Housing Market Statistics

Mahoning County Real Estate Market Indicators July 2012

Submitted by Patty Massare on Mon, 2012-09-10 12:52

Continued good news for the greater Youngstown area real estate market. 

Year-to-date real estate market statistics for Mahoning County show:

  • Pending Sales  +24%
  • Closed Sales  +17.7%
  • Median Sales Price  +5.5%

The only bad news is that inventory is low . . . which means buyers don't have a lot of choices.  Homeowners are still not selling unless they need to . . . for various reasons . . . but mostly because they have less equity in their homes.  However, if you do want to sell your home it's a great time.  Buyers are lining up in certain price ranges and just waiting for the right home to come on the market. 

We are experiencing multiple offers on properties that are priced close to market value.

To find out what your home is worth in today's market, Contact Us.  We will provide you with an expert evaluation of your property and recommendations on preparing and staging your home to get the most value from what you own.

Click on the Attachment link in the gray bar below this post to view the entire Market Indicators report, which is courtesy of Youngstown-Columbiana Association of REALTORS®.

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.

Columbiana County Real Estate Market Indicators April 2012

Submitted by Patty Massare on Thu, 2012-05-31 15:06

The Columbiana County real estate market has shown some significant improvement for the first four months of 2012.

Pending sales are up 21.4% year-to-date compared to the same period in 2011, and closed sales are up 20.4%.  The average sales price of $82,866 is up 7.3% and the median sales price of $67,400, is also up 2.1%.

The current inventory of homes for sale is at a 9.4 months' supply, down from a 12.9 months' supply in April of 2011.

The sharp increase in pending sales is the highest number we have seen since 2007 before the real estate decline really hit us here in Northeast Ohio. This is a welcome change and good news for homeowners in Columbiana County.

To see a complete report with charts and graphs dating back to 2004, click on '1 Attachment' in the gray bar below this blog post.

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