CLEVELAND — Editor's note: The video in the player above is from a story published on June 16, 2021.
The Ohio housing market is definitely on the upswing as people try to get back to a "normal life" in this post-pandemic world.
Home sales throughout the state of Ohio were up almost 20 percent last month compared to May 2020, according to new research.
Ohiorealtors.org found that "home unit sales in May 2021 reached 14,130, a 19.8 percent jump from the 11,790 sales recorded during the month last year. The average sales price across Ohio in May reached $243,641, an 18.1 percent increase from the $206,240 mark posted during the month in 2020."
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“The Ohio housing market maintained its momentum in May, as both sales activity and values experienced healthy gains,” said Ohio REALTORS President Seth Task. “The May results are a clear indication that the traditional spring home buying season is in full bloom."
However, this increase in the housing market is not just happening in Cleveland and the Northeast Ohio region.
Ohio Realtors report that 12 of the 16 markets tracked experienced an increase in average price compared to May 2021. Additionally, 12 local markets showed an increase in sales activity compared to a year ago.
In the United States, the median existing-home price in May was over $350,000 for the first time ever, according to the National Association of Realtors.
That number was nearly 24 percent higher than a year ago, the biggest year-over-year price increase the National Association of Realtors has recorded in data going back to 1999.
Only time will tell if the month of June sees the same increase in the housing market.
Editor's note: The video in the player above is from a story published on April 16, 2021.