October home sales up 3% from a year ago

Time on market down, but avg. price also falls

11/15/2013

Sales of single-family homes in Lucas and northern Wood County rose slightly in October when compared with the same month last year. The average sales price dropped slightly.

According to the Toledo Board of Realtors, 431 homes sold last month, up 3 percent from October, 2012. October sales were 6 percent lower than September’s.

The average price of $113,385 was down 1 percent from last year, but up 1 percent from September.

One thing that did change was the length of time houses stayed on the market. Houses that sold in October, 2012, had been on the market for an average of 124 days. Last month, that figure dropped to 102 days.

Also, 707 listings were added in October, up 9 percent from a year earlier. Still, the number of active listings (3,842) is 5 percent lower than last year. Realtors have said demand is such that well-maintained homes that go up for sale and are priced reasonably will sell quickly.

For the year so far, sales are up 9 percent and the average price is up 8 percent, to $117,135.

For the entire Multiple Listing Service area in northwest Ohio, sales were up 1 percent last month, and the average price of $110,248 was about the same as last year.

For the first 10 months of 2013, sales are up 9 percent and the average price is up 7 percent.

The data includes only homes that were sold by a Realtor.