2013 Sales in Lima Ohio Real Estate Up Over 2012

Posted by Tim Parker on Wednesday, January 22nd, 2014 at 5:00pm.    668 Views

2013 Finished With Big Numbers in Lima

I have finished my annual review of the sales numbers for real estate transactions that closed in 2013 in the Lima, Ohio area.  According to an analysis of information supplied by the West Central Association of Realtors, the number of closed transactions is up by 15% over 2012.  The average sales price also saw an increase of over 2.3% in the same period.  The increase in sales volume and sales price should have been enough, but no, the days on market average also dropped by almost 2 whole weeks!  What a year, Lima.

Another interesting item that I found in my review of the numbers was that the highest priced residential property sold in 2013 was over $100,000 more than the highest in 2012.  The cheapest property sold through the year was also 3 times the amount of the cheapest in 2012.  Pretty cool that the rising tide of price increases brought up the price of both mansions and shacks.

Not Every Neighborhood Saw Improvements in Lima Real Estate

While the overall number of homes sold, and the average price both increased from year-to-year, every real estate situation was not rosy.  Certain neighborhoods saw a rise in listings taken and an even greater rise in expirations without sales.  This is indicative that not all levels of buyers are participating in the market yet.  A hot market is a good thing, but you should be talking to a professional real estate agent before you get involved.  

As the National Association of Realtors is constantly pointing out, "All real estate is local."

If you have any questions about your particular situation, please don't hesitate to contact me.

Tim Parker
Call me  (614) 551-7341
or email me  

2 Responses to "2013 Sales in Lima Ohio Real Estate Up Over 2012"

Jackson Brewer wrote: All I got out of this was that the rich are paying more for what they can afford anyways and the rest of us are stuck with houses that cant sell.

Posted on Wednesday, January 29th, 2014 at 7:49pm.

Tim Parker wrote: Jackson,
I really do not want to be presumptive, but it seems as though you are trying to sell a home in the Lima area. There are different factors that affect buyers' decisions in every neighborhood. As we have heard a million times, all real estate is local. This is so true and the only way that I could professionally address your concerns would be to have more information about your particular circumstance.
Please take a minute to call, text, or e-mail me so that we can talk.
Tim

Posted on Thursday, January 30th, 2014 at 11:17am.

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