Ohio's first quarter home sales break records
The Ohio housing market reached record-breaking levels during the first quarter for both sales activity and average price, according to statistics provided by the state's Multiple Listing Services.
"The one consistent--in an otherwise uncertain economic environment--has been a robust real estate market," said OAR President Jim West. "Favorable interest rates, a recovering economy, rising consumer confidence and an array of affordable housing in every price category have converged to make the American Dream of homeownership a reality for a record number of Ohioans during the first three months of the year."
Statewide sales of new and existing homes this year (January-March) total 27,488 a 6.0 percent increase from the 25,940 sales posted in during the first quarter in 2004, which previously served as the best-ever mark.
The state's average sale price (January-March) of $147,172 marks a 4.5 percent increase from the $140,830 average posted in 2004. The year-to-date total dollar volume of $4 billion is 10.7 percent ahead of the $3.6 billion level posted during the period last year.
Sales reached 11,929 in March, a 5.9 percent increase from the 11,261 sales recorded during the month last year.
Data provided to OAR by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops.
"The one consistent--in an otherwise uncertain economic environment--has been a robust real estate market," said OAR President Jim West. "Favorable interest rates, a recovering economy, rising consumer confidence and an array of affordable housing in every price category have converged to make the American Dream of homeownership a reality for a record number of Ohioans during the first three months of the year."
Statewide sales of new and existing homes this year (January-March) total 27,488 a 6.0 percent increase from the 25,940 sales posted in during the first quarter in 2004, which previously served as the best-ever mark.
The state's average sale price (January-March) of $147,172 marks a 4.5 percent increase from the $140,830 average posted in 2004. The year-to-date total dollar volume of $4 billion is 10.7 percent ahead of the $3.6 billion level posted during the period last year.
Sales reached 11,929 in March, a 5.9 percent increase from the 11,261 sales recorded during the month last year.
Data provided to OAR by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops.
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