STAR Housing Stats | February 2024

The STAR February 2024 Housing 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, March 11, 2024.

"U.S. existing-home sales grew 3.1% month-over-month to a seasonally adjusted annual rate of 4.00 million, exceeding economists’ expectations and marking the strongest sales pace since August 2023, according to the National Association of REALTORS® (NAR). Falling interest rates late last year, coupled with a recent uptick in inventory, helped existing-home sales to climb following last month’s decline, with monthly gains reported in the Midwest, South, and West regions.

New Listings increased 7.8 percent for Single Family homes and 20.0 percent for Townhouse/Condo homes. Pending Sales increased 1.8 percent for Single Family homes but decreased 12.0 percent for Townhouse/Condo homes. Inventory increased 16.0 percent for Single Family homes and 25.6 percent for Townhouse/Condo homes.

Median Sales Price increased 11.4 percent to $179,900 for Single Family homes and 4.9 percent to $203,500 for Townhouse/Condo homes. Days on Market remained flat for Single Family homes but decreased 34.6 percent for Townhouse/Condo properties. Months Supply of Inventory increased 25.0 percent for Single Family homes and 30.8 percent for Townhouse/Condo homes.

Total inventory heading into February stood at 1.01 million units, a 2% increase from the previous month and a 3.1% increase from the same time last year, for a 3 months’ supply at the current sales pace, according to NAR. Although buyers may find additional options in their home search, inventory remains below the 5-6 months’ supply of a balanced market, and demand is exceeding supply. As a result, existing-home sales prices have continued to rise, climbing 5.1% year-over-year to $379,100." CLICK HERE to download the complete Monthly Indicator Report

Quick Facts

Residential activity in Carroll, Stark, and Trumbull counties combined composed of single family and townhouse/condo properties. Percent changes are calculated using rounded figures. Comparison February 2023 vs. February 2024.