Local home sales see rebound

WARREN – Home sales saw double-digit increases last month in both Trumbull and Mahoning counties, according to statistics from Youngstown and Warren-based Realtor associations.

Trumbull County saw the larger increase to 171 sales, up about 28 percent over this time last year. Mahoning County home sales increased to 199 in September, up by 24 percent over a year ago.

The increase meant a large rebound from August sales when both counties experienced dips in sales. Trumbull County buyers in August closed deals on 160 homes, which was down about 9 percent from August 2012, according to statistics from the Warren Area Board of Realtors.

Mahoning County buyers in August had closed on 212 homes, which was down about 3 percent from August 2012, according to statistics provided by Youngstown-Columbiana Association of Realtors.

Median sales prices also increased in each county, a continuing sign of a housing industry recovery. Buyers in Trumbull County paid 3 percent more for a home in September, for an average of $70,100, up about 3 percent from the $69,900 average they were paying in September 2012.

Mahoning County buyers agreed to pay an average of $91,000, up 26 percent from the median price of $72,000 in September 2012.

Another positive sign came with an improving inventory and quicker sales. Trumbull homes on average sold in 95 days, down from the 114-day average in 2012. Mahoning homes sold after being on the market an average of 106 days, also down from the 112-day average of 2012.

Inventory of available homes in Trumbull County increased by 3 percent over September 2012 after earlier this year dipping to its lowest point in years. Mahoning County inventory remained low, down 8 percent compared to September 2012, but up slightly over inventory numbers from earlier this year.