Ohio Assoc. of Realtors news
The number of homes sold across Ohio jumped more than 10 percent in February, as the market posted gains in activity for the 20th consecutive month, according to the Ohio Association of Realtors.
“With each passing month we continue to make progress in building a solid foundation for a sustainable and growing housing market in Ohio moving forward,” said OAR President Thomas J. Williams. “Attaining 20 straight months of gains in activity – our longest stretch of uninterrupted sales growth since we began collecting data in 1998 – is tremendous testament to the desire among our fellow Ohioans to make the American Dream of homeownership a reality.
“Buyers are taking advantage of the ideal conditions prevalent in today’s marketplace, with historic low interest rates and attractive pricing,” Williams added. “Additionally, there’s a renewed sense – despite the economic ebbs and flows – that housing remains a wise long-term investment.”
Sales through the first two months of 2013 reached 14,624, a 14.3 percent increase from the 12,794 sales posted during the same period a year ago. The average sales price (January through February) this year is $122,748, a 6.1 percent increase from the $115,694 mark set during the period a year ago.
Total dollar volume this year is nearly $1.8 billion, a 21.3 percent increase from the two-month mark of a year ago of nearly $1.5 billion.
“The ongoing recovery of the Ohio housing market is widespread…with 17 of the 20 markets we track showing gains in activity so far in 2013 and our prices rising in 15 of our reporting areas,” Williams added. “Having so many of our individual markets record positives in a state as diverse as Ohio – with its unique blend of big urban markets and smaller, rural locales – is an indication that the Buckeye State is making significant headway in its recovery effort.”
Williams noted that a recent survey of the state’s real estate professionals suggests that the industry remains upbeat about the market’s outlook in the coming months. The OAR Housing Market Confidence Index, a survey that tracks the perception Ohio realtors have of the marketplace, offers the following highlights in the March 2013 report:
93 percent of realtors describe the current housing market in their area as moderate to strong; a significant increase from the 77 percent mark the profession posted during the month a year ago. This month’s Realtor Current Market Index measurement reached a record-high 62, an 18-point improvement from the March 2012 score of 44.
94 percent of the respondents have moderate to strong expectations for their market in the next six months; increasing 9 percentage points from the March 2012 level of 85 percent. This month’s REALTOR Future Market Index reached record-high 67, a 14-point increase from the March 2012 index of 53.
97 percent of realtors believe home prices over the next year will remain stable and could even post gains; 15 percentage points more than the findings in March 2012 (of 82 percent). The Realtor Price Index for realtors’ expectations for the next year reached a record-high 74, a 20-point improvement from the mark recorded during the month a year ago (54).
“Realtors are a reflection of how people buying and selling homes feel about the market’s current and long-term prospects,” Williams said. “When we launched our Confidence Index in mid-2011 – when the overall market was still in the midst of the economic struggles resulting from the onset of the recession a few years prior – the industry was far from optimistic about market conditions.
“We’ve seen a steady, cautious uptick in our overall outlook – rising from our initial Index scores in the 20’s and 30’s to the record-high levels we’re now achieving,” he added. “Realtors are hopeful, but also seem to have a firm understanding that there will be challenges in the months ahead.”
Sales in February reached 7,363, a 10.2 percent increase from the 6,681 sales posted during the month in 2012. The average sales price of $125,061 was a 7.9 percent increase from the $115,932 average price posted in February 2012.
Data provided to OAR by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops. The Ohio Association of Realtors, with more than 26,000 members, is the largest professional trade association in Ohio.
To view a market-by-market analysis of sales activity throughout Ohio and local contact information, click on the following link: http://www.ohiorealtors.org/wp-content/uploads/Stats/13HS/Feb13Vocus.pdf.
POSTED: 03/22/13 at 5:38 am. FILED UNDER: Real Estate
Ohio Association of Realtors news
Activity in the Ohio housing market has had a robust start to the year, with the number of homes sold reaching the third-highest total ever in January and the statewide average sales price continuing to tick upward, according to the Ohio Association of Realtors.
Home sales in January reached 7,254, an 18.7 percent increase from the 6,113 sales posted during the same period a year ago. Since OAR began tracking statistics provided by the state’s Multiple Listing Service in 1998, only the month’s totals in 2007 (7,853 sales) and 2006 (7,441 sales) bested the January 2013 activity level.
“The Ohio housing market is continuing to make significant progress in its attempt to recover from the economic downturn of a few years ago,” said Thomas J. Williams, president of the Ohio Association of Realtors. “It’s apparent that people want to take advantage of the ideal conditions that exist in today’s marketplace, with historic low interest rates and favorable pricing.”
The month’s average sales price reached $120,437, a 4.3 percent increase from the $115,434 result of January 2012. Total dollar volume in January nearly reached $874 million, a 23.8 percent increase from the $706 million mark a year ago.
The Buckeye State’s January sales total marks the 19th consecutive monthly sales gain for the marketplace, dating back to July 2011.
“The fact that we’ve now attained an unprecedented 19 straight months of gains in activity levels in Ohio is a positive indication that we’re making progress in establishing a foundation for a sustainable housing market moving forward,” Williams said. “Realtors understand that there will be economic challenges in the months and year ahead, that the housing market will experience ebbs and flows…but that long-term people understand that home ownership is a wise investment.”
Williams noted that a recent survey of the state’s real estate professionals suggests that the industry remains cautiously optimistic about the market’s outlook in the coming months. The OAR Housing Market Confidence Index, a survey that tracks the perception Ohio realtors have of the marketplace, offers the following highlights in the February 2013 report:
87 percent of realtors describe the current housing market in their area as moderate to strong; a significant increase from the 66 percent mark the profession posted during the month a year ago. This month’s Realtor Current Market Index measurement reached 53, an 18 point improvement from the February 2012 score of 35.
92 percent of the respondents have moderate to strong expectations for their market in the next six months; increasing 12 percentage points from the February 2012 level of 80 percent. This month’s Realtor Future Market Index reached record-high 64, a 19 point increase from the February 2012 index of 45.
96 percent of realtors believe home prices over the next year will remain stable and could even post gains; 19 percentage points more than the findings in February 2012 (of 77 percent). The REALTOR Price Index for realtors’ expectations for the next year tied a record-high 70, a 20 point improvement from the mark recorded during the month a year ago (50).
“It’s becoming increasingly evident that Ohio’s real estate professionals are confident that the desire to make the American Dream of homeownership remains strong throughout Ohio,” Williams said. “Assessing the sentiment of realtors provides important insight into understanding the state of the current market as well as the outlook in the coming months, as the profession is often sitting at the kitchen table with buyers and sellers as they express their desires, hopes and fears when making the largest financial decision they’ll make in a lifetime.”
Data provided to OAR by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops. The Ohio Association of Realtors, with more than 26,000 members, is the largest professional trade association in Ohio.
To view a market-by-market analysis of sales activity throughout Ohio and local contact information, click the following link: http://www.ohiorealtors.org/wp-content/uploads/Stats/13HS/Jan13Vocus.pdf.
POSTED: 02/27/13 at 7:12 am. FILED UNDER: Real Estate
Ohio Association of Realtors news
The Ohio housing market was filled with a number of positives in 2012, as sales activity rose 12.7 percent over the level of the prior year and the average sales price jumped 5.5 percent statewide, according to the Ohio Association of Realtors.
“The Ohio housing market made significant progress in its attempt to fully recover from the economic challenges of the past few years,” said Thomas J. Williams, president of the Ohio Association of Realtors. “Our year-end 2012 results are reflective of a marketplace that appears to have regained its footing and returned to traditionally stable levels.”
Year-end 2012 sales of new and existing homes (January through December) totaled 114,457, a 12.7 percent increase from the 101,561 sales posted in 2011, according to the statistics provided by the state’s Multiple Listing Services.
The state’s average sale price (January-December) of $134,951 marks a 5.5 percent increase from the $127,463 average posted in 2011. Total dollar volume reached $15.4 billion, a 19.3 percent increase from the $12.9 billion posted a year earlier.
“The recovery of the Ohio housing market in 2012 was widespread in scope, as 17 of the 20 markets we track reported gains in sales activity and 18 posted increases in average sales price,” Williams noted. “To have so many individual markets post positives in a state as diverse as Ohio – with its mix of big urban markets and smaller, rural locales – is an indication that the Buckeye State has made significant strides in its recovery effort.”
Williams noted that a recent survey of the state’s real estate professionals suggests the industry remains cautiously optimistic about the market’s outlook in the coming months. The OAR Housing Market Confidence Index, a survey that tracks the perception Ohio Realtors have of the marketplace, offers the following highlights in the January 2013 report:
- 88 percent of realtors describe the current housing market in their area as moderate to strong; a significant increase from the 60 percent mark the profession posted during the month a year ago. This month’s Realtor Current Market Index measurement reached 54, a 22-point improvement from the January 2012 score of 32.
- 93 percent of the respondents have moderate to strong expectations for their market in the next six months; increasing 18 percentage points from the January 2012 level of 75 percent. This month’s Realtor Future Market Index reached record-high 63, a 21-point increase from the January 2012 index of 42.
- 98 percent of realtors believe home prices over the next year will remain stable and could even post gains; 26 percentage points more than the findings in January 2012 (of 72 percent). The Realtor Price Index for Realtors®’ expectations for the next year reached a record-high 70, a 21 point improvement from the mark recorded during the month a year ago (49).
“Ohio’s realtors remain remarkably upbeat about the state of the current marketplace and are equally hopeful about its long-term prospects,” Williams said. “Gauging the sentiment of realtors is important, as the profession is often sitting across the kitchen table with buyers and sellers as they express their desires, hopes and fears when making the largest financial decision they’ll make in a lifetime.”
Sales in the fourth quarter 2012 increased 17.9 percent, reaching 27,802 sales compared to the 23,582 sales posted during the period a year ago. It marks the best results for the fourth quarter since 2006.
“Not only have we been able to string six consecutive quarters of sales growth in Ohio, we’ve also attained an unprecedented 18 straight months of gains in activity levels — a clear indication that we’ve begun to establish a solid foundation for a growing, sustainable housing market moving forward,” Williams said. “There will undoubtedly be economic challenges in the months and year ahead, but there appears to be an overwhelming sentiment that home ownership is a smart, long-term investment and that the desire to achieve the American Dream remains strong.”
Sales in December 2012 reached 8,390, a 6.6 percent increase from the 7,867 sales posted during the month in 2011. The average sales price of $132,698 was a 7.7 percent increase from the $122,447 average price posted in December 2011.
Data provided to OAR by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops. The Ohio Association of Realtors®, with more than 26,000 members, is the largest professional trade association in Ohio.
To view a market-by-market analysis of sales activity throughout Ohio and local contact information, click the following link: http://www.ohiorealtors.org/wp-content/uploads/Stats/dec2012statsonly.pdf.
POSTED: 01/28/13 at 7:20 am. FILED UNDER: Real Estate
By CHRIS HENKALINE
Century 21 Sharron Realty Associates Inc.
Before deciding which house to buy, think about your lifestyle, your current and anticipated housing needs, and your budget. It’s a good idea to create a prioritized list of features you want in your next home – you’ll soon discover finding the right house involves striking a balance between your “must-haves” and your “nice-to-haves.”
To start, consider your lifestyle. If you love to cook, you’ll want a well-equipped kitchen. If you’re into gardening, you’ll want a decent-sized yard. If you’re planning your office at home, you may want a room for a separate library or work space. If you have several cars, you may require a larger garage. Use this list as your search guide.
Next, think about what you might need in the future. As you consider your housing needs, it’s important to consider how long you may live in your home. If you’re newly married, you might not be concerned with a school district right now, but you could be in a few years. If you have aging parents, you may want to look at homes that offer living arrangements for them as well as you. It’s important to think about your new home’s location just as carefully as you do about a house’s features. Location is a huge part of any move. In addition to considering the distance to work, you need to evaluate the availability of shopping, police and fire protection, medical facilities, school and day-care, traffic and parking.
Perhaps the most important decision is deciding on the type of home you want. Do you want a condominium, townhouse or a detached single-family home? Do you want brick, stone, stucco, wood, vinyl siding, or something else? Do you prefer a new home or an older one with more maintenance?
Through all of this, make sure to talk to your real estate professional about where you want to live. While more buyers now use the Internet to gain access to listings, or available properties for sale, it is still a good idea to use an agent. The agent brings value to the entire process: he or she is available to analyze data, answer questions, share their professional expertise, and handle all the paperwork and legwork that is involved in the real estate transaction.
By thinking through your needs and setting a wise plan in place, you can find that perfect house that will become a home full of many happy memories.
POSTED: 01/20/11 at 2:40 pm. FILED UNDER: Real Estate
