CLARK COUNTY — Properties and houses for sale are not lasting long in Ohio, according to a study done by Realtor.com.
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The data showed that in Ohio, the average home listing lasts 42.5 days, which is the sixth fastest in the country.
Sunny Dhingra, of Always Sunny Realty in Springfield, told News Center 7 that lower-priced homes continue to be the fastest-selling in the market. Combine that with limited inventory, and that equals minimal options for buyers.
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“I did a snapshot for you today. We have 135 active listings in the entire Clark County, so this gives you a little perspective,” Dhingra said. “It’s obviously a very large county, going with 130,000 population, and with all the people coming from the Dayton, Greene County, Montgomery County, and Franklin County towards Springfield, we have only 135 active listings.”
In Clark County, there is help on the way. A 1,200-unit development is going up off U.S. Route 40, on the east side of Springfield, and another new build is coming to the southwestern part of the city.
Dhingra believes additional inventory and mortgage rates that are the lowest they have been in four years will prompt more people to move from rentals into homes, and encourage others to look for new properties.
“I hope the Fed’s got the rate one more time or twice, and I think that will stimulate. I think the tax refunds will help here in the next four to six weeks, with the first-time homebuyers, if somebody gets a $2,000 or $3,000 tax refund, that’s going to stimulate the entry-level first-time homebuyer, and we’ve been geared for it,” Dhingra said.
Dhingra also suggests that if you are in the market for a new home, you should rely on a licensed realtor so you don’t make a mistake.
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