STAR Housing Stats | December 2023

The STAR December 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, December 21, 2023.

"December 2023 U.S. existing-home sales rose from a 13-year low, climbing 0.8% from the previous month and breaking a five-month streak in which sales declined, according to the National Association of REALTORS® (NAR). Despite the increase, sales were down 7.3% compared to the same period last year, as affordability challenges continue to hinder prospective buyers. Most of this period’s closed sales went under contract in October, when mortgage rates were at a two-decade high. With rates having dropped more than a full percentage point since then, existing-home sales may continue to pick up in the months ahead.

New Listings increased 8.5 percent for Single Family homes and 53.8 percent for Townhouse/Condo homes. Pending Sales decreased 6.9 percent for Single Family homes and 40.0 percent for Townhouse/Condo homes. Inventory increased 9.8 percent for Single Family homes and 11.4 percent for Townhouse/Condo homes.

Median Sales Price increased 3.9 percent to $161,000 for Single Family homes but decreased 3.6 percent to $200,000 for Townhouse/Condo homes. Days on Market increased 5.4 percent for Single Family homes but decreased 12.5 percent for Townhouse/Condo homes. Months Supply of Inventory increased 21.4 percent for Single Family homes and 21.4 percent for Townhouse/Condo homes.

Low levels of inventory continue to impact U.S. home sales, offering few options for aspiring buyers to choose from. Going into December there were 1.13 million units for sale, down 1.7% from the previous month but up 0.9% from the same period last year, for a 3.5 months’ supply at the current sales pace. As a result, sales prices remain high nationwide, with NAR reporting the median existing-home price rose 4% annually to $387,600 as of last measure, the fifth consecutive month of year-over-year price gains. Homebuyer demand is picking up, and without a significant increase in supply, experts believe home prices will likely remain elevated for some time to come." 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 December 2022 vs. December 2023.