Banking & Finance

August Home Sales Post 10% Gain from Year Ago

YOUNGSTOWN, Ohio — Sales of single-family houses in the tri-county area in August were up 10% from a year earlier, newly released monthly data show.

The data complied by the Youngstown Columbiana Association of Realtors and the Warren Area Board of Realtors show 534 single-family dwellings were sold last month in Mahoning, Trumbull and Columbiana counties, up 10% from the 486 in August 2016.

The monthly reports from the counties were released by the Centralized Real Estate Information Services Multiple Listing Service, which covers a 14-county region in northeastern Ohio.

Trumbull County recorded the greatest gain in unit sales among the three counties, with 191 units sold, up 14.4% from the 167 sold a year earlier and matching the 191 sold in July.

In Mahoning County, 260 houses were sold in August, a 7.0% gain from the 243 sold a year earlier and up modestly from 254 in July. Trumbull County saw a 9.2% increase year over year, with 183 units sold last month compared with 76 a year ago and 76 in July.

Year-to-date sales for the three counties combined are up 2.8% from the same point last year, 3,752 for the first eight months of 2016 compared with 3,650 during the same period in 2015.

In Mahoning County, 1,857 houses have been sold through August, up 1.4% from the 1,831 sold during the comparable period in 2015. Trumbull County saw 1,349 units sold through last month, up 1.4% from the 1,321 sold during the first eight months of 2015. Sales year-to-date in Columbiana County are up 9.6%, with 546 houses sold through August compared with the 498 sold during the comparable period in 2015.

Both Mahoning and Columbiana counties reported double-digit gains by percentage in average sale prices last month, while Trumbull’s average sipped slightly.

In Mahoning County, the average sale price for a single-family dwelling in August was $124,275, a 22.3% increase from the $101,577 in August 2015 and up from July’s $119,464 average.

Columbiana County reported a 10.6% gain from August 2015, $109,779 last month compared with $99,217, as well as up from $103,763 in July.

The average selling price for a house in Trumbull County last month was $100,748, down 1.7% from $102,447 a year earlier and down as well from $104,989 in July.

Published by The Business Journal, Youngstown, Ohio.