LIMA — March home sales in the Lima region dropped 11 percent year over year, according to data from the Ohio Association of Realtors.
Home sales recorded by the West Central Ohio Association of Realtors dropped from 111 in March 2013 to 98 this March. The dollar volume also dropped 5 percent, from $9 million a year ago to $8.6 million this year. The average sale price increased 7.8 percent, from $81,471 a year ago to $87,801 in March of this year.
The region has seen a 10.7 percent drop year to date, comparing January through March of last year with this year.
The West Central Ohio region is made up of Allen, Hardin and Van Wert counties.
Statewide, the trends were similar. The number of homes sold across Ohio in March fell 6.6 percent from the level posted during the month a year ago, according to the data. Home sales activity in March fell 2.3 percent from the level reached in February.
“While activity in the Ohio housing marketplace slipped from levels posted a year ago, overall our sales were able to reach the second-highest mark — both for March and throughout the quarter — since the onset of the economic downturn in 2008,” said OAR President Chris Hall. “A tight inventory of homes for sale and lingering winter conditions have contributed to a less robust housing sector so far this year.”
March’s average home price of $135,730 reflects a 3.3 percent increase from the $131,377 mark posted during the month last year.
Around the state, 17 of the 20 markets tracked reported declines in sales activity levels. The average sales price increased in 12 markets.
Putnam County is part of the Northwestern Ohio Board of Realtors. Auglaize and Mercer counties are part of the Midwestern Ohio Association of Realtors.
Data provided to the association by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops.
For information about the data, visit http://ohiorealtors.org.