Home sales activity in November nearly matches best-ever levels

The pace of homes sold across Ohio in November fell 1.3 percent from the level set during the month a year ago, according to Ohio REALTORS.

"The Ohio housing marketplace posted solid levels of activity in November -- as sales nearly matched the month's best-ever rate set a year ago, while also recording a steady, positive gain in pricing," said Ohio REALTORS President Tiffany Meyer. "With each passing month it has become increasingly evident that the desire for homeownership remains strong throughout the state and that Ohioans are confident that a home purchase is a smart, long-term investment."

November's average home price of $178,882 reflects a 2.1 percent increase from the $175,196 mark posted during the month last year.

Sales in November reached a seasonally adjusted annual rate of 157,655, a 1.3 percent decrease from the record-setting level set during the month a year ago of 159,684. The market experienced a 6.5 percent increase in sales from the October 2018 seasonally adjusted annual rate of 147,982.

Around the state, 16 of the 18 markets tracked reported an upswing in average sales price during the month. Additionally, 11 markets posted gains or remained unchanged in the pace of sales.

Data provided to Ohio REALTORS by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops. Ohio REALTORS, with more than 33,000 members, is the largest professional trade association in Ohio.