Home unit sales in May 2021 reached 14,130, a 19.8 percent jump from the 11,790 sales recorded during the month last year. The average sales price across Ohio in May reached $243,641, an 18.1 percent increase from the $206,240 mark posted during the month in 2020.
“The Ohio housing market maintained its momentum in May, as both sales activity and values experienced healthy gains,” said Ohio REALTORS® President Seth Task. “The May results are a clear indication that the traditional spring home buying season is in full bloom.
“Consumers are determined to achieve their ownership dreams despite the challenges that our current marketplace presents with historically low inventory levels throughout most markets,” Task said. “We remain bullish that as our state and nation collectively work toward putting the pandemic in our rear-view mirror, we will see an uptick in homes listed for sale and bring balance to the marketplace. Both Ohio REALTORS® and the National Association of REALTORS® are working with industry partners in collaboration with local, state and federal governments to explore ways to solve the current inventory shortage.”
Around the state, 12 of the 16 markets tracked experienced an increase in average price for the month compared to May 2021. Additionally, 12 local markets showed an increase in sales activity compared to a year ago.
Sales through the first five months of 2021 reached 58,829, a 10.7 percent increase from the 53,155 sales posted during the same period a year ago. The average sales price year-to-date of $226,291 is a 15.1 percent increase from the January to May 2020 mark of $196,684.
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 36,000 members, is the largest professional trade association in Ohio.
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 choices.
The National Association of REALTORS®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 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®. 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.
The Lorain County Association of REALTORS® offers a website that provides a complete listing of REALTOR® real estate brokerages in Lorain County, contact information for REALTOR® members, and industry associates. If you are a first time homebuyer or a repeat buyer consider www.MyNewCommunity.net or www.LoCAR.org as a good source for Lorain County REALTOR® information.
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.