Home sales rise, prices fall in area for month

The Toledo-area housing market exhibited more evidence of struggles last month, with home sales increasing but the average sales price declining.

The northwest Ohio region covered by the Toledo Board of Realtors had 506 home sales in August, up from 447 in July but down considerably from the 639 for August, 2009.

The average price, however, dropped to $101,643 from $110,277 in July and from $103,773 a year ago, according to the local trade group's report released yesterday.

The numbers show sales are stabilizing, with 4,301 through the first eight months of this year, just 20 more than in the same period a year ago.

But the selling price has fluctuated in different months this year from a year ago.

Sales of foreclosed homes have contributed to the lowered selling prices, local real estate agents have said.

The Realtors group said Lucas County had 294 sales last month, up from 268 in July but down from 381 a year ago.

The average selling price was $91,031 last month, down from $106,751 the month before and from $101,838 in August of 2009.