The Future Of The Ohio Housing Market

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Home sales and values in the state of Ohio from January-April 2009.

Homes Sold Statewide for 2008 33,194....Statewide for 2009 26,838 -19%

Sale Price Statewide for 2008 $132,225....Statewide for 2009 $112,713 -14%

Local MLS/Cities Homes Sold...2008/2009/percentage

Ashland /137/95/-30%
Athens /93/98/+5%
Cincinatti /5,663/4,804/-15%
Columbus /6,112/4,947/-19%
Dayton /3,499/2,909/-16%
Firelands /593/517/-12%
Portsmouth /123/101/-18%
Heartland /390/281/-28%
Knox /127/90/-29%
Lancaster /228/179/-21%
Licking /319/299/-6%
Mansfield /425/348/-18%
Marion /204/184/-10%
Cleveland Area /10,904/8,378/-23%
Scioto /229/213/-7%
Toledo /1,955/1,868/-4%
Wayne Holmes /177/131/-26%
West Central /468/274/-41%
Logan Shelby /1,252/863/-31%
Zanesville /296/259/-12%

Ohio's housing market continued to provide positive signs of stabilization in April -- Posting an increase in sales over the prior month for the third consecutive reporting period and a renewed buzz among the industries professionals that consumers are poised to get off the fence and into the housing market reports the Ohio Association of Realtors.

"We're optimistic about the long-term prospects of the Ohio real estate marketplace... The light at the end of the tunnel is not too far off," Said OAR president, Jonathon M. Hall. "The housing sector in the Buckeye State, like much of the nation, has begun to shake off the doldrums brought on by the financial crisis and global economic downturn.

"While not reflected in our sales our activity report, Realtors throughout the state are reporting increased interest among potential home buyers as a result of the $8,000 not repayable tax credit for the first-time homebuyers, the historic low interest rates, an abundance of affordable housing in all price categories and realistic expectations of both buyers and sellers," Hall added.

Statewide sales of new and existing homes during the first four months of the year (January-April) totalled 26,838 19.1% behind the 33,194 sales posted during the period a year ago.

The state of Ohio's average sales price (January-April) of $112,713 makes a 14.8% decrease from the $132,225 average price posted during the period a year ago. The total dollar volume reached 3 billion, a 31.1 % decrease from the 4.4 billion in 2008.

Sales in April reached 7,861 an increase from the March sales mark of 7,493 but a 20.1% decrease from 9,835 sales posted during the month a year ago.

Data provided to OAR by multiple listing services residential closing for new and existing single-family homes and condos/co-ops.