Howard Hanna Real Estate Services continued to grow the real estate market with record sales numbers in 2012.
As one of the four largest real estate companies in the United States, with 144 offices across Pennsylvania, Ohio, Michigan, New York and West Virginia , Howard Hanna closed a record 41,348 sales transactions last year; 7,062 more than in 2011.
Closed sales volume hit $7 billion for the first time in the company’s 56-year history at $7,085,343,298, a 21 percent increase over the prior year.
“2012 was just a remarkable year at Howard Hanna. We had a huge, huge increase over last year thanks to the tremendous efforts of so many people in the company,” said CEO Howard W. Hanna, III. “We outperformed a rising tide market in all segments of our company. The pent-up demand of the ‘move-up buyer’ fueled a large part of our business and will continue to be strong this year as homebuyer confidence continues to rise. The resurgence of bidding battles and full-price offers created a sense of urgency in many price categories.”
Last year in Howard Hanna’s metropolitan marketplaces:
In Ohio: $3.6 billion in closed sales volume and 20,983 closed sales transaction. Howard Hanna outperformed the market with a 22 percent increase in volume and a 19 percent increase in units as year-end figures from the multiple listing services NORMLS, CRIS, WAYNE and FLND, reported closed sales volume up 21 percent and units 13 percent. The average price of a home sold was up 7 percent.
In Pittsburgh and Southwestern Pennsylvania: $2.3 billion in closed sales volume and 11,587 closed sales transactions. Howard Hanna outperformed the market with a 23 percent increase in volume and an 18 percent increase in units as year-end figures from the West Penn Multi-List reported closed sales volume up 17 percent and units up11 percent. The average price of a home sold was up 6 percent.
In Michigan: $402 million in closed sales volume, up 12 percent and 3,010 closed sales transactions, up 6 percent from 2011.
In Erie, Pennsylvania: A 29 percent increase in closed sales volume and a 28 percent increase in closed sales transactions. Howard Hanna outperformed the market as year-end figures from the Greater Erie Board of Realtors (GEBOR) reported 2012 closed sales volume up 16 percent and units 12 percent. The average price of a home sold in 2012 increased by 3.3 percent.
In Harrisburg and Central Pennsylvania: A 32 percent increase in closed sales volume and a 25 percent increase in closed sales transactions. Howard Hanna outperformed the market as year-end figures from the Central Penn Multi-List (CPML) reported 2012 closed sales volume up 17 percent and units 15 percent. Additionally, the average price of a home sold by Howard Hanna increased 8 percent compared to 2 percent reported by CPML.
In 2012, Howard Hanna expanded into two new markets. The company opened four offices in Columbus, the capital city of Ohio. This increased the company’s footprint into the middle of the state as Howard Hanna serves Northern Ohio in 54 real estate sales offices.
Also last year, Howard Hanna entered its fifth state, Michigan, with the addition of Ann Arbor based Edward Surovell REALTORS® to the Howard Hanna family of real estate. Howard Hanna now has 10 office locations in Michigan with approximately 200 sales associates and staff.
For more information, visit www.howardhanna.com.