Banking & Finance

Home Sales Finish Year Just Ahead of 2015 Figures

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YOUNGSTOWN, Ohio – Home sales in the tri-county region in 2016 finished slightly ahead of sales in 2015, despite a year-over-year dip in December.

Reports, drawn from information compiled by the Youngstown Columbiana Association of Realtors and the Warren Area Board of Realtors, show 5,661 houses were sold in Mahoning, Trumbull and Columbiana counties last year, up from 5,551 the year before.

All three counties reported increases in the number of houses sold for the year. In Mahoning County, 2,753 units were sold, 10 more than during 2015. In Trumbull County, 2,063 houses were sold, up from 2,000 in 2015. In Columbiana County, 845 houses were sold, compared with 808 the year prior.

During December, sales for the three counties were down slightly from the same period a year earlier, with year-over-year declines in both Mahoning and Trumbull counties overcoming gains in Columbiana County. Collectively, the three counties reported a combined 450 units sold last month, down from 461 in December 2015.

In Mahoning County, 214 houses were sold in December, down from 221 a year earlier but up from the 191 sold in November. In Trumbull County, 164 units were sold last month, down from both the 171 sold in December 2015 and the 176 sold in November. Columbiana County’s sales were up slightly, with 72 units sold in December compared with 69 a year ago. Sales last month were down from the 80 units sold in November.

Annual average sale prices were up for the year in all three counties.  In Mahoning County, the average sale price for the year was $110,734, up from $104,570 for 2015. In Columbiana County, the average sale price last year was $108,211, up from $102,102. The Trumbull County average selling price for the year rose from $94,097 in 2015 to $94,949 last year.

In December, the average sale price rose year-over-year in Trumbull County while declining in Mahoning and Columbiana counties.

Trumbull’s average sale price last month was $99,269, reflecting gains from both a year earlier ($86,802) and from November ($93,141). The average sale price last month in Mahoning and Columbiana counties was down from the month before as well as a year earlier.

In Mahoning County, the average selling price in December was $104,549, compared with $110,538 a year earlier and with $$117,275 in November. Columbiana County’s average sale price last month was $84,122, down from $101,163 in December 2015 and from $103,451 in November.

Published by The Business Journal, Youngstown, Ohio.