House Sales in the Valley Decline 16% from a Year Ago

YOUNGSTOWN, Ohio – The number of houses sold in Mahoning, Trumbull and Columbiana counties last month was down about 16% from a year earlier.

Cumulatively, 464 houses were sold in the three counties in June, compared with 555 a year ago, MLS Now, a multiple listing service collecting sales data from the northeastern Ohio region, reported.

That includes 227 houses sold in Mahoning County last month, compared with 257 in June 2022, an 11.7% decline. In Trumbull County, 166 houses were sold last month, down 23.5% from 217 a year earlier. In Columbiana County, 71 units were sold in June, a 12.4% change year-over-year.

That decline coincides with an even higher decrease in available inventory. New listings in June declined 28.3% from a year earlier in Mahoning County, 18% in Trumbull County and 31.1% in Columbiana County.

Year to date, combined unit sales in the three counties also were off about 16%, falling from 2,741 for the first half of 2022 to 2,302 for the same period this year.

The total volume of houses sold in the three counties in June also was down for the same period last year in all three counties, though average sale prices were up in both Mahoning and Trumbull counties.

In Mahoning County, June sales totaled $47 million, down 7.9% from $51 million a year earlier. In Trumbull County, total sales were down 22.3%, from 37.9% last June to $29.5 million last month. In Columbiana County, dollar volume totaled $11.8 million in June, down from $15.1 million a year earlier.

The June average sale in Mahoning County was $207,198, up 4.2% from $198,768 a year ago. The average sale price in Trumbull County last month was $177,435, a 1.6% gain from June 2022’s $174,664. Columbiana County’s average sale price last month was $165,880, off 11.2% from $186,693.

Published by The Business Journal, Youngstown, Ohio.