Summit County home sales increased in March, after year-over-year declines in the first two months of the year.
Summit County home sales last month totaled 457, up 4.3 percent from 438 in March 2012, according to the Akron Association of Realtors.
That compares with February this year, when sales declined 23.4 percent from a year before, and January, when sales dropped 12.3 percent from a year before.
The median sale price in Summit in March was $117,250. That’s up 6.7 percent from $109,900 in March of last year.
Nationwide, sales of previously occupied homes in March were 10.3 percent higher than a year earlier, according to the National Association of Realtors.
Sales of homes on a seasonally adjusted annual rate dipped to 4.92 million, from 4.95 million in February. February’s figure was revised lower.
Sales have remained mostly unchanged in the past four months — largely, analysts say, because of a limited supply of homes.
The continued decline in the local inventory of homes for sale mirrored the national trend. Area Realtors have said the low inventory dampened sales earlier this year.
The number of homes on the market in Summit County in March dropped 21 percent, to 2,960, down from the 3,747 for sale in March a year ago.
In a 15-county Northeast Ohio area, including Summit, Stark, Portage, Medina and Cuyahoga counties, sales of single-family homes increased 15.8 percent to 2,724, compared with the 2,352 sold in March 2012, according to the Northern Ohio Regional Multiple Listing Service.
Sales this past March rose 48.9 percent from February across the 15 counties.
Statewide, home sales in March reached 7,254. That’s an 18.7 percent increase from the 6,113 sales posted during January a year ago, according to the Ohio Association of Realtors.
The number of homes sold statewide increased 12 percent in March as the market posted gains in activity for the 21st consecutive month, according to the Ohio Association of Realtors.
The average sales price statewide reached $130,668. That was a 5.2 percent increase from the $124,259 average price posted in March 2012.
The Ohio association does not provide a median price.
The Associated Press contributed to this report.