House Sales in the Valley Decline 15% from a Year Ago
YOUNGSTOWN, Ohio – The number of houses sold in Mahoning, Trumbull and Columbiana counties in September was down about 15% from a year earlier.
Cumulatively, 435 houses were sold in the three counties in September, compared with 514 a year ago, MLS Now, a multiple listing service collecting sales data from the northeastern Ohio region, reported Thursday.
That includes 208 houses sold in Mahoning County last month, compared with 249 in September 2022, a 16.5% decline. In Trumbull County, 159 houses were sold last month, down 18.9% from 196 a year earlier. In Columbiana County, 68 units were sold in September, compared with 69 in September 2022, a 1.5% decrease.
New listings in September declined 2.7% from a year earlier in Mahoning County and 3.5% in Trumbull County. They were up 11.1% in Columbiana County.
Year-to-date, combined unit sales in the three counties were down about 15%, falling from 4,385 last year to 3,699 for the same period this year.
The total volume of houses sold in September compared with the same period last year was down in all three counties.
In Mahoning County, September sales totaled $39.5 million, down 12.6% from $45.2 million a year earlier. In Trumbull County, total sales were down 21.1%, from $33.2 million last September to $26.2 million last month. In Columbiana County, dollar volume totaled $11.4 million in September, down 3.9% from $11.8 million a year earlier.
Average sale prices were up in Mahoning County but down in Trumbull and Columbiana counties.
The average sale in Mahoning County in September was $190,012, up 4.6% from $181,586 a year ago. The average sale price in Trumbull County last month was $164,931, a 2.7% decrease from September 2022’s $169,535. Columbiana County’s average sale price last month was $167,952, off 2.4% from $172,141 in September 2022.
The number of homes sold throughout Ohio in September decreased from the pace set during the month a year ago, while average prices continued to increase, according to Ohio Realtors.
Ohio home sales in September 2023 reached 11,415, a 17% decline from the 13,758 sales recorded during the month a year ago. The average sales price across the state in September reached $275,461, a 5.9% increase from the $260,127 mark posted in September 2022.
“The housing market right now is getting back to normal. Interest rates and the number of homes for sale are becoming steadier. Home prices are still going up, showing that people think buying a home is a smart investment,” said Ralph Mantica, Ohio Realtors president.
Published by The Business Journal, Youngstown, Ohio.