STAR Housing Stats | March 2024

The STAR March 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, April 11, 2024.

"U.S. existing-home sales improved for the second month in a row, jumping 9.5% to a seasonally adjusted annual rate of 4.38 million units, exceeding economists’ expectations and marking the largest monthly gain in a year, according to the National Association of REALTORS®(NAR). The rebound in home sales comes amid fluctuating mortgage rates and elevated sales prices, indicating there is plenty of buyer demand heading into the spring selling season.

New Listings decreased 13.0 percent for Single Family homes and 4.8 percent for Townhouse/Condo homes. Pending Sales decreased 18.9 percent for Single Family homes but remained flat for Townhouse/Condo homes. Inventory increased 9.7 percent for Single Family homes and 10.6 percent for Townhouse/Condo homes.

Median Sales Price remained flat at $169,000 for Single Family homes but increased 26.6 percent to $205,700 for Townhouse/Condo properties. Days on Market increased 2.4 percent for Single Family homes but decreased 44.4 percent for Townhouse/Condo homes. Months Supply of Inventory increased 27.3 percent for Single Family homes and 20.0 percent for Townhouse/Condo homes.

The recent surge in home sales was likely due to a dip in mortgage rates in December and an increase in housing supply nationwide. According to NAR, total inventory grew 5.9% month-over-month and 10.3% year-overyear to 1.07 million units, for a 2.9 months’ supply at the current sales pace. Buyer demand remains robust, and the limited supply of inventory helped push the median existing-home sales price up 5.7% year-over-year to $384,500, the eighth consecutive month of annual price increases." 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 March 2023 vs. March 2024.