Home sales down in 2 of 3 Valley counties

By Don Shilling

Sale prices were up from February but lagged behind prices from last spring.

Home sales in the Mahoning Valley were slow to warm up in March.

During a cold and snowy start to spring, Mahoning and Columbiana counties recorded fewer home sales last month when compared with March 2007. Trumbull County, however, posted a small gain.

For the past year, real estate professionals have said the local housing market has been battling an increase in foreclosed homes on the market and a weakened economy that has people wondering about the economic future.

The Youngstown Columbiana Association of Realtors recently provided figures that show a mixed picture as the local housing market attempts to bounce back.

Mahoning County recorded 162 home sales last month. That was better than the 123 that were recorded in February but below the 173 recorded in March 2007.

Trumbull County recorded 118 home sales in March, compared with 115 in March 2007. Last month’s sales were down, however, from February’s count of 133.

In Columbiana County, 50 home sales were recorded last month, down from 57 in February and 59 in March 2007.

The numbers represent closings, which typically occur about 30 days after a deal is signed.

The prices of those deals show a market that is trying to come back. Median sale prices last month were up significantly from February but remained behind prices from March 2007.

The median price is the number in the middle of all homes sold.

The median sale price in Mahoning County last month was $71,500, compared with $59,000 in February and $79,900 in March 2007.

The median price in Trumbull County last month was $75,300, compared with $68,000 in February and $82,500 in March 2007.

The median price in Columbiana County last month was $70,800, compared with $58,500 in February and $88,300 in March 2007.

shilling@vindy.com