Activity in the Ohio housing marketplace stabilized in June, as the pace of sales nearly matched the level of closings that occurred during the month a year ago, according to Ohio REALTORS®.
“The Ohio housing marketplace, which experienced a significant decline in sales activity since the onset of the COVID‐19 pandemic, regained its footing somewhat in June,” said Ohio REALTORS® President Chris Reese. “It’s a positive sign that sales activity nearly matched levels from a year ago, while also posting gains in the average sales price across the state.
“The market’s return to normalcy is a clear indication that consumers appreciate that housing is a solid, long‐term investment,” Reese added. “While historic low mortgage rates will certainly help boost interest in the market in the near term, we’re also hopeful that we’ll see an uptick in the number of homes listed for sale and an increase home construction to meet buyer demands.”
June’s average home price of $230,054 reflects an 8.9 percent increase from the $211,229 mark posted during the month last year.
Sales in June reached 15,036, a slight 1.2 percent decrease from the 15,218 sales recorded during the month a year ago.
Through the first half of the year, sales activity has declined 5.8 percent from the level posted during the six‐month period in 2019. Sales from January through June reached 68,476, lagging the 2019 mark of 72,678 sales during the period. The average sales price during the first half 2020 reached $203,696, a 6.7 percent increase from the $190,991 posted in 2019.
Around the state, 14 of the 16 markets tracked reported upswings in average sales price in June, while 11 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.
If you are thinking about buying or selling a home, contact a 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 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 more than 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.