Local housing market fared well in June

VW independent staff/submitted information

COLUMBUS — The number of homes sold throughout Ohio in June fell from the pace set during the month a year ago while average prices continued to climb, according to Ohio Realtors.

Homes sales in June reached 13,225, a 13.5 percent decline from the 15,297 sales recorded during the month a year ago. The average sales price across Ohio reached $292,433, a 3.7 percent increase from the $281,968 mark posted in June 2022.

The trend was different in the West Central region, which is comprised of Allen, Hardin and Van Wert counties. 255 homes were sold last month, a 26.2 percent increase (202) over June, 2022. The average sale price was $205,111, a 12.3 percent increase over last June ($182,689).

During the month of June, Ohio’s most expensive housing market was Columbus, with an average sale price of $370,552. The most affordable market was Lancaster, $149,027.

“The factors that have been prevalent in Ohio’s housing market throughout the year, notably a higher interest rate environment combined with low inventory levels of homes listed for sale, continue to present a challenge for home buyers,” said Ohio Realtors President Ralph Mantica.

Around the state, 11 of the 14 markets tracked experienced an increase in average price for the month compared to June 2022. Additionally, one local market showed an increase in sales activity compared to a year ago. Sales activity through the first six months of 2023 reached 61,389, a 16 percent decrease from the 73,124 sales reached during the first half of 2022. The average price during the first six months of 2023 of $266,790 is a 3.3 percent increase from the $258,387 mark reached during the period a year ago.

Data provided to Ohio Realtors by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops.

Ohio Realtors, with nearly 37,000 members, is the largest professional trade association in Ohio.