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Ohio’s February 2020 Home Sales

Laurie Brill, 2020 President, Lorain County Association of Realtors®

Laurie Brill 2020 LoCAR President
The number of homes sold across Ohio in February rose from the pace set during the month a year ago, posting an 8.8 percent increase, according to Ohio REALTORS®.

“The Ohio housing marketplace is remaining resilient, as sales activity levels in February posted healthy gains,” said Ohio REALTORS® President Chris Reese. “Not only are sales levels exhibiting strength, we are also experiencing a steady rise in the average sales price – good news for current and would‐be buyers as housing is a solid, long‐term investment.”

“Looking forward, we anticipate ebbs and flows in activity levels throughout the marketplace as a result of the challenges of tight inventory levels of homes being marketed for sale, combined with the emergence and spread of the COVID‐19 crisis.”

February’s average home price of $187,576 reflects an 8 percent increase from the $173,696 mark posted during the month last year.

Sales in February reached 9,382, an 8.8 percent increase from the 8,624 sales recorded during the month a year ago.

Through the first two months of the year, sales activity has risen 10.6 percent from the level posted in 2019. Sales from January through February reached 18,211, a 10.6 percent increase from the 2019 mark of 16,465 sales.

Around the state, 18 of the 19 markets tracked reported upswings in average sales price in February, while 12 posted gains in sales activity.

Data provided to Ohio REALTORS® by Multiple Listing Services includes residential closings for new and existing single‐family homes and condominiums/co‐ops. Ohio REALTORS®, with more than 33,000 members, is the largest professional trade association in Ohio.

The National Association of REALTORS® is America’s largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.

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 Associations.

Lorain County Association

5321 Meadow Lane Ct. #6
Sheffield Village, OH 44035
Telephone: (440) 328-4210
Fax: (866) 371-7492
Fair Housing Hotline: 800 662-FAIR

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REALTOR 'R'REALTOR® -- A registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics. Inquiries regarding the Code of Ethics should be directed to the board in which a REALTOR® holds membership.