House Sales in the Valley Down 17% from a Year Ago
YOUNGSTOWN, Ohio – The number of houses sold in Mahoning, Trumbull and Columbiana counties in August was down about 17% from a year earlier.
Cumulatively, 440 houses were sold in the three counties in August, compared with 532 in the same month a year ago, MLS Now, a multiple listing service collecting sales data from the northeastern Ohio region, reported Thursday.
That includes 204 houses sold in Mahoning County last month, compared with 247 in August 2023, a 17.4% decrease. In Trumbull County, 170 houses were sold last month, down 12.4% from 194 a year earlier. In Columbiana County, 66 units were sold in August, compared with 91 in August 2023, a 27.5% decrease.
New listings in August decreased 5.7% from a year earlier in Mahoning County and 17.1% in Columbiana County, but increased 1.7% in Trumbull County.
The total volume of houses sold in August compared with the same period last year was down in all three counties.
In Mahoning County, August sales totaled $42.8 million, down 13.2% from $49.4 million a year earlier. In Trumbull County, total sales were down 7.3%, from $34.6 million last August to $32.1 million last month. In Columbiana County, dollar volume totaled $12.5 million in August, down 24.2% from $16.6 million a year earlier.
Average sales prices in August were up in all three counties.
The average sale in Mahoning County in August was $210,222, up 5.1% from $200,007 a year ago. The average sales price in Trumbull County last month was $188,951, a 5.8% increase from August 2023’s $178,652. Columbiana County’s average sales price last month was $190,759, up 4.5% from $182,559 in August 2023.
Throughout Ohio, home sales in August reached 12,573, a 3.4% decrease from the 13,015 sales recorded in August 2023. The average sales price across the state in August reached $302,384, a 5.8% increase from the $285,746 mark posted in August 2023.
“Although fewer homes were sold in August, the median home price and dollar volume saw increases year-over-year, reflecting sustained demand in a competitive market with limited inventory,” said Ali Whitley, Ohio Realtors president.
Copyright 2024 The Business Journal, Youngstown, Ohio.
