Our Real Estate Blog

Mahoning County Real Estate Market Indicators June 2012

Submitted by Patty Massare on Fri, 2012-08-10 15:45

Real estate markets are local, and do not necessarily reflect national or even state market conditions.  Let's take a closer look at the local real estate market conditions in Mahoning County.

The good news is that the market has been improving . . . slowly but surely . . . over the past year.  It makes the most sense to focus on what has happened for the first six months of the year compared to the first six months of last year, instead of looking at month to month comparisons, as they can fluctuate either way and the short term focus can be misleading.

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Reprint of Fannie Mae Release on Ohio Foreclosures

Submitted by Patty Massare on Wed, 2012-07-11 17:51

This is a re-print of an email Fannie Mae sent to their network of Real Estate Brokerages in Ohio.  We would have provided a link to the information, but have not been able to locate it on the internet.  Although the Youngstown/Warren metro area was not specifically mentioned, we will experience a surge in additional foreclosures here in the months ahead.

RealtyTrac helped us compile a list of the metro areas where a rebound in foreclosure activity could put a damper on home prices… again.
The data is broken down by Metropolitan Statistical Areas, which are localities defined by the U.S. Office of Budget and Management that usually contain a city and its neighboring suburbs.

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Mahoning County Real Estate Market Indicators April 2012

Submitted by Patty Massare on Thu, 2012-05-31 15:20

For the first four months of 2012 pending sales are up 29.2% and closed sales are up 19.2% from the same period last year.  

The average days on the market are about the same, at 152, and the average sales price of $87,123 and median sales price of $65,00 have shown no significant change.  

Housing inventory is down to an 8.9 months' supply, from 12.4 months a year ago, a much healthier level.

These trends are promising.  We all have our fingers crossed that the trend will continue leading to a normalized market and higher home values for Mahoning County homeowners.

To read a full report including charts and graphs dating back to 2004, please click on the '1 Attachment' link in the gray bar under this blog post.