Local home sales continue uptick
WARREN – The number of sales that closed on homes increased last month in both Trumbull and Mahoning counties compared to the same time last year, but the double digit jump in Trumbull County heavily outpaced growth in neighboring Mahoning County, according to real estate statistics for October.
The 161 Trumbull County homes that sold in October did represent a dip from the 199 sold one month earlier in September. Mahoning County home buyers purchased 204 homes in October, well above the 171 purchased in September.
Still, numbers from Youngstown and Warren-based Realtor associations indicate the real estate market might be a little softer in Mahoning County, than in Trumbull County where homes are selling faster and at a higher median price.
Compared to a year earlier, Trumbull County home sellers sold 10 percent more than October of 2012; Mahoning County sellers sold just about 2 percent more last month than October 2012, according to statistics from Youngstown and Warren-based Realtor associations.
While median sales prices were up slightly in Trumbull County when compared to the same time last year, Mahoning County’s sales prices dropped significantly. Trumbull’s median selling price was $70,800, up about a point from the previous year. Mahoning County’s median selling price dropped to just $63,500 from $81,000, a difference of more than 21 percent.
Realtors in Trumbull County also reported that homes were selling more quickly than they did in 2012. In Trumbull County, homes were on the market an average of 109 days, compared to 116 in October 2012. In Mahoning County, however, homes remained on the market for 130 days, up from the 127 days in October 2012.
Inventory also varied by counties. Trumbull County reported a 1 percent increase in available inventory, while Mahoning County reported an inventory drop of 9 percent.