Home unit sales in March 2021 reached 12,473, a 3.1 percent uptick from the 12,094 sales recorded during the month last year. The average sales price across Ohio in March reached $220,603, a 10.6 percent increase from the $199,374 mark posted during the month in 2020.
“The Ohio housing market is continuing to experience vigorous levels of activity, despite historically low levels of inventory for sale in most areas across the state,” said Ohio REALTORS® President Seth Task.
“In many of our markets, the inventory level of homes listed for sale in March were about half of what was available during the month a year ago,” Task said. “The low inventory combined with low interest rates and increased buyer demand continue to push prices higher across the state.”
Around the state, 13 of the 16 markets tracked experienced an increase in average price for the month compared to March 2020. Additionally, 12 local markets showed an increase in sales activity compared to a year ago.
During the first quarter of 2021, both home sales activity and average pricing have increased when compared to the three-month period a year ago. Sales in the first quarter 2021 reached 31,503, a 4.4 percent increase from the 30,167 level of a year ago. The average price of $214,822 this year marks a 13.5 percent from the 2020 average of $189,273.
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.
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.