Boardman, Ohio Market Still Favors Buyers by wide Margin

Mahoning Valley Ohio
Market Report

Youngstown, Boardman, Canfield, Poland, Austintown
 and surrounding Ohio communities in
 Trumbull, Mahoning, and Columbiana Counties.

Boardman, Ohio Market
 Still Favors Buyers By Wide Margin

Absorption Rate refers to the rate at which properties are able to be sold (or absorbed) in an area within a given period of time, usually one year. It tells REALTORS^® the supply (inventory) of houses on the current market and how long it will take to sell all of those houses:

A quick scan of all homes for sale within the area of Boardman, Ohio September 23, 2007 showed 472 homes on the market (with a status of either active, contingent, or pending). For the period September 24, 2006 through September 23, 2007 there were 403 new and existing homes sold.

If it took 12 months to sell 403 homes; than it will take over 14 months to sell the 472 homes currently on the market. Yes, we have ourselves a rip roaring Buyers' Market in Boardman. As further proof, the median sold price of a home in Boardman is currently at $98,000 compared to the year ago median of $113,000..

If you're a buyer waiting for the market to "bottom out" be advised that knowing when that actually happens is nearly impossible, because the news media is always so very far behind what's actually happening in the trenches. That's why 90 percent of Americans miss out on "bull" stock market runs - by the time the news media gets wind of it, the bargains are long gone.

Nobody has a crystal ball, but it's been proven time and again that fence-sitters waiting to time the market bottom are likely to be wrong, while those who buy now will likely reap the gains of home price appreciation in the coming years.