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January home sales in Valley down from 2016

WARREN — Home sales across the Valley fell in January compared with where they were the same month last year.

However, pending sales in Trumbull and Mahoning counties rose despite an ongoing shortage in inventory.

There were 116 closed sales in Trumbull County last month, down 7.9 percent from January 2016, when there were 126, according to the Warren Area Board of Realtors.

Pending sales jumped 27.6 percent, from 134 in January 2016 to 171 last month. New listings were up 14.4 percent, from 202 in January 2016 to 231 last month. The median sales price fell 13 percent, from $79,275 to $69,000, and the average sales price dropped 14.9 percent, from $99,237 to $84,477. The number of days homes were on the market decreased 5.7 percent, from 140 to 132.

Mahoning County had 168 closed sales last month, down 5.1 percent from 177 in January 2016. When comparing last month with January 2016, new listings fell 19.9 percent, from 271 to 217; pending sales rose 22.9 percent, from 179 to 220; the median sales price fell 4 percent, from $75,000 to $72,000; the average sales price rose 18.9 percent, from $87,496 to $104,045; the number of days homes were on the market increased 14.3 percent, from 112 to 128; and inventory was down 42.2 percent, from 1,489 to 879.

business@tribtoday.com

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