As part of LoCAR's continuing effort to inform the general public of real estate issues, the following article was submitted to the Morning Journal, The Chronicle-Telegram and LorainCounty.com:
Activity across the Ohio housing marketplace slowed slightly in May, as sales decreased 1.3 percent from the level reached during the month a year ago, according to Ohio REALTORS®.
Home sales in May 2025 reached 12,557, a 1.3% decrease from the 12,721 home sales recorded during the month a year ago. The average sales price across Ohio in May reached $313,733, a 2.7% increase from the $305,557 mark posted in May 2024.
“Ohio’s May home sales data shows signs of a normal, healthy market,” said Ohio REALTORS® President Michelle Billings. “Home prices have stabilized, making the market more attractive to potential buyers, while remaining ahead of last year—signaling that homeownership continues to be an excellent investment. An Ohio REALTOR® serves as a professional partner, guiding buyers and sellers through the intricate process of home buying and selling, to successfully achieve their housing goals.”
Around the state, 13 out of 14 markets experienced an increase in average sale price for the month compared to May 2024.
During the first five months of the year, home sales activity is down 1.9% compared to January-May 2024. Year-to-date sales (January-May 2024) reached 49,280, down from the 50,229 homes sold a year ago.
The average sales price during the period this year is $294,401, a 4.9% increase from the $280,542 mark set 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.
Using a professional REALTOR® is an important factor in your investment decision for there are so many nuances to the process. Your REALTOR® can help guide you through the buying and/or selling steps to achieve your goal.
The Lorain County Association of REALTORS® is one of 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.
Ohio REALTORS®, with more than 35,000 members, is the largest professional trade association in Ohio. Leading with expertise, professionalism and an entrepreneurial spirit, REALTORS in Ohio are committed to their clients and communities.
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.
