Ohio home sales

set record in May

The rate of homes sold across Ohio in May reached a record-breaking level, increasing 3.4 percent from the rate posted during the month a year ago, according to Ohio realtors.

"Activity in the housing marketplace in May was brisk, as the rate of sales activity reached a best-ever level for the month since Ohio's realtors began tracking data in 1998," said Ohio realtors President Pete Kopf. "Additionally, we continued to see a healthy gain in the average sales price, evidence that housing is a solid, long-term investment.

May's average home price of $176,804 reflects a 5.2 percent increase from the $168,074 posted during the month last year.

Sales in May reached a seasonally adjusted annual rate of 154,106, a 3.4 percent increase from the month's previous best-ever level of 149,002 established during the month a year ago.

The market experienced a 1.2 percent increase in sales from April's seasonally adjusted annual rate of 152,322.

Around the state, 15 of the 18 markets tracked reported an uptick in average sales price. Eleven markets experienced an increase in sales activity.

Data provided to OAR by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops.