a 4% increase from the $258,000 mark posted in April 2022.
“Activity in the Ohio housing marketplace is continuing to lag sales from a year ago, as we continue to confront tight inventory levels of homes listed for sale and a higher interest rate environment,” said Ohio REALTORS President Ralph Mantica. “That said, the continued rise in average price is a strong indication that consumers understand that housing is a smart, long-term investment.
“Ohio’s REALTORS® are poised to help sellers and buyers navigate the challenges of today’s real estate marketplace and achieve their unique housing goals.”
Around the state, 15 of the 15 of the markets tracked experienced an increase in average price for the month compared to April 2022. Additionally, only one local market showed an increase in sales activity compared to a year ago.
Data provided to Ohio REALTORS® by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops.
Remember, the next time you’re in the market to buy or sell your home, contact a REALTOR® member of the Lorain County Association of REALTORS®. A REALTOR®'s knowledge about your local housing market is invaluable.
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. We are fortunate to live in a region with such vast offerings. From big to small, country to city... it's available in Lorain County! Our proximity to highway and freeway access provides great commute options both east and west! Contact your LoCAR REALTOR® member today.
The National Association of REALTORS®, “The Voice for Real Estate,” is America's largest trade association that includes NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries. Ohio REALTORS®, with more than 37,000 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®.
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.
