STAR Housing Stats | September 2023

The STAR September 2023 Stats are now available for you to review and/or share. The images below represent a Single-Family & TownHome Listing Analysis of Stark, Trumbull, & Carroll Counties.

According to the Monthly Indicator Report published by MLS Now, October 11, 2023.

"September 2023 National sales of existing homes recently fell to a 7-month low, as surging borrowing costs, rising sales prices, and limited inventory continue to keep many would-be buyers out of the market. Borrowers have become increasingly sensitive to fluctuations in mortgage rates, which have remained above 7% since mid-August. With fewer buyers able to afford the costs of homeownership, existing-home sales declined 0.7% month-overmonth and were down 15.3% year-over-year, according to the National Association of REALTORS®(NAR).

New Listings decreased 14.0 percent for Single Family homes and 13.0 percent for Townhouse/Condo homes. Pending Sales increased 1.1 percent for Single Family homes and 44.0 percent for Townhouse/Condo homes. Inventory decreased 19.2 percent for Single Family homes and 27.4 percent for Townhouse/Condo homes.

Median Sales Price increased 2.2 percent to $178,889 for Single Family homes and 15.8 percent to $194,000 for Townhouse/Condo homes. Days on Market decreased 9.4 percent for Single Family homes but increased 132.1 percent for Townhouse/Condo homes. Months Supply of Inventory remained flat for Single Family homes but decreased 25.0 percent for Townhouse/Condo properties.

Prices have continued to increase this fall despite softening home sales nationwide, as a lack of inventory has kept the market competitive for prospective buyers, sparking bidding wars and causing homes to sell for above asking price in some areas. Heading into September there were only 1.1 million units available for sale, 0.9% fewer than a month ago and 14.1% fewer than the same period last year, according to NAR. As a result, the U.S. median existing-home sales price rose 3.9% year-over-year to $407,100, marking the third consecutive month that the median sales price topped $400,000." CLICK HERE to download the complete Monthly Indicator Report

Quick Facts

Residential activity in Carroll, Stark, and Trumbull counties composed of single family and townhouse/condo properties. Percent changes are calculated using rounded figures. Comparison September 2022 vs. September 2023.