By John Schaffner
Home sales activity throughout the local area and throughout Ohio saw a huge increase in the month of October, according to the Ohio Association of Realtors.
Home sales in the area covered by the Firelands Association of Realtors (Erie, Ottawa and Huron Counties) jumped 10.7% in 2012 compared to October of 2011. Dollar volume went up over 20% to over $21-million compared to under $18-million last year. The final piece of good news was an increase in average sale price from $106,000 in 2011 to over $115,000 in October of 2012.
The statistics continue to be encouraging for the year with the number of units sold in the Firelands area up by 4.6%; dollar volume up 8.7% and the average sale price up almost 4%. The local numbers are not as good in comparison to the statewide figures reported by OAR. In Ohio, the number of units sold has jumped over 13%, the dollar volume up nearly 19% and the average sale price is up just under 5% for the first 10 months of 2012 compared to the same period in 2011. Just in the month of October, home sales activity in Ohio increased 23.1%.
“It’s become increasingly evident that the Ohio housing market is making significant progress in its recovery from the economic downturn – achieving increased sales activity for the 16th consecutive month and seeing a steady uptick in the average sales price,” said Robert Miller, president of the Ohio Association of Realtors.