Ohio’s May 2017 Home Sales

The rate of homes sold across Ohio in May reached a record-breaking level, increasing 3.4 percent from the rate posted during the month a year ago, according to Ohio REALTORS®. “Activity in the housing marketplace in May was brisk, as the rate of sales activity reached a best-ever level for the month since Ohio’s REALTORS® began tracking data in 1998,” said Ohio REALTORS® President Pete Kopf. “Additionally, we continued to see a healthy gain in the average sales price, evidence that housing is a solid, long-term 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.”

May’s average home price of $176,804 reflects a 5.2 percent increase from the $168,074 mark posted during the month last year.

Sales in May reached a seasonally adjusted annual rate of 154,106, a 3.4 percent increase from the month’s previous best-ever level of 149,002 established during the month a year ago. The market experienced a 1.2 percent increase in sales from April’s seasonally adjusted annual rate of 152,322.

Around the state, 15 of the 18 markets tracked reported an uptick in average sales price. A total of 11 markets experienced an increase in sales activity.

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

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.

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.