Good news for sellers as housing market in the Valley sees growth

Local News

All three counties experienced growth in key areas

(WKBN) – Are you looking to buy or sell your home? With two weeks left in 2019, the state of the Valley’s housing market is looking good for sellers.

“There are more buyers than there are sellers at this moment,” said Gerri Florio, president of the Youngstown Columbiana Association of Realtors.

Florio has been in the real estate business for 45 years.

Although all three counties experienced growth in key areas, the statistics she shared show Mahoning and Columbiana counties outpaced Trumbull County.

“Possibly, that might be due to a little bit to Lordstown,” Florio said. “A lot of people remained. We thought we would have more on the market because of the effect of the closing of Lordstown but we did not.”

Trumbull County saw a drop in the last quarter of 2018 in new listings. Still, the average sale price was up nearly 7% and time on the market dropped to 89 days on average.

There’s even better news in Mahoning County. Since October, listings increased, days on the market decreased and the average sale price went up 7.5%, netting almost $134,000 per home.

“Columbiana has really outdone itself this year,” Florio said. “The nicest place to live in the United States and I think that has helped Columbiana a lot.”

What it’s created is a housing shortage in Columbiana.

“Columbiana County, let alone the City of Columbiana, has been quite staggering, to put it lightly,” said Rollin Gosney, owner of Agent Valley ReMax. “We are lacking inventory currently. In fact, there are only 14 homes available in the City of Columbiana.”

Gosney said 19 homes have sold in Columbiana County in the past 90 days. He said they need more homes to sell.

“Our primary market is between $100,000 and $250,000. Unfortunately, in Columbiana, there are only four homes within that price range.”

Since October, new listings are up nearly 4%. The average sale prices are up 9% and days on the market dropped nearly 11%.

“Even more staggering, there is only one house available between $250,000 all the way up to $900,000 so if you can wrap your head around that, we need your listings,” Gosney said.

Both agents said the same thing — it pays off to choose the right realtor to help you through this experience, whether you are buying or selling. Choose an agent you feel comfortable working with because with current trends in Valley real estate, you won’t be working with them for long.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending on WKBN.com