Real Estate

Mahoning Valley House Sales Dip 2% in 2018

YOUNGSTOWN, Ohio – Sales of single-family houses in Mahoning, Trumbull and Columbiana counties last year were down about 2% from 2017.

That decline for the year was fueled in part by drop sales in December of 10.8% in the three counties, the latest monthly report shows.

Online reports complied using data provided by the Youngstown Columbiana Association of Realtors and the Warren area Board of Realtors show 422 single-family houses were sold in the tri-county area in December, down from the 473 sold in December 2017, and down as well from the 458 units sold in November.

For the full year, sales in the three counties totaled 5,756, down from the 5,871 sold during 2017.

Individually, sales in December were down in all three counties from a year earlier, with Trumbull County experiencing the steepest drop from a year earlier, 15.2%.

Last month, 145 houses were sold in Trumbull, down from 171 a year earlier and down further from the 179 sold in November. For the year, 2,069 were sold in the county, off 6.5% from the 2,235 sold during 2017.

Mahoning County house sales totaled 201 units in December, down 8.6% from the 220 recorded a year earlier and slightly above November’s 198. Despite the December decline, sales for the year were up 2.0% in the county, with 2,750 units sold in 2018 compared with 2,697 the year before.

In Columbiana County, sales last month were down 7.3% from a year earlier as 76 houses were sold, compared with 82 in December 2017 and 81 were sold in November. For the year, 916 houses were sold, off 2.4% from 939 in 2017.

While unit sales were down in December, average sale prices were up for the month as well as for the year in both Mahoning and Trumbull counties.

In December, the average sale price for a house sold in Mahoning County was $130,279, up 8.3% from $120,314 a year earlier, though down from November’s $141,127. For the year, the average sale price was $125,930, up 10.1% from the 2017 figure of $114,381.

December’s average for a sale in Trumbull County was $107,215, up 5.5% from $101,600 in December 2017, though down slightly from November’s $110,300 average. The average sale price for the year was $108,685, up 11.9% from the $97,102 average of 2017.

In Columbiana County, the average sale price was $111,980 in December, down 3.4% from $115,939 a year earlier and down from $121,110 in November. For the year, the average was $116,168, up 5.5% from $110,079 in 2017.

Copyright 2019 The Business Journal, Youngstown, Ohio.