House Sales in the Valley Down 1% from a Year Ago

YOUNGSTOWN, Ohio – The number of houses sold in Mahoning, Trumbull and Columbiana counties in June was down about 1% from a year earlier.

Cumulatively, 458 houses were sold in the three counties in June, compared with 463 in the same month a year ago, MLS Now, a multiple listing service collecting sales data from the northeastern Ohio region, reported Tuesday.

That includes 218 houses sold in Mahoning County last month, compared with 226 in June 2023, a 3.5% decrease. In Trumbull County, 156 houses were sold last month, down 6% from 166 a year earlier. In Columbiana County, 84 units were sold in June, compared with 71 in June 2023, an 18.3% increase.

New listings in June increased 1.4% from a year earlier in Mahoning County, but decreased 17.1% in Trumbull County and 12.6% in Columbiana County.

The total volume of houses sold in June compared with the same period last year was up in all three counties.

In Mahoning County, June sales totaled $49 million, up 4.3% from $47 million a year earlier. In Trumbull County, total sales were up 0.3%, from $29.4 million last June to $29.5 million last month. In Columbiana County, dollar volume totaled $16.4 million in June, up 39.6% from $11.7 million a year earlier.

Average sales prices in June were up in all three counties.

The average sale in Mahoning County in June was $224,953, up 8.2% from $207,973 a year ago. The average sales price in Trumbull County last month was $189,348, a 6.7% increase from June 2023’s $177,435. Columbiana County’s average sales price last month was $195,667, up 18% from $165,880 in June 2023.

Throughout Ohio, home sales in June reached 11,972, a 10.3% decrease from the 13,345 sales recorded in June 2023. The average sales price across the state in June reached $308,375, a 5.8% increase from the $291,397 mark posted in June 2023.

“While the number of transactions has seen a downturn, home prices have risen, reflecting a robust appreciation in property values,” said Ali Whitley, Ohio Realtors president. “This positive trend in home prices underscores value and demand for homes in our state, confirming that owning a home is a great investment.”

Copyright 2024 The Business Journal, Youngstown, Ohio.