Morrow County, Ohio Real Estate

Home Sales in Morrow County Continue Upward Trend

The statistics continue to show improvement for the existing home sale market in Morrow County.  Mount Gilead, Cardington, Marengo and outlying areas all show increased: sales activity, units sold, average sale price, median sale price, along with decreased number of units on the market ( a return to more normal supply and demand).

This is good news for Morrow County residents as home sale prices begin to normalize and the inventory of homes available for purchase decrease.  This will continue to provide higher home prices.

It's too early to tell for sure, but so far the last few months of market activity in Morrow County would seem to indicate that we are "beyond the worst" and returning to more normal home sale market activity.

Buyers who might have been waiting for the "bottom" to buy, might want to act fast before the numbers continue to climb in the coming months.

Here's a quote from the Columbus Board of Realtors:

"Home sales in central Ohio home have exceeded 2010 for the last four months according to the Columbus Board of REALTORS®. The 1,543 homes sold in October marks an 8.6 percent increase over the 1,421 homes sold in October of 2010. Home sales in September were up 16.6 percent compared to the year before.

Year-to-date, home sales (January through October 2011) are only 2.1 percent behind 2010 and closing

the gap. Homes put in contract last month (1,379) were up 46 percent from a year ago making October the sixth straight month of increased contracts."

To see the entire Columbus Board of Realtors Statistical Sales Report

for Morrow County, October 2011, click here.

Morrow County Home Sales Update September 2011

More good news for the Morrow County real estate market based on the numbers reported this week by the Columbus Board of Realtors.  All Morrow County real estate offices and agents belong to the CBR and, as a result, our sales statistics are entered into their data base on a daily basis.

Columbus Board of Realtors compared September, 2011 to the same period last year (September, 2010) and report the following statistics;

• Sept 2011 had 20 closed sales as compared to 16 closed for the same period last year.
• Sept 2011 showed average sale price of over $130,000 compared to $67,000 last year.
• Percent of original list price received of 91% compared to 83% last year.
• Days On Market were a little longer at 88 days compared to 62 last year.

Morrow County Home Sales Report for September 2011

Although our Year To Date numbers are still down compared to YTD last year, the last two months have seen a substantial upswing in sales activity and sale prices.  This is good news for the Morrow County home seller and our local economy in general.

Local lenders are still offering very competitive 30 year fixed rate mortgages around the 4-5% interest rate range and if you've given any thought to buying a home, now is definately the time.

If you've been thinking of selling, give me a call and we can talk about how today's local real estate market will affect you

Morrow County Home Sales Up in August 2011

Morrow County, Ohio home sales were, once again, up in August of 2011 as compared with August, 2010.  This is good news for homeowners in; Mount Gilead, Cardington, and Marengo and all the other smaller villages of Morrow County.

Average sale price and number of units sold are both up against the same period last year as well as the percentage of list price to sale price.

Follow this link to see the detailed report and charts published by the Columbus Board of Realtors.

Although our Year To Date sales numbers are still down as compared with Year To Date 2010, we are showing some gain and growth and we look for this trend to continue.

Note that our number of new listings YTD of 258 is down as compared to 333 for the same period last year.  This is also good news as this shows the natural correction in the market.  Fewer homes for sale equates to slowly rising prices - the law of supply and demand.

If you have any questions about this data and how it affects you and your home value, please call me and we'll talk it over.  I'm here not only to help buyers and sellers, but homeowners as well.

Just released statistical data from the Columbus Board of Realtors and the Central Ohio Multiple Listing Service showed a marked increase in Morrow County home sales for the period July, 2010 over the same month July of 2009.  The data shows that more homes sold and at a higher price and at a higher list price-to-sale price ratio.

While Mount Gilead, Cardington, and Marengo home buyers are enjoying historically low 30 year fixed mortgage interest rates, (often as low as 4.5%) along with a plentiful supply of homes to choose from, sellers are finally beginning to realize better sale prices for their homes.

Working with a Realtor in Morrow County, buyers can realize the benefits of being represented throughout the home finding and transaction processes.  Buyer representation does not cost the buyer yet adds real value to the overall process.

Morrow County Market Activity October 2009

WHEW!   After a dismal September of 2009 with only 8 homes sold in Morrow County, October proved to be a banner month.  The market has begun to rebound and the numbers prove it.  There were 23 homes sold in Morrow County, Ohio in the month of October, 2009!  That's equal to the 2005 numbers!  Of course, this is only one month and many of the sales are likely attributed to buyers trying to get in before the expiration of the first time homebuyers tax credit, (which has subsequently been extended), but overall, I'm seeing more activity.  More web site visitors equates to more phone calls to set showings, which turns into more Purchase Contracts!

During October, 2009 the average LIST PRICE was $118,522 and the average SALE PRICE was $112,217 or a 94% list to sale price ratio.  The average home SIZE was 1,677 square feet and the average DAYS ON MARKET was 103 days, or just over 3 months.

To see a complete detailed report showing each home with detailed listing information, agent comments, and all the pictures, click on Morrow County Solds Oct 2009.

If you've been thinking of making a move, call me now and we'll talk about the market in your neighborhood and how my marketing plan can work for you to get your home SOLD!

September 09 Homes Sales in Morrow County, Ohio

September 09 Home Sales in Morrow County, Ohio were down from the previous month and you can see a complete, detailed report by clicking September 09 Morrow County Solds.  This report will show address, picture, size, acreage, comments, sale price, days on market, and more.

The $8000 First Time Homebuyers tax credit has most likely helped to bring some of these buyers to the table, yet the number of homes sold has dropped off drastically from the typical average number of about 20 homes sold per month.

There are currently 157 homes on the market in Morrow County with an average list price of $173,749 and these homes have been on the market an average of 124 days.

Although the number of homes SOLD during the month of September was down to 8 units, it is reassuring to note that as of today (Oct 12) there are 25 homes that are "In Contract", that is, the buyers and sellers have agreed on price and terms and they are working toward closing by satisfying inspection or financing contingencies. 

So it's entirely feasible that October will turn out to be a stellar sales month with the number of total units sold well over 25 homes.

To get more information on the present real estate market in Morrow County, call Herb now at 419-947-4004.  To find homes for sale in Morrow and surrounding counties, visit www.herbsells.com

Morrow County market activity has been strong in August of 2009 thanks to; continued historically low mortgage interest rates along with the continued ability to take advantage of the "gift" money of up to $8000 in the form of a tax credit.

During August, Morrow County Realtors sold 23 homes which were listed at an average asking price of $111,078 and which sold for an average sale price of $103,071 or a 92% list to sale ratio.  These homes were on the market an average of 123 days.

There are still currently 151 homes on the market in Morrow County, with an average asking price of $173,877.  These homes have been on the market an average of 119 days.

As is evidenced by the numbers above, still, the lower end homes (average) are the homes that are moving.  Keep in mind that these "average" numbers include distressed properties that include; bank owned, foreclosure, and short sale properties.

For a complete and comprehensive report on all 23 homes that sold this past month in Morrow County, send me an email and I'll email you the pdf file.

To talk with me about buying a new home or selling your present home, call me now at 419-947-4004 or send me an email.