The buyer tax credit program by the federal government was the incentive for the increase in the Ohio housing market. Overall sales in Ohio from January 2009 till June 2010 showed a 14.3% increase from the same period last year 2009 to June 2010. The dollar volume in Ohio increased from $1,495,623,034 to $4.771,008,674 or 18.4% in the same time period, The average sales price for Ohio homes went from $141,913 to $146,972 or a 3.6% increase in the same time period.
For Toledo, Ohio the number of units sold showed an increase of 12.8% from June 2009 to June 2010 and the average sales price increased from $115,642 to $119,566 or a 3.4% increase.
What does OAR predict for the future? In summary...The market will continue to recover, consumers are being more realistic about what to expect, interest rates are at a historic low, prices are stabilizing and tending to increase, and owning a home is still a good investment.
If you would like to see my site on the Toledo Board of Realtors MLS here's the link.
These figures are based on the the Multiple Listing Systems throughout Ohio.
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