Home unit sales in October 2021 reached 15,731, a 1.4% decrease from the 15,949 sales recorded during the month last year. The average sales price across Ohio this October rose to $240,509, an 8.2% increase from the $222,216 mark posted during the same month last year.
“Overall, we are still seeing inventory levels and volume that indicate a strong housing market. This October’s minor decrease in units sold as compared to last year shows signs that the housing market is beginning to stabilize,” said Ohio Realtors President Seth Task.
“We are continuing to see a steady rise in the average sales price – good news for current and would-be buyers showing that housing is a solid, long-term investment,” Task said. “While inventory levels continue to creep up, they are still historically lower than before this very active market that began spring of 2020. We continue to collaborate with other industry partners and government agencies and legislators at all levels of government to work towards solutions that will increase the level of affordable and workforce housing throughout the state.”
Around the state, 13 of 15 markets tracked experienced an increase in average home price for the month compared to October 2020. About half of the markets tracked saw an increase in home units sold, while the other half saw a decrease in home units sold.
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 nearly 37,000 members, is the largest professional trade association in Ohio.