Ohio’s June and 2nd Quarter 2017 Home Sales

The rate of homes sold across Ohio in June reached a record-breaking level, increasing 0.6 percent from the rate posted during the month a year ago, according to Ohio REALTORS®.

“Through the mid-point of 2017 the Ohio housing market has been able to experience a solid level of sales activity and steady, modest growth in pricing,” said Ohio REALTOR® President Pete Kopf. “It’s evident that we’re continuing to make significant progress in building a stable foundation for the housing sector, as more Ohioans are exhibiting confidence that a home purchase is a solid, longterm investment.

“Ohio’s REALTOR® community remains hopeful that we will begin to experience a rise in the number of homes being listed for sale so that we can continue to move the marketplace forward.”

June’s average home price of $185,742 reflects a 4 percent increase from the $178,588 mark posted during the month last year.

Sales in June reached a seasonally adjusted annual rate of 149,185, a 0.6 percent increase from the month’s previous bestever level of 148,312 established a year ago. The market experienced a 3.2 percent decline in the rate of sales from May’s seasonally adjusted annual rate of 154,106.

Around the state, 11 of the 18 markets tracked reported an uptick in average sales price or experienced no change. A total of 11 markets experienced an increase in sales activity.

Home sales during the second quarter were up 1.6 percent from the same period a year ago and 0.2 percent from the mark set in the first quarter 2017. Specifically, the second quarter 2017’s seasonally adjusted annual rate reached 151,636, a 1.6 percent increase from the quarterly pace a year ago of 149,318. Sales during the recent quarter were 0.2 percent ahead of the first quarter 2017 mark of 151,327. Second quarter 2017 dollar volume of $7.8 billion is up 5.1 percent from the same period last year.

Data provided to OAR by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops. Ohio REALTORS®, with more than 31,000 members, is the largest professional trade association in Ohio. The methods addressing OAR’s reporting of home sales activity is available at www.ohiorealtors.org.

Members of the Lorain County Association of REALTORS® care about the community in which they live, work and support. Lorain County offers a wide variety of choices.

The National Association of REALTORS®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

The Lorain County Association of REALTORS® is one of more than 1,200 local boards and associations of REALTORS® nationwide that comprise the National Association of REALTORS®. The National Association of REALTORS®, “The Voice for Real Estate,” is America’s largest trade association, representing more than one million members involved in all aspects of the residential and commercial real estate industries.

The Lorain County Association of REALTORS® offers a website that provides a complete listing of REALTOR® real estate brokerages in Lorain County, contact information for REALTOR® members, and industry associates. If you are a first time homebuyer or a repeat buyer consider www. MyNewCommunity.net or www.LoCAR.org as a good source for Lorain County REALTOR® information.

REALTOR® is a registered collective membership mark which may be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its strict Code of Ethics. Not all real estate sales agents are REALTORS®. All REALTORS® are members of NAR along with their State and Local Associations.

Chad Schneider