The Morning Journal (Lorain, OH)
Ohio’s August 2017 Home Sales
by Chad Schneider 2017 President, Lorain County Association of Realtors®
The rate of homes sold across Ohio in August reached a record-breaking level, increasing 4.2 percent from the mark posted during the month a year ago, according to Ohio REALTORS®.
“The Ohio housing market is continuing to experience a solid level of sales activity and steady growth in pricing,” said Ohio REALTORS President Pete Kopf. “It’s evident, based on August’s record-breaking level of activity, that the desire to achieve the American Dream of home ownership is strong across Ohio.
“Further, 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.”
August’s average home price of $178,675 reflects a 6.2 percent increase from the $168,303 mark posted during the month last year.
Sales in August reached a seasonally adjusted annual rate of 150,657, a 4.2 percent increase from the 144,627 level reached during the month a year ago. The rate of sales recorded in August 2017 reached a best-ever level for the month, surpassing the month’s previous record set in 2005 (148,277).
The market also experienced a 2.7 percent increase in sales from the July’s seasonally adjusted annual rate of 146,762.
Around the state, 11 of the 18 markets tracked reported upswings in average sales price. Similarly, the rate of home sales increased in 11 markets compared to August 2016.
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.
Today’s sellers and buyers have a lot of choices when it comes to REALTOR® representation, whether full-service or limited service. Make sure that expectations regarding level of service, communication and representation are agreed upon before selecting a REALTOR®, a member of the Lorain County Association of REALTORS®. Members of the Lorain County Association of REALTORS® care about the community in which they live, work and support.
REALTORS® support plans to help America’s housing market and homeowners. Improving access to simple, low-cost refinancing and streamlining the process will help hardworking families who have stayed current on their mortgage payments and will go a long way to helping keep more families in their homes. REALTORS® also support the renovation of homes in order to sell to owner-occupants.
Do your research and take advantage of the many housing opportunities right here in Lorain County and Northeast Ohio. We are fortunate to live in a region with such vast offerings. From big to small, country to city... it’s available here! Our proximity to highway and freeway access provides great commute options both east and west! Contact your LoCAR REALTOR® member today.
The National Association of REALTORS® is known as “The Voice of Real Estate.” NAR members are outspoken consumer advocates actively engaged in all elements of the residential and commercial real estate industries. REALTORS® support the American Dream of homeownership while working to create stronger, more vibrant communities in which to live and work.
As an organization, NAR is leading the drive for home ownership in many ways. NAR encourages all REALTORS® to become aggressive advocates for successful housing opportunities for families and businesses throughout the U.S. Remember, Home Ownership Matters. Members of the Lorain County Association of REALTORS® care about the community in which they live, work and support.
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 nearly one million members involved in all aspects of the residential and commercial real estate industries.
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 Association.