Parts of Ohio Housing Market Remain Warm
The cold, ice and snow which swooped into the Scioto Valley in February did nothing to freeze this segment of the Ohio housing market, the Chillicothe Gazette reports.
Numbers reported by the Ohio Association of Realtors show not only a strong local showing in February, but a near-record for the state as well.
New and existing home sales rose nearly 38 percent to last year’s totals in February, while increased Ohio mortgage demand pushed the average sale price of those homes up nearly 26 percent - to $108,214.
In total, more than $10.2 million worth of homes were sold in the area in February, an increase of 73 percent year to year.
“We’re very pleased,” said Mary Kay Clipner, chief staff executive for the Scioto Valley Association of Realtors. “It’s a great sign about the local market and the economy.”
- For the year, home sales are up 23 percent and the average home price is nearly 8 percent above the same period last year.
- Clipner and other association members should also be happy the local numbers are beating the state averages.
- The Scioto Valley ranks above the state in all categories and had the best numbers in the state in February.
With the market doing so well, and mortgage interest rates hovering near record lows, Clipner said it’s still a buyer’s market.
“There’s a lot of good properties still out there for new home buyers or someone looking to move,” she said. “People wanting to get out and take look what’s out there are going to very pleased with what they’ll find.”
OAR President Patrick O’Neal said sale activity in the month was strong, but bad weather in the north kept people at home despite continually low home mortgage loan rates.
“To post near-record results in that type of environment is a clear indication that buyers are interested in taking advantage of favorable mortgage rates and an ample supply of houses in all price categories,” he said.
SOURCE: Chillicothe Gazette