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Home prices in Ohio were up in March despite a slight dip in sales from last year’s record level, according to new data released by Ohio Realtors.
March’s average home price in Ohio was $171,396, five percent above the $163,255 mark reached in March 2017. Last month’s sales activity was at a seasonally adjusted annual rate of 153,863, a slight 0.3 percent downturn from the record-setting 154,261 level recorded one year earlier. On a monthly measurement, the Ohio market saw a 3.2 percent increase from the February seasonally adjusted annual rate of 149,042 homes sales.
“Activity levels in March were extremely solid across the Buckeye State, as our sales totals nearly matched the record-breaking pace set during the month last year,” said Ohio Realtors’ President Tiffany Meyer. “We’re also experiencing a continued, steady rise in the average sale price, an indication that housing is a solid, long-term investment. The March sales level provides a welcomed start to the spring home buying season. The profession is hopeful that we’ll see an uptick in the number of homes being marketed for sale, a key factor in ensuring that the momentum we’ve attained continues.”
