Mahoning Valley Home Sales, Average Prices Up in 2020

YOUNGSTOWN, Ohio — The coronavirus pandemic didn’t slow the residential real estate market, as the Mahoning Valley and surrounding region finished 2020 ahead of the previous year.

Data from Yes-MLS shows the local housing market in the 18-county region, which includes Mahoning, Trumbull and Columbiana counties, sales of single family listings were up 6% year-to-date in December 2020 over the same period in 2019, coming in at 48,015 listings sold compared to 45,280.

The average sale price of homes continued to increase to $197,061 in 2020, up from $179,352 the year prior, a 9.9% increase. Total dollar volume sold year-to-date in December 2020 also saw big gains coming in at $9.46 billion, up 16.5% from $8.12 billion the same period in 2019.

Locally, Trumbull County saw the highest percentage gain in listings sold, improving 5.2% over 2019. Last year, Trumbull agents sold 2,160 houses, up from 2,054 the year prior. The county finished the year with 200 listings sold in December, up from 181 sold in November, and up 23.5% from 162 sold in December 2019.

Total dollar volume sold for the year improved by 14.5% in Trumbull County to $272,255,234, up from $237,729,001 in 2019. The average sale price also improved by 8.9% in 2020 to $126,044, up from $115,739 in 2019.

In December, the average sale price in Trumbull County was $126,891, down from $145,293 in November, but up 4.5% from $121,453 in December 2019.

Mahoning County finished 2020 with 2,856 listings sold, up 2.6% from 2,785 in 2019. In December, the county reported 245 listings sold, down from 256 sold in November, but up from 232 sold in December 2019.

The total dollar volume sold in Mahoning County improved to $430,077,225 for the year, up 15.8% from $371,556,474 in 2019. In December, the county saw total dollar volume sold improve by 26.1% to $37,973,308, up from $30,111,519 in December 2019.

Mahoning’s average sale price also improved to $150,587 in 2020, up 12.9% from $133,413 in 2019. For the month of December, the average sale price was $154,993, down from $163,226 in November, but up 19.4% from $129,791 in December 2019.

Total sold listings in Columbiana County improved slightly to 917 year-to-date in December 2020, up 1.1% from 907 in 2019. For the month, the county saw 81 listings sold, up from 74 sold in November, and up 11% from 73 sold in December 2019.

Total dollar volume increased to $122,396,040 in Columbiana County, up 6.9% from $114,553,026 in 2019. In December, the county reported $13,120,227 total dollar volume sold for the month, up a huge 51% from $8,688,933 from December 2019.

The average sale price for the year improved by 5.7% to $133,474 last year in Columbiana County, up from $126,298 in 2019. For the month of December, the average sale price increased to $161,978, up from $135,866 in November, and up 36.1% from $119,026 in December 2019.

A lack of new listings continues to plague the region’s residential real estate market. The 18-county area closed 2020 with 57,683 total new listings, down 8.1% from 62,742 the same time last year. In December, the region reported 2,674 new listings, down 30.8% from 2,783 in December 2019.

The local markets didn’t fare much better. Both Mahoning and Columbiana counties saw 15% declines in new listings year-over-year.

Mahoning posted 3,181 new listings in 2020, down from 3,743 the year prior. In December, the county had 145 new listings, down 8.2% from 158 in December 2019.

Columbiana County closed 2020 with 1,111 new listings compared to 1,307 in 2019. For the month of December, it had 56 new listings, up 7.7% from 52 in December 2019.

In Trumbull County, new listings fell 8.2% to 2,467 last year, down from 2,686 in 2019. In December, the county had 114 new listings, down from 125 in December 2019, a year-over-year decrease of 8.8%.

Copyright 2021 The Business Journal, Youngstown, Ohio.