Banking & Finance

July House Sales Keep Pace with Year Ago

YOUNGSTOWN, Ohio – House sales in the tri-county region for July mostly kept pace with those a year ago, though gains in Columbiana counties were muted by a down month in Mahoning County.

Data compiled by the Youngstown Columbiana Association of Realtors and the Warren Area Board of Realtors showed 600 houses were sold in the three counties last month, off slightly from the 606 sold in the area during July 2016. That was down from the 766 sold in the three counties in June.

For the 10th time in the past 12 months, the number of houses sold in Mahoning County in July were at or below the number sold during the same month a year earlier.

In Mahoning County, 224 houses were sold last month, down 13.5% from the 259 sold in July 2016 and down from the 370 sold in June.

July sales in Trumbull and Columbiana counties fared better. In Trumbull County, 283 units were sold, up from the 271 sold a year earlier and down from the 314 sold in June. In Columbiana County, sales were up 22.4% over the year, 93 in July compared with 76 a year earlier and improved from the 82 sold in June.

Year-to-date, sales in the three-county area are running 2.2% behind 2016. During the first seven months of 2017, 3,804 houses were sold compared with 3,888 during the same period in 2016.

Sales in both Mahoning and Trumbull counties are down from a year earlier so far this year, 5.4% and 1.4% respectively. As of last month, 1,514 houses were sold last year in Mahoning County, down 5.4% from the 1,600 sold during the first six months of 2016. In Trumbull County, 1,800 houses were sold during the first seven months of this year, off a more modest 1.4% from the 1,825 sold during the comparable period in 2016.

In Columbiana County, sales rose 5.8% year-to-date, with 490 units sold compared to the 463 sold through July 2016.

The average sale price in July was up from a year earlier in both Columbiana and Trumbull counties, while it was down in Mahoning County.

In Columbiana County, the average sale price in July was $112,112, up 8.0% from $103,763 in July 2016 and up from $105,844 in June.

In Trumbull County, average selling price was $106,246 in July, a 1.5% improvement from July 2016’s $104,701, and up from $103,335 in June.

Mahoning County’s average sale price was $108,290, down 8.6% from $118,423 a year earlier and down as well form $124,864 in June.

Published by The Business Journal, Youngstown, Ohio.