Home sales in Ohio jumped in October, the Ohio Association of Realtors reported.

Sales in October 2005 reached a record-breaking 12,240, a 5.3 percent increase from the 11,626 sales posted during the month last year, the OAR said. The previous best-ever October occurred in 2003, when sales reached 11,730, according to the OAR.

The month’s average sales price of $154,805 is a 0.3 percent increase over the October 2004 average sales price of $154,368, the OAR said.

Statewide sales of new and existing homes (January through October) total 124,358, a 5.3 percent increase from the prior record of 118,096 sales posted during the period in 2004, the association said.

The state’s average sale price (January-October) of 157,017 marks a 3.3 percent increase from the $151,975 average price posted during the period a year ago, the OAR said.

The total dollar volume of more than $19.5 billion is 8.8 percent ahead of the $17.9 billion level posted during the 10-month period in 2004, according to the OAR.

“Ohio’s housing market continues to surpass even our most optimistic expectations,” said OAR President Jim West.

The 35,000-member Ohio Association of Realtors, the largest professional trade organization in the state, calculates its home sale figures based on statistics provided by the Multiple Listing Services throughout Ohio. The report reflects reported closings by MLSs, including new and existing single-family homes and condominiums/co-ops.

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Send tips or a Letter to the Editor to janis@inman.com or call (510) 658-9252, ext. 140.

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