Monday, Oct 22, 2018
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Real Estate

Local sales surge 15% for single-family homes

Prices gain 10% in 3rd quarter over last year


Homes for sale in Lucas and Wood counties not only sold for a higher sales price in the third quarter compared to last year, but they stayed on the market for fewer days, Realtors’ data show.

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Single-family home sales in Lucas County and northern Wood County rose 15 percent in the third quarter compared with last year, according to data supplied by the Toledo Board of Realtors.

There were 1,443 sales during the July-September period this year, compared with 1,257 in 2012’s third quarter.

The average sales price increased 10 percent, from $113,210 to $124,436.

Only homes sold by a Realtor are included in the data.

The total sales volume was $180.7 million, up 27 percent from $142 million in 2012.

Sellers got 95 percent of their original asking prices this year, up from 93 percent last year.

Houses stayed on the market an average of 110 days, down from 120 days last year.

While inexpensive houses make up most of the sales, the biggest growth was in higher-priced homes.

Sales of homes costing less than $100,000 increased 6 percent year-over-year, while sales of homes priced $200,000 and up rose a whopping 55 percent.

Of the 1,219 single-family homes in Lucas County that sold in the third quarter, 31 percent of them were sold for less than $50,000. Another 25 percent were less than $100,000.

About 29 percent of the home sales were in the $100,000-to- $200,000 range, with 16 percent costing $200,000 or more.

— Chip Towns

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