Banking & Finance

2017 House Sales Up 3.4% in Mahoning Valley

YOUNGSTOWN, Ohio – House sales in the Mahoning Valley rose 3.4% from 2016, despite a year-over-year dip in the number of units sold in Mahoning County.

According to data released by the Youngstown Columbiana Association of Realtors and the Warren Area Board of Realtors Wednesday, sales of houses in Mahoning, Trumbull and Columbiana counties in 2017 totaled 5,866 units, compared with the 5,671 sold in the three counties the year before.

Mahoning County’s 2017 sales figures were down 2.3% compared to 2016 as 2,694 houses were sold. There were 2,758 sold in in 2016.

Trumbull County experienced an 8.1% rise in sales over the year with 2,235 units sold last year as opposed to the 2,067 sold in 2016. Sales in Columbiana rose 10.8%, with 937 houses sold in 2017 compared to the 846 in 2016.

Mahoning led the three counties when it came to average sale price for the year. The average sale price of a house in the county last year was $114,400, up 3.4% from the $110,618 average in 2016.

The average sale price in Trumbull County last year was $97,098, up 2.2% from the $95,020 average in 2016. Columbiana County’s average selling price for the year was $110,025, a 1.7% improvement from the prior year’s $108,222.

In December, total sales for the three counties were up 2.4% from the same month a year earlier, despite a nearly 1% decline in Mahoning County’s sales. A total 468 units were sold in the three counties last month, 11 more than the year before.

In Mahoning County, 217 houses were sold in December, two fewer than year earlier and 14 more than November’s total.

The average selling price in Mahoning County last month was up 16.9% over the year, $120,639 in December compared with $103,211 and up as well from November’s $109,969.

Trumbull County’s sales last month were up 3% from the same month a year earlier, 171 units in December compared with 166 in December 2016 but a drop from November’s 186.

Trumbull’s average sale price in December was $101,600, up 2.4% from the $99,203 recorded a year earlier and just ahead of the $100,168 in November.

In Columbiana County, 80 houses were sold in December, up 11.1% from the 72 sold a year earlier and just ahead of the 79 sold in November.

The average sale price in Columbiana County last month was up 37.2% from the year before, $115,407 compared to $84,112, and was ahead of November’s average of $111,153.

Published by The Business Journal, Youngstown, Ohio.