February home sales improve
WARREN – The number of Trumbull County homes that sold in February increased by more than 12 percent compared to sales from a year ago and about 12 percent from January, according to statistics from the Warren Area Board of Realtors.
Trumbull County homebuyers closed on 120 sales of existing homes, compared to 107 a year ago and 108 in January.
The number of pending sales also are up more than 6 percent when compared to February 2013 pending sales.
Home sales for neighboring Mahoning County also showed improvement, but did not fare as well as Trumbull.
Numbers from the Youngstown-Columbiana County Association of Realtors show 157 Mahoning County homes were sold in February, up about a percent over the 155 sold in February 2013, and up significantly from the 121 sold in January.
Mahoning median price, however, dropped by nearly a quarter-point, from $80,000 to $60,500.
Trumbull showed an increase in median selling price to $70,000 from $62,450.
Housing stock in both counties remains weak, with inventory among the lowest it has been in a decade.
Statewide, the number of homes sold in February fell 4.3 percent from the level posted during the month a year ago, according to numbers released Monday by the Ohio Association of Realtors.
Home sales activity in February fell 2.9 percent from the level reached in January 2014. It was the second consecutive month of a skid statewide.
Chris Hall, president of the Ohio Association of Realtors, attributed the dip to ongoing poor weather.
“Additionally, it’s apparent that the marketplace, as a whole, is becoming more balanced following an unprecedented streak of 30 months of year-over-year gains. The ongoing stabilization of the state’s housing sector will result in traditional ebbs and flows in activity,” Hall said.
Statewide, February’s average home price of $130,082 increased 4 percent from the $125,061 mark posted during the month last year.