Northeast Ohio Home Sales are up in 2015

Dec 27, 2015

Northeast Ohio home sales are up about 14 percent from the same time last year. That’s according to the Northern Ohio Regional Multiple Listing Service, which lists properties for 18 counties. WKSU’s Kevin Niedermier reports.

Carl DeMusz of the Northern Ohio Regional Multiple Listing Service says in recent years the region has seen a slow but steady home-sales increase.  But in the last year he says the number of homes on the market has increased considerably.

Optimism is driving home listings, sales and prices in Northeast Ohio.
Credit WKSU

“We’re seeing a recovery in the number of listings, so people are feeling more comfortable in selling their homes. That means that they feel the average price is coming up and their homes will be selling, so they are putting them on the market. And of course there’s more buyers.”

DeMusz says over the last year, the average sales price in the region has risen 3 percent to just over $139,000. He credits pent-up demand, stronger job growth and things like the Republican National Convention coming to Cleveland for home buyer and seller optimism, which he expects to continue into next year. He says the recent interest-rate increase should not impact the upward trend.