Mahoning County Housing Market Trends

Housing Market Update: Mahoning County

Who would have ever thought the trend of dropping housing supply and increasing sales prices would continue for so long?  We are a few years into this seller's market, and there are no signs of it changing any time soon.

Multiple-offers, and offers over the asking price, are fairly commonplace in the more desirable areas and price ranges.  Good homes are selling very quickly, and the housing market keeps churning along in spite of lackluster new construction activity. Recent numbers indicate that low inventory levels are finally showing up in sales activity. It was bound to slow down at some point as fewer and fewer homes are available to buy.

Let's take a closer look at our local housing statistics in Mahoning County for the first 7 months of 2017 compared to the same period last year.

Mahoning County Residential Real Estate Market Update - March 2016

The local Mahoning County residential real estate market is steady as she goes.  We have seen consistent improvements in sales over the past few years.  Other than the lack of available homes for sale in some areas, the overall outlook looks healthy.

Comparing the first three months of 2016 to the same period last year:

Closed sales were up 10.8%, from 520 sales in 2015 to 576 sales this year.  

Pendings (homes under contract but not yet closed) also increased in the first quarter of this year.  There were a whopping 746 pending sales, up 16.9% from 638 in 2015.  This is one of the highest number of pendings reported for the first quarter in the past 10 years.  This is very encouraging as we move into the Spring selling season!

Mahoning County Real Estate Market Statistics Jan. 2014

January 2014 real estate market numbers for Mahoning County, looking over the past 12 months, show little change from the previous 12-month period.

The most significant factor affecting the local market is low inventories.  The number of homes for buyers to choose from is at 10-year historic lows.

To read the full report with all the graphs, provided courtesy of the Youngstown-Columbiana Association of REALTORS®, click on the attachment link below this post. 

Mahoning County Market Watch Report June 2013

Real estate agents are pretty busy these days as the real estate market in Mahoning County continues to improve.  Some meaningful statistics from the Monthly Market Indicators report, comparing year-to-date June 2013 to June 2012:

  • Pendings + 11.4%
  • Closings + 14.4%
  • Days on Market went down from 150 days in June 2012 to 119 in June 2013, a 20.8% decrease
  • Median Sales Price + 5.1%
  • Average Sales Price + 6.1%, from $94,996 in June 2012 to $100,794 in June 2013.  It's been a while since our average sale price exceeded the $100K mark
  • Inventories remain low, with only a 7 month supply of homes currently on the market

To read the full report, click on the attachment link below this post.  

Report provided by the Youngstown Columbiana Association of REALTORS®.

Mahoning County Market Indicators March 2013

What does the real estate market look like in Mahoning County for the first quarter of 2013 compared to the first quarter of 2012?

  • Pending Sales are UP 10%
  • Closed Sales are UP 17%
  • Median Sales Prices UP 17%
  • Average Sales Prices UP 14%

It is taking less time, on average, to get homes sold . . . down to 120 days from 147 days.