Banking & Finance

August Home Sales Keep Pace with 2017

YOUNGSTOWN, Ohio – Combined sales of single-family houses in Mahoning, Trumbull and Columbiana counties were on pace with last year’s performance, monthly reports show.

Sales for August and for the first eight months of 2018 are off by just a handful of units in the tri-county region, according to data compiled by the Youngstown Columbiana Association of Realtors and the Warren Area Board of Realtors.

Last month, sales of houses in the three counties totaled 608 units, ahead of the 605 sold in August 2017 and the 539 sold in July.

Year-to-date, 3,837 houses were sold through the end of last month, just six fewer than the 3,843 sold during the first eight months of 2017.

Individually, each of the three counties in August largely kept pace with sales a year ago.

In Mahoning County, 295 houses were sold last month, slightly ahead of the 291 sold a year earlier and up from the 241 sold in July. August sales in Trumbull County matched those of a year earlier, with 219 sold both months. In Columbiana County, 94 houses were sold in August, just one fewer than the same month the year before and slightly ahead of the 92 sold in July.

Year-to-date, Mahoning County’s sales through August – 1,851 – were 2.5% ahead of the 1,805 sold during the same period in 2017. The 1,396 sold during the first eight months of 2018 in Trumbull County were down 3.7% from the 1,449 sold during the same period last year. In Columbiana County, unit sales for 2018 year-to-date – 590 – were up by just one unit from the 589 sold during the first eight months of last year.

Average sale prices for August in all three counties were up from those a year earlier.

In Mahoning County, the average sale price was $132,714, up 17.7% from $112,731 recorded a year earlier, and more modestly ahead of the $129,238 average in July. Trumbull County’s $110,409 average selling price was 13.2% higher than the $97,506 of a year earlier, though down from July’s $114,818.

Columbiana County’s August average sale price – $107,794 – was up 4.1% from $103,535 year earlier though down substantially from July’s $132,414 average.

Published by The Business Journal, Youngstown, Ohio.