Activity across the Ohio housing marketplace stabilized in February, as sales declined a negligible 0.6 percent from the level reached during the month a year ago, according to Ohio REALTORS®.
Home sales in February 2021 reached 9,366, a marginal 0.6 percent drop from the 9,418 sales recorded during the month a year ago. The average sales price across Ohio in February reached $209,945, a 12 percent increase from the $187,375 mark posted during the month in 2020.
“The Ohio housing marketplace continued to exhibit resiliency in February, as sales activity nearly matched the levels of a year ago combined with a notable uptick in pricing,” said Ohio REALTORS® President Seth Task. “It is worth noting that February 2020 was a leap year, so our current monthly results reflect one less day of sales activity.
“Additionally, marketplaces throughout the state are reporting inventory levels of homes listed for sale that are nearly half the volume of what was available for sale a year ago,” Task added. “Despite the challenges, we’re still experiencing brisk activity, as historic low interest rates continue to attract would be buyers.”
Around the state, 14 of the 16 markets tracked experienced an increase in average price for the month compared to February 2020. Additionally, nine local markets 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. Ohio REALTORS, with more than 35,000 members, is the largest professional trade association in Ohio.
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, representing 1.4 million members, including NAR's institutes, societies, and councils, 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 Association.