Do you live in Richland County or the surrounding areas? If you have considered selling and are wondering how the real estate market is doing locally – you will want to keep reading.
Right now we are in what is called a sellers market – this is because there are more buyers than homes available for sale. Many homes that are listed with Realtors are selling very quickly, with multiple offers. A qualified buyer is someone who is pre-approved and is actively house hunting. I have many qualified buyers for Mansfield, Lexington, Ontario, and the surrounding areas.
According to the most recent data from the Ohio Association of Realtors, our area saw an increase in sales price of 4.6% from this time last year. Even more exciting, our Mansfield Board of Realtors reported over $13 Million dollars of real estate was sold in February 2017 – that’s up from over $11 Million in February 2016. That’s an increase of a whopping 19.2%**! Great news for anyone thinking of buying or selling.
The Early Bird Gets the Worm
I’m sure you have heard this metaphor. This is definitely true for real estate as well. Many homeowners (possibly even your neighbors!) are planning to wait to sell until late Spring or early Summer. Why wait? With less competition of other homes for sale – listing earlier might get you a quicker sale for a better price. As of the end of February, 251 homes had sold in our area**. That’s a lot of people who are happy they didn’t wait to sell!
Where is the inventory really low?
While inventory is low everywhere, we are seeing strong buyer demand for:
1) Updated, move in ready homes priced between $80,000-$125,000 in Lexington, Ontario and Mansfield
2) Updated, move in ready homes priced between $150,000-$250,000 in Lexington, Ontario, Madison and Clear Fork
3) Homes with acreage (1-10 acres)
4) Condos / one level living
What should I do?
If you are thinking of selling this year – contact me- Stephanie Webb with Re/Max First Realty. I can answer questions you have and give you specific information of what homes are selling for in your area. Don’t worry – there is no obligation when you call and I promise I’m not sales-y. I’m a Realtor with Re/Max First Realty. One of the areas top producers, I sold over $5 million dollars of real estate in 2016. I am active in my children’s school, my church and my community. I would love to help you with your real estate needs.
**Data pulled from the Ohio Association of Realtors Ohio Local MLS stats report February 2017