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Area housing market keeps improving

May 24, 2012
Tribune Chronicle | TribToday.com

WARREN - The area's housing market continued in April to show signs of healing, posting generally better unit sales, median price and days-on-market numbers.

The number of units sold in Trumbull County slipped to 130 from 137 in April 2011, but the median price rose nearly 2 percent to $64,050, and houses sold almost 20 percent faster than last year at 97 total days versus 121 days, according to the Youngstown Columbiana Association of Realtors.

In Mahoning County, sales surged 39 percent to 206 units from 148 last year. The median price came in lower at $66,500 versus $81,000, but houses sold faster, taking 93 total days on market compared to 150.

Year-to-date sales in both counties stayed above the year-ago pace - 486 to 464 in Trumbull County and 602 versus 493 in Mahoning County.

It was the third out of four months so far this year that both counties have shown gains in the housing market over 2011.

The area's growing natural gas shale business, plus continued strength at the General Motors Co. Lordstown Complex and other industries, plus historically low interest rates, are credited with giving homebuyers more money and confidence to buy.

 
 

 

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