Ohio Home Sales in July Rose 15.4% from Year Ago

YOUNGSTOWN, Ohio — Home sales in July were up 15.4% from a year earlier, the Ohio Association of Realtors reports.

The increase marked the market’s 11th consecutive monthly year-over-year gain, according to the association. Additionally, home sales last month increased 6.3% from June.

“Home sales activity throughout the Buckeye State is extremely robust, as we tallied best-ever sales totals for July” said Greg Hrabcak, OAR president, in a prepared statement. “Equally impressive, sales activity in July was the second strongest monthly total since we began reporting data in 1998, trailing only October 2005.”

Average sales prices also are experiencing a “steady, modest rise,” he said. July’s average sale price of $167,425 was up 2.6% from July 2014’s $163,230 average.

Around Ohio, 15 of the 18 markets tracked reported increases in sales activity. The average sale price increased in 14 markets.

Sales in July reached a seasonally adjusted annual rate of 152,473, up 15.4% from the 132,178 level during July 2014. The Ohio market also experienced a 6.3% rise from June’s seasonally adjusted rate of 143,488.

Copyright 2024 The Business Journal, Youngstown, Ohio.