Area home sales stable during chilly February

First Posted: 3/20/2014

LIMA — The same number of homes sold locally in February despite suffering a decline statewide, according to statistics released Thursday morning by the Ohio Association of Realtors.

The West Central Association of Realtors, which includes Allen, Auglaize, Hardin, Mercer, Putnam and Van Wert counties, saw the number of homes sold stay steady at 82. Still, the total dollar value of homes sold declined 14.4 percent, to $6,661,249, bringing the average home price down to $81,235.

Statewide, home sale activity fell in February by 5.5 percent, and the dollar volume declined by 2.1 percent from last year.

The declines build on a bad January, when a streak of 30 consecutive months of year-over-year increases ended. In this region, the number of homes sold is down 10.1 percent compared to the same two months last year, and the dollar volume is down 14.2 percent.

Statewide, the decline in 5.1 percent in homes sold and 0.7 percent in dollar volume. The association noted declines in sales activity levels in 16 of 20 markets statewide.

“Extreme winter conditions played a role in cooling home sales activity throughout Ohio, as our level of activity slid slightly for the second consecutive month,” Chris Hall, president of the Ohio Association of Realtors, said in a press release, noting a survey of Realtors showed cold conditions affected sales.

It’s also a sign the market stabilized after the two-plus years of growth, Hall said.

“The ongoing stabilization of the state’s housing sector will result in traditional ebbs and flows in activity,” Hall said.

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