Lima Ohio Homes: Sales and Prices Up over Same Period Last Year

Posted by Tim Parker on Monday, November 4th, 2013 at 10:14pm.    965 Views

Fair Market Sales of Single Family Residential Lima Ohio Homes Rise

Lima Ohio Real EstateAccording 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.

Tim Parker
Call me  (614) 551-7341
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4 Responses to "Lima Ohio Homes: Sales and Prices Up over Same Period Last Year"

Theresa Ashworth wrote: I cannot disagree with your numbers more! Our home has been for sale for over a year and there has not been any interest from this herd of buyers that you seem to think exists

Posted on Tuesday, November 5th, 2013 at 10:57am.

Anna wrote: tim, just curious, i found a fannie mae home and the agent wouldn't show it to me saying it was too much trble. why would it be any more trouble than any other home? trouble for me or trouble for him? isn't that like a hud home or foreclosure?

Posted on Tuesday, November 5th, 2013 at 8:20pm.

Tim Parker wrote: Theresa - The information that I submitted in my article is the true data. Your frustration is evident in your comment and I can understand that it seems like "everybody else" is getting their properties sold while yours just sits there. There are many reasons why one property gains so much attention in the market while another gets ignored. What has your real estate agent told you as to why your home isn't being shown?

Posted on Wednesday, November 6th, 2013 at 10:40am.

Tim Parker wrote: Anna - Let me try to understand this: You found a home listed for sale, you want to buy it, you asked a professional real estate agent for help, and you didn't get any help? Outrageous! My professional Realtor status demands that I work diligently to promote the interests of my clients and the reputation of my profession in all interactions. This means that if the pursuit of a certain property type is going to be hard for my clients I educate them as to WHY. It is your decision to make as to whether-or-not to buy a property, not the agents.
I would (and will) happily work with you through the entire HomeBuying process.

Posted on Wednesday, November 6th, 2013 at 10:50am.

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