Trumbull home sales jump
WARREN – Trumbull County buyers closed on 151 home sales in April, up more than 14 percent than the 132 homes purchased this time last year.
Sales also remain up about 8 percent for the year, according to numbers released Tuesday by the Youngstown-Columbiana County Association of Realtors.
Mahoning County April sales were not as brisk, however. Sales in that county slipped by nearly 5 percent to 198 in April from the 208 homes sold in April 2013, statistics show.
Both counties continue to be hampered by a tight inventory that remains at a three-year low. Trumbull County Realtors are listing 1,001 homes for sale, which is down more than 14 percent from a year ago. Mahoning County Realtors listed 1,211 homes on the market, also down nearly 15 percent from the 1,421 listed at this time last year.
The low inventory is likely contributing to the rising home prices in the market and quicker turnaround reported in both counties.
Trumbull homes were selling in April at a median price of $71,000, which is up about 3.6 percent from the $68,500 average in April 2013. It is on par with the average selling price year-to-date from last year. The homes were selling an average of eight days faster than in 2013.
Mahoning County median sales price was up about 15 percent to $74,500 from the $65,500 median price a year ago, and up slightly, but less than 1 percent, in year-to-date median price comparisons.
Mahoning County homes were selling about five days quicker, on average, in April compared to last April.
Statewide, April home sales dipped by about 4.2 percent compared to April 2013 sales, the Ohio Association of Realtors reported.
OAR President Chris Hall said the organization remains confident about the Ohio market.
“As interest rates remain favorable, prices continue to trend upward and consumers understand that long-term, home ownership is a tremendous investment,” Hall said.
April’s statewide average home price of $144,734 reflects a 7.4 percent increase from the $134,775 mark posted during in April last year.
Around the state, 14 of the 20 markets tracked reported declines in sales activity levels during the month. All but three local markets showed an increase in average sales price, according to OAR statistics.