Buyers flooding Youngstown housing market

YOUNGSTOWN, Ohio (WKBN) — As agents do a walk-through of a newly-listed home for sale in Boardman, they say the local market has changed from what many saw as a “buyer’s market” just a couple years ago.

“And I think those days are gone,” Nancy Cuffle of Howard Hanna Real Estate said. “They’re getting multiple offers. They’re getting close to asking (price).”

Just-released figures from from the Ohio Association of Realtors shows sales for the 17-county northeast region — which includes the Valley — are essentially flat from March of last year, down less than 200 homes.

The local agents say they saw an increase last month — which they attribute to an end to our long harsh winter…

“There’s a great demand of pent-up buyers that are looking for houses, primarily in the suburban markets,” Alicia Kosec of Howard Hanna Real Estate said. “When those houses come on, they don’t last.”

Agents tell me the Valley’s overall economic recovery because of the growing shale gas industry — as well as increases in manufacturing jobs — has helped local sales. Others credit a decline in new home construction for pushing buyers to existing homes.

“We are in need of listings,” Cindy Best of Howard Hanna Real Estate said. “If you’re thinking about it, now is the time.”

In the meantime, homes that could have sat waiting for months to be sold are attracting multiple bidders..

“A lot of times, an agent goes to show a property, it’s just gone under contract, and they are writing back up offers in case offer number one falls through,” Kosec said.

WKBN 27 First News provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. No links will be permitted. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s