bec's blog of zanesville ohio real estate

Sales of homes in our area continue to be sluggish....

According to Ohio Realtor Magazine July 2009, Ohio homes sales continue to be lower than last years totals at this time.  However there appears to be some signs of an upward turnaround beginning, according to the Ohio Association of Realtors.

"Ohio's housing marketplace has undoubtedly mirrored the sluggishness of the nation's economic downturn, with fewer buyers and lower prices prevalent throughout the Buckeye state during the first five months of the year.,"said OAR President Jonathan M. Hall. "Despite the challenges that exist, our membership is hopeful that a number of positives that have begun to emerge are indicators of the turnaround in the near term."

Statewide the number of units sold for 2009 is 35,865 compared to 44,185 down 18.8% from one year ago. For Zanesville these numbers are 343 for Jan-May 2009 compared to 394 last year at this time, down 12.9%.  The statewide average sales price for the year (January through May) 2009 is $117,694 compared to last year same time $135,307, down 13.0%.  Zanesville area average sales prices are also down by 20.3% to $86,807 compared to last year at $108,882.  Only two other counties Marion and Toledo have reported similar drops in average sales prices.

On the positive, the percentage of homes sold month to month (April to May) of this year increased by 14.6%, surpassing the 11.7% increase that market posted a year ago for the same time period.

"Our members are experiencing more phone calls from interested buyers and seeing increased foot traffic at listings in recent months," Hall noted. "With favorable pricing, attractive interest rates and sellers more realistic in their expectations, the market is poised for a rebound due to the ideal conditions that exist." 

"Similarly, Prudential McCollister has also noticed an increase in phone and internet inquiries as well as listings being shown to prospective buyers." States Becky Wolfe, Agent. " My sales for this period from last year are down, however, not substantially. By August 15th if my current contracts close then I should be back on track from previous year."