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More spring statistics

As spring continued in May, the housing market made steady gains.

Inventory is improving, and the number of housing sales is increasing. Average sale prices have declined slightly, but homes are becoming affordable.

In Trumbull County, the number of active listings jumped from 551 in May 2021 to 582 in May 2022. The number of homes sold increased from 186 in May 2021 to 223 in May 2022. Market time climbed from 40 days in May 2021 to 55 days in May 2022. And the average sale price went from $156,240 in May 2021 to $128,641 in May 2022.

In Stark County, compared to the number of active listings in May 2021 at 969, May 2022 showed a slight decrease to 935. The number of home sales for May 2021 was 413, jumping to 480 in May 2022. The average market time was 24 days in May 2021 and increased slightly to 29 in May 2022. The average sales price for homes in Stark county was $219,159 in May 2021. In May 2022, the average sales price dropped slightly to $214,249.

In Carroll County, active listings went from 104 in May 2021 to 79 in May 2022. Home sales increased from 21 in May 2021 to 36 in May 2022. The average market time went from 67 days in May 2021 to 60 days in May 2022. And the average sale price decreased slightly from $210,728 in May 2021 to $203,663 in May 2022.

As we get ready to begin summer — the busiest time in real estate sales — we look for further gains and improvements in the market.

Marlin Palich is president of Stark Trumbull Area Realtors, serving Stark, Carroll and Trumbull counties.

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