The number of homes sold across Ohio increased 1.6 percent in November, as the market posted year-over-year gains in activity for the 29thconsecutive month, according to the Ohio Association of Realtors.
“While the Ohio housing marketplace is continuing to make progress in overcoming the difficulties caused by the economic downturn, it’s evident that we continue to face many challenges on the path toward recovery,” said OAR President Thomas J. Williams. “Our current level of sales activity, while maintaining an unprecedented string of consecutive monthly gains, reflects a market that is stabilizing at a more modest, traditional pace.”
Sales through the first 11 months of 2013 reached 120,254, a 6.8 percent increase from the 112,638 sales posted during the same period a year ago. The average sales price (January through November) this year is $142,295, a 5.2 percent increase from the $135,258 mark set during the period a year ago.
Total dollar volume this year has topped $17.1 billion, a 12.3 percent increase from the 11-month mark of a year ago of more than $15.2 billion.
Sales in November reached 9,518, a 1.6 percent increase from the 9,364 sales posted during the month a year ago. The November 2013 sales total is the month’s best mark since 2006. The average sales price of $136,468 is a slight 0.7 percent increase from the $135,551 average price posted in November 2012.
Locally, the Firelands Association of Realtors reported that 209 homes were sold in November, up from 192 the previous November. The dollar volume was $24,929,526 (11.2% higher than the $22,408,859 total in 2012) and the average sale price was $119,280 (up 2.2% from the $116,713 average).
For the year, 2,332 units have been sold, totaling $275,629,819 — an average of $118,195 per unit. That compares with the January-November 2012 totals of 2,187 units sold (6.6% increase), $250,084,125 dollar volume (10.2% increase) and $114,350 average sale price (3.4% increase).
Data provided to OAR by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops. The Ohio Association of REALTORS, with more than 26,000 members, is the largest professional trade association in Ohio.