Sales of single-family homes in August rose 3 percent in Lucas County and 10 percent in a 12-county area of northwest Ohio compared to a year ago, a refreshing tone for the area's housing market.
But the average home sale price for both areas fell 13 percent, according to figures released yesterday by the Toledo Board of Realtors.
In Lucas County, 387 homes were sold last month, compared with 374 a year ago. The average price of homes sold was $103,000, down from $119,000 a year ago.
There were 634 homes sold last month in the local Realtors group territory in northwest Ohio, up from 576 a year ago. The average sale price in August was $104,000 versus $119,000 a year ago.
David Browning, president of Welles Bowen Realtors in Toledo, said the declining average home sale price remains a by-product of Ohio's high foreclosure rates. Homes sold at sheriff's auctions typically sell for less money than they may be worth and thus lower the overall numbers.
The increase in home sales, even though slight, is good news, Mr. Browning said. "The active listing inventory is now down below 2006 levels, and that's the first month all year where those numbers were that low," he said.Most area real estate officials didn't expect sales numbers to increase until this month or October, he said.
In its report, the realty board said condominium sales declined 7 percent last month from a year ago, both in Lucas County and in northwest Ohio. The average sale price of condos in Lucas County fell 10 percent to $144,000. In northwest Ohio, it fell 7 percent to $143,000.
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