STAR Housing Stats | August 2024

The STAR August 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 August Monthly Indicator Report published by MLS Now, September 11, 2024.

"August 2024 U.S. existing-home sales increased for the first time in 5 months, as lower mortgage rates and rising supply helped boost market activity. According to the National Association of REALTORS® (NAR), sales of previously owned homes rose 1.3% month-over-month to a seasonally adjusted annual rate of 3.95 million units, exceeding economists’ expectations and ending the downward trend of recent months.

New Listings increased 8.6 percent for Single Family homes and 31.8 percent for Townhouse/Condo homes. Pending Sales decreased 5.7 percent for Single Family homes and 15.2 percent for Townhouse/Condo homes. Inventory increased 18.0 percent for Single Family homes and 48.9 percent for Townhouse/Condo homes.

Median Sales Price increased 15.0 percent to $207,000 for Single Family homes and 8.4 percent to $225,000 for Townhouse/Condo homes. Days on Market increased 33.3 percent for Single Family homes but decreased 22.7 percent for Townhouse/Condo homes. Months Supply of Inventory increased 17.6 percent for Single Family homes and 46.7 percent for Townhouse/Condo homes.

Nationally, total housing inventory edged up 0.8% from the previous month to 1.33 million units heading into August, for a 4.0-month supply at the current sales pace, NAR data shows. Although inventory is up nearly 20% compared to the same time last year, demand continues to outpace supply, putting upward pressure on sales prices. According to NAR, the nationwide median existing-home price rose 4.2% year-over-year to $422,600 at last measure, marking the 13th 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 August 2023 vs. August 2024.