Real Estate

Valley Home Sales Up Slightly in August

YOUNGSTOWN, Ohio — The tri-county area saw slight improvement in closed house sales last month while pending sales trend upward.

Data compiled by the Youngstown/Columbiana Association of Realtors and the Warren Area Board of Realtors show 592 houses were sold in Columbiana, Mahoning and Trumbull counties in August, up from 575 in July. Sales were down compared to August 2018, however, when 616 houses were sold.

Pending sales were up to 735 last month, compared to 576 in July and up from 561 in August 2018.

Closed sales ticked up in Mahoning and Columbiana counties in August. Mahoning saw 291 houses sold, compared to 280 in July, but down from 300 during the comparable period in 2018.

In Columbiana County, 102 houses were sold last month, up from 95 in July and 95 in August 2018.

Closed sales in Trumbull County totaled 199, down one from July and from 221 in August 2018.

Average sale prices increased by nearly $20,000 in Mahoning and Columbiana counties, while Trumbull County saw its average sale price fall.

In Mahoning County, the average sale price in August was $151,128, up from $130,486 in July and up from $131,875 in August 2018.

Columbiana County recorded an average sale price of $142,180, up from $128,034 in July. In August 2018, the average sale price was $107,264.

The average sale price in Trumbull County fell to $114,433 last month, down from $121,249 in July, but up from $110,355 in August 2018.

A tight housing inventory continues to be a problem for the tri-county area, which showed dips in available houses in all three counties. Total inventory in the area stood at 1,883 in August, down from 2,044 in July, as well as from August 2018, when there were 2,464 houses available.

Nationally, sales were up 1.3% to their highest level in 17 months, according to the National Association of Realtors, with 5.49 million sold in August. The median price was up 4.7% to $278,200.

Copyright 2019 The Business Journal, Youngstown, Ohio.