House Sales in the Valley Down 13% in 2023
YOUNGSTOWN, Ohio – The number of houses sold in Mahoning, Trumbull and Columbiana counties in 2023 was down about 13% from a year earlier.
Combined unit sales in the three counties fell from 5,742 in 2022 to 4,992 in 2023, MLS Now, a multiple listing service collecting sales data from the northeastern Ohio region, reported Friday.
In Mahoning County, 2,403 houses were sold in 2023, compared with 2,737 in 2022, a decline of 12.2%. In Trumbull County, 1,804 houses were sold in 2023, down 16.9% from 2,172 in 2022. In Columbiana County, 785 houses were sold in 2023, down 5.8% from 833 in 2022.
In December 2023, 422 houses were sold in the three counties, matching the 422 that were sold in December 2022.
That includes 212 houses sold in Mahoning County last month, compared with 192 in December 2022, a 10.4% increase. In Trumbull County, 136 houses were sold last month, down 19% from 168 a year earlier. In Columbiana County, 74 units were sold in December, compared with 62 in December 2022, a 19.3% increase.
New listings in December increased 40.9% from a year earlier in Mahoning County, 26% in Trumbull County and 30% in Columbiana County.
The total volume of houses sold in December compared with the same period in 2022 was up in Mahoning and Columbiana counties but down in Trumbull County.
In Mahoning County, December sales totaled $38.4 million, up 19.4% from $32.2 million a year earlier. In Trumbull County, total sales were down 18.5%, from $25.9 million in December 2022 to $21.1 million last month. In Columbiana County, dollar volume totaled $13 million in December, up 6.8% from $12.2 million a year earlier.
Average sale prices were up in Mahoning and Trumbull counties but down in Columbiana County.
The average sale in Mahoning County in December was $181,554, up 8.1% from $167,918 a year ago. The average sale price in Trumbull County last month was $155,358, a 0.7% increase from December 2022’s $154,315. Columbiana County’s average sale price last month was $177,020, down 10.5% from $197,750 in December 2022.
Ohio’s home sales reached 127,016 in 2023, a 14.9% decrease from the 2022 year-end level of 149,270. The average sales price across Ohio in 2023 reached $272,646, a 5.1% increase from the $259,303 mark posted in 2022. Total dollar volume in 2023 reached $34.6 billion, a 10.5% decrease from the 2022 level of $38.7 billion, according to Ohio Realtors.
“Ohio’s housing market experienced both opportunities and challenges in 2023. High interest rates and low inventory slowed sales, while home prices continued to increase,” said Ali Whitley, Ohio Realtors president. “We have seen resiliency from Ohio’s homebuyers, showing that consumers value homeownership.”
Copyright 2024 The Business Journal, Youngstown, Ohio.
