Banking & Finance

May House Sales Drop 11.9% from Last Year

YOUNGSTOWN, Ohio – Sales of houses in the tri-county area were down markedly in May compared to a year earlier, data compiled by local realtors show.

Monthly reports posted online at the Youngstown Columbiana Association of Realtors website, compiled by YCAR and the Warren Area Board of Realtors, show 505 houses were sold in May, down 11.8% from the 573 sold in May 2017.

Sales were down more modestly from April, when 508 units were sold in the three counties.

Sales in each of the three counties were down from a year ago, with Trumbull County seeing the greatest drop. 180 houses were sold there, down 21.4% from May 2017 and April’s 184.

In Columbiana County, 79 houses were sold, even with April but down 14.1% from the 92 units sold a year earlier.

Mahoning County sales were down 2.4% year over year with 246 units sold in May compared with 252 a year earlier. Last month’s sales were up by a single unit from April’s 245.

Average sale prices in May were up in two of the three counties. The average sale prices of a house in Mahoning County was $131,685, a 12.8% improvement, and also improved from April’s $115,696.

The average selling price in Columbiana County in May was $120,857, up $12.9% from May 2017’s $107,054 average, and above April’s $90,201.

Trumbull County’s average sale price was down 3.2% year over year, The May average was $100,522, compared with $103,884a year earlier, but m ore substantially from the $116,756 reported in April.

Year to date, sales through May are down 2.7% in the three counties. During the first five months of 2018, 2,108 houses were sold, compared to the 2,167 sold during the same period in 2017.

In Mahoning County, 1,023 houses were sold through May, just one more than the 1,022 sold during the comparable period last year. Columbiana County’s sales for the first five months of this year are up 1.3%, 316 units, compared to the 312 sold during the same period in 2017.

In Trumbull County, year-over-year sales to date are down 7.7%, with 759 units sold through May compared with 833 during the same period last year.

Published by The Business Journal, Youngstown, Ohio.