Pending housing sales in March up year over year

Staff report

YOUNGSTOWN

All three counties in the Mahoning Valley saw increases in pending home sales in March.

In Mahoning County, closed sales in March dropped 2.5 percent to 236 from 242 reported in March 2016. Pending sales in the county increased 32.2 percent to 337 from 255 reported in March 2016, the Youngstown/Columbiana County Association of Realtors reported.

New listings dropped 1.1 percent from 357 reported in March 2016 to 353 reported in March 2017. The inventory of homes for sale dropped by 38.1 percent to 901, down from the 1,456 reported in March 2016.

The average sales price for a home in the county increased 2.5 percent to $108,746 from $106,107.

March closed housing sales in Columbiana County dropped 6.6 percent year over year to 57, compared with 61 sold in March 2016. Pending sales were up 52.2 percent to 105 from 69 reported in March 2016.

New listings in the county dropped 4.6 percent to 125 from 131 the previous year. The inventory of homes for sale dropped 15.5 percent from 485 reported in March 2016 to 410 reported in March 2017.

The average sales price of a home dropped 8.4 percent to $112,042. Last March, the average sales price was $122,364.

In Trumbull County, closed sales in March were up 18.5 percent year over year to 186 from 157 reported in March 2016, according to the Warren Area Board of Realtors. Pending sales in the county increased 40.1 percent year over year to 255 from 182 reported the previous March.

New listings in the county increased 3.5 percent to 264 from 255 reported in March 2016. Inventory of homes in the county dropped 19.2 percent year over year from 1,020 to 824.

The average sales price for a home in March 2017 was $93,499, up 2.9 percent from $90,879 reported in March 2016.