Trumbull home sales increase over last year

WARREN — Home sales in Trumbull County rose 12 percent in October compared to the same month in 2015.

Last month, there were 196 closed home sales versus 175 in October 2015, according to the Warren Area Board of Realtors. Pending sales jumped 49 percent to 222 in October from 149 the same month last year. However, new listings fell 2.6 percent, from 229 to 223. The median sales price rose 8.5 percent from $79,250 to $86,000, while the average price fell 3.4 percent 3.4 percent from $98,500 to $95,121. The number of days homes were on the market was consistent with 100 for the month for both years.

The county’s inventory fell 19 percent last month from 1,227 in October 2015 to 994 last month.

Year-to-date as of Oct. 31, Trumbull County, saw a 2.7 percent increase in closed home sales with 1,721 compared to 1,676 in the same period last year. For the first 10 months of the year, pending sales were up 5.8 percent, from 1,752 last year to 1,854 this year. But new listings fell 1.3 percent from 2,637 in 2015 to 2,603 this year. The median sales price rose 1.3 percent from $80,000 to $81,000, while the average sales price fell 0.8 percent from $95,505 to $94,754. The number of days homes were on the market increased 4.4 percent from 113 to 118.

Mahoning County had 229 closed sales last month, down 6.5 percent from 245 in October 2015. When comparing last month to October 2015, new listings fell 30.3 percent from 258 to 370; pending sales rose 25.7 percent, from 214 to 269; the median sales price dropped 3 percent from $82,500 to $80,000; the average sales price rose 9.6 percent from $104,168 to $114,207; the number of days homes were on the market increased 27.1 days from 96 to 122; and inventory was down 35.8 percent from 1,764 to 1,132.

For the first 10 months of the year compared to the same period in 2015, Mahoning County had a 0.8 percent increase in closed sales, from 2,325 to 2,344; 19 percent drop in new listings, from 3,235 to 3,993; 1.2 percent increase in pending sales, from 2,424 to 2,452; 6.4 percent increase in median sales price from $79,900 to $85,000; 6 percent increase in average sale price from $104,486 to $110,804; an 8.2 percent increase in the number of  days on the market, from 110 to 119.

Year-to-date inventory comparisons were not available for either county.

business@tribtoday.com

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