Home sales in the Mahoning Valley in January showed a stable start to the year, while sales across the state were the real bright spot.
In Mahoning County, the median sale price increased by 16.8 percent, going from $62,500 in January 2012 to $73,000 last month. Closed sales were up by 10.2 percent with 140 homes sold in January, an improvement from 127 during the same time last year.
Though the median sale price in Columbiana County increased by 16.7 percent, going from $67,500 last year, to $78,750 in January, sales were unchanged, with 50 homes sold in both January 2012 and January 2013.
For the most part, closed sales in Trumbull County were similar to the trend in Columbiana County, with closings staying largely the same. There were 97 homes sold in January 2012 and 96 homes sold last month.
The median sale price increased, however, with homebuyers in Trumbull County paying 8.8 percent more compared with 2012. Median sales went from $59,750 last year to $65,000 in January.
Across Ohio, the housing market had a robust start to the year, with the number of homes sold reaching the third-highest total ever in January and the statewide average sales price continuing to go up.
Ohio home sales reached 7,254 in January, an 18.7 percent increase from last year when 6,113 homes were sold. Last month’s average sales price reached $120,437, a 4.3 percent increase from $115,434 in January 2013.
Nationwide, sales of previously occupied homes rose in January to the second-highest level in three years, a sign the housing market is maintaining its recovery and helping to bolster the economy.
The National Association of Realtors said Thursday that sales rose 0.4 percent in January compared with December to a seasonally adjusted annual rate of 4.92 million. The median price for a home sold in January was $173,600, an increase of 12.3 percent from a year ago.