Columbiana County Housing Market Report - September 2016

So how has the housing market in Columbiana County performed so far this year?  Let's take a look at January 1 through September 30, 2016 figures compared to the same period last year.  

We continue to deal with the ramifications of low housing inventory.  As a matter of fact, it has been going down, down, down over the past 10 years or so. Homeowners are staying in their homes longer for various economic and family reasons.  This is a major factor leading to the limited choices in housing opportunities for new buyers, and the decrease of 11% in new listings from last year.

Pending sales were up 9.3% from last year, and closed sales were up 6%; from 586 closed sales in 2015 to 621 in 2016.  It took an average of 139 days, or 4-1/2 months, for a home to sell this year, which is up slightly from last year.

The average sale price was also up this year.  As of the end of September, the average sale price in Columbiana County was $110,795, up from $102,643 in 2015.

In spite of the fact that the number of homes available for sale has steadily decreased over the past several years, closed sales have continued to increase. There are good choices of homes to buy in most areas, and good opportunities to purchase land to build a home.  There are buyers looking for good homes at market prices.  Depending on your location, your home could sell very fast, as some areas with the lowest inventories have many buyers just waiting for homes to come to market.

If you are planning to sell your Columbiana County home soon, please contact us.  We know the market and can get you to your goal.

To view the full Monthly Market Indicator report for Mahoning and Columbiana Counties: http://www.crismls.com/shared/fs/0383/company/Columbiana-Mahoning_MMI_2016-09.pdf

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