YOUNGSTOWN, Ohio (WKBN) – Americans purchased homes at the fastest pace in nearly 11 years during November.
The number of homes for sale in the tri-county area has been fewer in most locales, and homes have been selling in fewer days for higher prices. It’s a trend of the year.
It’s also been a busy holiday season again for area realtors. They never saw a slowdown as kids finished or started school, and now they’re getting calls about what’s on the market. Demand is high and inventory remains low, which makes the good homes so desirable
“People are going to the internet every day looking for that brand new home that they haven’t been able to find yet. And as soon as it pops up, they are making offers,” said Steve Ferrebee, with Northwood Realty.
The sweet spot in the Mahoning Valley is always going to be the Boardman, Canfield, Poland, Howland area — homes between $200,000 and $400,000.
“You don’t even have to put those on the market. You can just call your network of agents and say hey, we have this listing coming up. They’ll all get in there and probably bring a contract before it can hit the market,” said Chad Cromer, with Nexthome Go 30 Realty.
Buyers are waiting in line for quality homes. You’ve probably noticed the home improvement stores are busy. Many people have talked to somebody who told them how to make their home appear better for sale or a buyer who realized they couldn’t find a move-in ready home.
“No wallpaper. I don’t want to paint. I don’t want to carpet. You start thinking to yourself, well I guess I can do those things if it hits the bill on everything else,” Cromer said.
So, some sellers don’t have to do as much with the market tipped in their favor. Right now, everything is working in real estate.
“When people have good jobs and they have money to spend, sometime they will want to sell their house and move up,” Ferrebee said.
The best number for would-be sellers is that the average number of days on the market until being sold is down over 10 percent this year in all three local counties.