House Sales in the Valley Up 14% from a Year Ago

YOUNGSTOWN, Ohio – The number of houses sold in Mahoning, Trumbull and Columbiana counties in May was up about 14% from a year earlier.

Cumulatively, 494 houses were sold in the three counties in May, compared with 430 in the same month a year ago, MLS Now, a multiple listing service collecting sales data from the northeastern Ohio region, reported Friday.

That includes 218 houses sold in Mahoning County last month, compared with 198 in May 2023, a 10.1% increase. In Trumbull County, 189 houses were sold last month, up 18.1% from 160 a year earlier. In Columbiana County, 87 units were sold in May, compared with 72 in May 2023, a 20.8% increase.

New listings in May increased 16.1% from a year earlier in Mahoning County, 11.9% in Trumbull County and 3.9% in Columbiana County.

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

In Mahoning County, May sales totaled $43.7 million, up 8.6% from $40.2 million a year earlier. In Trumbull County, total sales were up 20.9%, from $27.7 million last May to $33.5 million last month. In Columbiana County, dollar volume totaled $15.4 million in May, up 6% from $14.5 million a year earlier.

Average sales prices in May were up in Trumbull County and down in Mahoning and Columbiana counties.

The average sale in Mahoning County in May was $200,588, down 1.3% from $203,304 a year ago. The average sales price in Trumbull County last month was $177,676, a 2.4% increase from May 2023’s $173,552. Columbiana County’s average sales price last month was $177,032, down 12.2% from $201,727 in May 2023.

Throughout Ohio, home sales in May reached 12,642, a 3.2% increase from the 12,171 sales recorded in May 2023. The average sales price across the state in May reached $305,041, a 9.1% increase from the $279,686 mark posted in May 2023.

“We’re thrilled to see a positive trend in Ohio’s housing market,” said Ali Whitley, Ohio Realtors president. “The rise in sales and average prices reflects strong demand and confidence in our state’s real estate, confirming that homeownership remains a valuable long-term investment.”

Copyright 2024 The Business Journal, Youngstown, Ohio.