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.