STAR Housing Stats | May 2024

The STAR May 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 May to the Monthly Indicator Report published by MLS Now, June 11, 2024.

"U.S. existing-home sales fell for the second month in a row, sliding 1.9%month-over-month and 1.9% year-over-year, according to the National Association of REALTORS® (NAR), with sales down in all four regions of the country. Higher borrowing costs and accelerating home prices continue to weigh on demand, pushing some prospective buyers to the sidelines and causing market activity to slump ahead of summer.

New Listings increased 11.0 percent for Single Family homes and 104.2 percent for Townhouse/Condo homes. Pending Sales decreased 18.4 percent for Single Family homes but increased 44.0 percent for Townhouse/Condo homes. Inventory increased 30.6 percent for Single Family homes and 44.4 percent for Townhouse/Condo homes.

Median Sales Price increased 4.3 percent to $193,000 for Single Family homes but decreased 9.5 percent to $210,000 for Townhouse/Condo homes. Days on Market increased 6.5 percent for Single Family homes and 10.4 percent for Townhouse/Condo homes. Months Supply of Inventory increased 33.3 percent for Single Family homes and 41.7 percent for Townhouse/Condo homes.

Home prices have continued to climb nationwide, despite an uptick in inventory this year. Nationally, the median existing-home price reached $407,600 as of last measure, a 5.7% increase from the same period last year and a record high for the month, according to NAR. Meanwhile, total inventory heading into May stood at 1.21 million units, a 9% increase month-over-month and a 16.3% increase year-over-year, for a 3.5 month’s supply at the current sales pace." 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 May 2023 vs. May 2024.