LIMA — Home sales in Ohio were up in 2020 compared to 2019, according to year-end statistics compiled by Ohio REALTORS.
The number of homes sold in Ohio was 161,960 in 2020, up 4.5% from 2019. The average sales price also rose, going from $193,339 in 2019 to $212,517 in 2020, a 9.9% increase. The total dollar volume also increased, going from $30 billion in 2019 to $34.4 billion in 2020.
“Ohio’s housing market was able to overcome a host of significant, unforeseen challenges throughout 2020 en route to posting healthy gains in both number of homes sold and average price,” said Ohio REALTORS President Seth Task. “Despite the onset of the COVID-19 pandemic and the persistent complications posed by the tight supply of homes listed for sale, Ohioans still opted to make a move in 2020 due in large measure to the historic low mortgage rates.”
In the West Central region, 2,313 units were sold in 2020 compared to 2,142 in 2019, an increase of 8%. As for the total dollar volume, sales for 2020 came in at $342,506,890 in 2020 compared to $284,327,374 in 2019, an increase of 20.5%. The average sale price for a home in the West Central region went from $132,739 in 2019 to $148,079 in 2020, an increase of 11.6%.
Statewide, sales in December 2020 reached 13,927, an 18.4% increase from the December 2019 level of 11,767. The market also posted a gain in average home price in December, reaching $217,825, a 14.3% increase from the $190,506 mark posted in December 2019.
Around the state, 15 of the 16 markets tracked experienced an increase in average sales price for the year compared to 2019. In terms of sales activity, 14 local markets posted year-end increases compared to 2019.
Reach Sam Shriver at 567-242-0409.