The rate of homes sold across Ohio reached a best-ever in October, increasing 7.8 percent from the level recorded during the month a year ago, according to the Ohio Association of REALTORS.
“Activity throughout the Ohio housing market was beyond positive in October, as the pace of sales during the month reached the highest rate for any monthly period in 19 years,” said OAR President Sara Calo. “Equally as important as the uptick in sales is the average sales price continuing to post modest monthly gains. It’s evident that consumer confidence in the housing sector continues to be remarkably strong.”
October’s average home price of $163,279 reflects an 8.8 percent increase from the $150,036 mark posted in October 2015.
Sales in October reached a seasonally adjusted annual rate of 156,872, increasing 7.8 percent from the October 2015 rate of 145,561. The market saw an uptick in activity in October of 3.8 percent from September’s mark of 151,100. Sales activity in October 2016 was the month’s best rate since OAR began tracking Ohio’s sales in 1998.
Around the state, 15 of the 18 markets tracked reported an increase average sales price, while 12 improved in sales activity compared to October 2015.
Data provided to OAR by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops.