STAR Housing Stats | January 2024

The STAR January 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, February 11, 2024.

"U.S. existing-home sales slipped 1.0% month-over-month and were down 6.2% year-over-year as of last measure, while pending sales jumped 8.3% from the previous month, marking the largest gain since June 2020, according to the National Association of REALTORS® (NAR). Mortgage rates have dropped significantly from their peak last fall, and homebuyers are beginning to come out of the woodwork, with NAR forecasting a 13% increase in existing-home sales this year compared to 2023.

New Listings increased 3.5 percent for Single Family homes but decreased 6.5 percent for Townhouse/Condo homes. Pending Sales decreased 14.7 percent for Single Family homes and 7.1 percent for Townhouse/Condo homes. Inventory increased 18.3 percent for Single Family homes and 14.6 percent for Townhouse/Condo homes.

Median Sales Price increased 4.2 percent to $160,000 for Single Family homes and 4.5 percent to $224,900 for Townhouse/Condo homes. Days on Market increased 9.8 percent for Single Family homes but decreased 36.8 percent for Townhouse/Condo homes. Months Supply of Inventory increased 33.3 percent for Single Family homes and 23.1 percent for Townhouse/Condo homes.

Despite tepid sales activity, the persistent shortage of housing supply has helped prop up home values nationwide, with the median existing-home price rising 4.4% year-over-year to $382,600, according to NAR. Total unsold inventory was at 1 million units heading into January, an 11.5% decline from the previous month, for a 3.2 months’ supply at the current sales pace. Nationally, listing activity has started to pick up, and with mortgage rates stabilizing and housing completions on the rise, inventory is expected to improve in the coming months." 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 January 2023 vs. Janaury 2024.