The number of homes sold in the area covered by the Firelands Association of Realtors (FAR) showed strong growth across the board in October. The local market posted gains in activity in both total dollar volume and number of units sold according to statistics provided by the Ohio Association of Realtors.
“The Ohio housing market is continuing to maintain a modest, steady pace in terms of its overall level of sales and pricing growth,” said OAR President Thomas Williams. “It appears we are heading into a more traditional housing marketplace…one that stabilizes and experiences ebbs and flows in overall activity.”
In October, the local housing market showed a nearly 12% increase in the number of units sold compared to October of 2012. The total dollar volume increased slightly less at 11.6%, due mostly to a very slight dip in average sale price.
For the year, the total of units sold since January is up over 16% while the total dollar volume in home sales is up over 20% compared to the same time frame last year. The average sale price is up nearly $4,000 per unit sold for the year compared to January through October of 2012.