Ohio’s September 2017 Home Sales

by Chad Schneider 2017 President, Lorain County Association of Realtors®

The rate of homes sold across Ohio in September reached a best-ever level, posting a marginal increase from the mark posted during the month a year ago, according to Ohio REALTORS®.

“Through the threequarter mark of 2017 the Ohio housing market has been able to display sustained strength in the overall level of sales activity, along with a healthy growth in pricing,” said Ohio REALTORS® President Pete Kopf. “It’s evident we’re continuing to make significant progress in rebuilding the foundation of the state’s housing sector.

“The fact that our sales pace in September set a new record is a clear indication that the interest in attaining the dream of home ownership remains strong among Ohioans.”

September’s average home price of $172,910 reflects a 4.3 percent increase from the $165,850 mark posted during the month last year.

Sales in September reached a bes-ever, seasonally adjusted annual rate of 149,926, nearly identical to the 149,920 level reached during the month a year ago. The rate of sales recorded in September 2017 reached a bestever level for the month, surpassing the month’s previous record set a year ago.

The market also experienced a 0.5 percent decrease in sales from the August’s seasonally adjusted annual rate of 150,657.

Around the state, 14 of the 18 markets tracked reported upswings in average sales price, while the rate of home sales dropped in 12 markets compared to September 2016.

Home sales during the third quarter of 2017 were up 1.6 percent from same period a year ago. Specifically, third quarter 2017’s seasonally adjusted annual rate reached 150,240, compared to 147,868 during the three-month period a year ago. Third quarter 2017 dollar volume of $7.4 billion is up 4.1 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.

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.

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.