The number of homes sold across Ohio in March rose from the pace set during the month a year ago, posting a 6.5 percent increase, according to Ohio REALTORS.
“The foundation of the 2020 housing marketplace exhibited tremendous stability to begin the year, as we posted solid gains in sales activity and average prices,” said Ohio REALTORS President Chris Reese. “It’s evident that, through the first quarter of the year, consumer confidence in achieving the American Dream is robust throughout Ohio.
“While the onset of the COVID‐19 pandemic during the start of the traditional spring home buying season has created some uncertainty for the sector moving forward, the real estate profession remains hopeful that favorable interest rates, combined with pent‐up buyer demand, will help stabilize the Ohio marketplace in the near‐term,” Reese added.
March’s average home price of $199,445 reflects a 10.5 percent increase from the $180,452 mark posted during the month last year.
Sales in March reached 12,007, a 6.5 percent increase from the 11,269 sales recorded during the month a year ago.
Around the state, 17 of the 19 markets tracked reported upswings in average sales price, while 13 posted gains in sales activity.
The first quarter 2020 sales of 30,210 increased 8.6 percent from the first quarter 2019 mark of 27,830. Total dollar volume during the first quarter 2020 reached $5.8 billion, an 18.1 percent increase from first quarter 2019 sales volume of $4.9 billion.
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.
And remember, the next time you are 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 is 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 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 Ohio REALTORS® (OR). 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.