The average price of an existing home sold last month in northwest Ohio fell 17 percent from a year earlier to $86,000, the Toledo Board of Realtors reported yesterday.
The drop continues a trend that began last year, and which was fueled in part by lower-end foreclosures working their way through the system. The average sales price of a single-family home across the region dropped from $104,000 in January, 2008, and $90,000 in December. The figures don't include new homes or condominiums.
The number of sales in January fell 5 percent region-wide, but rose slightly in Lucas County. There were 243 sales in the county, up from 238 in January, 2008. They accounted for the bulk of the 359 houses across the area last month.
The average sales price last month in Lucas County dropped to $72,000, down 31 percent or $32,000 from a year earlier.