Fair Market Sales of Single Family Residential Lima Ohio Homes Rise
According to data drawn from the West Central Association of Realtors, the number of fair market sales of single family homes that closed during the first 10 months of 2013 outpaced similar sales from the previous year by 9.4%. January through October 2012 had 786 closed sales with an average price of just under $113,000 and the same 10 month period in 2013 had 415 closed sales with an average price of just over $121,000. Rising sales paces coupled with rising sales prices are good indicators that the housing market in West Central Ohio is strengthening.
Distressed Lima Ohio Real Estate Sales Pace Increased in 2013
Distressed real estate sales, those listed as Real Estate Owned by a Corporation/Bank (REO) and listings in which the home's market value was actually less than the balance owed to creditors by the Seller (Short Sales), closed at an even faster pace in the first 10 months of 2013 than they did in 2012. The number of sales of this type of property increased by over 25% while the average price in these deals dropped by almost $1,000 to a market average price of $40,885. These year-to-year market differences are indicative of an increase in overall market activity while also showing a bolder stance by buyers in the distressed property market.
Most of the numbers found in studying the West Central Association of Realtors statistics show that the rush is on to buy homes in the Lima Ohio area. Whether looking for a better deal on the ever increasing prices of the fair market or trying your hand at the deal-of-a-lifetime in the distressed market, Tim Parker is the Realtor of choice for Buyers. I am an awesome negotiator and would love to share with you how to save thousands of dollars on your next home purchase.