STAR Housing Stats | October 2023

The STAR October 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, November 11, 2023.

"U.S. sales of existing homes recently fell to a 13-year low, dropping 2.0% month-over-month and 15.4% year-over-year as of last measure, according to the National Association of REALTORS® (NAR), as surging interest rates and elevated sales prices continue to make homeownership unaffordable for many prospective buyers. Purchase activity is down significantly compared to this time last year, but rising interest rates are also keeping many current homeowners from selling, causing inventory to remain at historically low levels nationwide.

New Listings increased 5.2 percent for Single Family homes and 7.7 percent for Townhouse/Condo homes. Pending Sales decreased 1.1 percent for Single Family homes and 11.1 percent for Townhouse/Condo homes. Inventory decreased 6.9 percent for Single Family homes and 24.2 percent for Townhouse/Condo homes. Median Sales Price increased 11.4 percent to $178,125 for Single Family homes and 1.7 percent to $200,000 for Townhouse/Condo homes. Days on Market were dead even with last year for both property types. Months Supply of Inventory increased 6.3 percent for Single Family homes but decreased 25.0 percent for Townhouse/Condo homes.

Total housing inventory going into October was at 1.13 million units, up 2.7% from the previous month but down 8.1% compared to the same time last year, for a 3.4 months’ supply at the current sales pace, according to NAR. The shortage of homes for sale is making it harder for buyers to find a home to purchase while at the same time pushing sales prices higher nationwide, with the median existing-home sales price rising 2.8% annually to $394,300, the third consecutive month of year-over-year price increases." 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 October 2022 vs. October 2023.