Ohio home sale prices up 17.9%

Activity across the Ohio housing marketplace rose in June, as sales increased 10.2% from the level reached during the month a year ago, according to Ohio Realtors.

Homes sales in June 2021 reached 16,552, a 10.2% uptick from the 15,024 sales recorded during the month a year ago. The average sales price across Ohio in June reached $256,094, a 17.9% increase from the $217,302 mark posted during the month in 2020.

“Despite the persistent low inventory levels of homes being marketed for sale throughout Ohio, consumers are continuing to push the housing marketplace forward with brisk sales activity and rising prices as they take advantage of historic low interest rates,” said Ohio Realtors President Seth Task.

“While inventory of homes listed for sale continue to lag the level posted a year ago, many markets are beginning to experience an uptick in listings — a welcome sign to be sure,” Task added. “Ohio Realtors and the National Association of REALTORS are continuing to work with industry partners and elected officials at all levels of government to find solutions to boost the supply of housing in all price points to ease pressure and expand opportunities.”

Around the state, 14 of the 15 markets tracked experienced an increase in average price for the month compared to June 2020. Additionally, 12 local markets in June showed an increase in sales activity compared to a year ago.

Through the first half of 2021, both home sales activity and average pricing have increased when compared to the six-month period a year ago. Sales through second quarter 2021 reached 75,536, a 10.6% increase from the 68,272 level of a year ago. The average price of $232,780 at the midpoint of the year marks a 15.8% increase from the 2020 average of $201,090.

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.