Ohio had it’s best year since 2005 in the housing market despite the low supply. Across the state, home sales were up 7.5% from 2015, and in northeastern Ohio that number was actually 8%. Even December sales were up 2.8% despite the traditional end of year slow down. Nationally, the median home price was $232,200, ($159,531 in Ohio), a 4% increase from 2015 (a 4.8% rise in Ohio). Lawrence Yun, Chief Economist for the Trade Association, credited the rise in job for this change in the market.
According to ideamensch.com, all of this good news is tempered by the fact that the market is experiencing a very low supply, making the houses on sale a hot commodity. Currently the market has a 3.6 month supply, tipping the scales in favor of sellers and letting availability determine prices. And with mortgage rates remaining at a low 4.09% prospective buyers are snapping up listings quickly. With this quickly changing market, prospective buyers need a knowledgeable and experienced realtor to help them find the home of their dreams.
Tammy Mazzocco started her career in real estate in 1995 while working for The Edwards Realty Company. From there she moved into property management with Scotland Yard Condominiums where she worked for 7 years. And then in 1998, Tammy Mazzocco became a licensed personal assistant for a Re/Max producer in the Columbus area.