Home Prices and Supply tell two different stories in Marysville, Ohio Real Estate

By
Real Estate Agent with Real Living HER

I am on my way home from visiting my brother in Boise, Idaho and in the airport I pick up a USA Today for some reading material on the airplane. In the money section of the paper, I saw "Home Sales Up 6.5% in the month of December." I thought to myself, wow that is exciting, seeming how I am a Realtor in Marysville, Ohio. I then started thinking to myself, wonder what the market did in Marysville for the month of December? I started to look at the numbers for December as well as the past 12 months for the City of Marysville, Ohio and here are some of the results that I found (keep in mind that these homes are priced between $150-$250K). Below in the first graph, you can see that the greatest month of supply for homes was November of 2007 @ 116 homes on the market. Since then there has been a steady decline in the supply of homes in the Maryvsille Corp. Limits. This includes Mill Valley and Green Pastures. This is a good sign, a sign that shows me that it is going from a dominant Buyers market to a more even market for both Buyers and Sellers. This is one positive we can draw from, but on the other hand the next graph shows that the average active and sold prices from Jan of 08 to Jan of 09 is down for Marysville, Ohio real estate. Still in the same category of $150-$250K, prices have dropped. Active sales prices have dropped 2.1%, while sold prices dropped 7.6%. Yes, I know it is not a staggering 33% drop like Las Vegas or even a 12.5% drop like Cleveland, but it shows indications that it is still a strong Buyers market even though the supply is starting to come down to meet the demand. I believe that supply will rise a little in the spring and then coming back down a in the late summer months. I also think that we will still see a small decrease in sales price again in 2009, but not a significant amount. I feel there has never been a better time to purchase Real Estate in Marysville, Ohio than right now. With the interest rates dropping, the new stimulus tax credit of $8,000 for first time home buyers and home prices still down, Right Now is the Time to BUY! If you or someone you know is in the market to Buy or Sell a property please feel free to give me a call or email. You can reach me at 937-209-0462 or jamie.collins@realliving.com. Please don't hesitate to call or email with any questions you may also have. You can also visit my website to learn more about me or look for local listings in Marysville, Ohio and the surrounding areas @ www.Sell4UMarysville.com

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