By Jessica Botkin
Once upon a time, Ohio was viewed by many as a rusty dinosaur of a state, mostly due to the lack of job opportunities here following a recession that nearly wiped out our manufacturing industry. Now, Ohio is proudly on the upswing: the economy is revitalized and our real estate market is bouncing back to life. (Not to mention, our Ohio State Buckeyes recently won the national championship trophy in the first-ever College Football Playoff game!) All in all, Ohioans are collectively feeling better than we have in nearly a decade.
I recently attended a Young Professionals Networking event in Columbus and had an opportunity to chat with the keynote speaker, Steve Brown, president of the National Association of REALTORS®. We spoke about Ohio’s comeback and how 2015 looks bright for prospective and current homeowners in our area.
For the first time in nearly five years, homeowners have built equity in their homes and appraisals are often coming back at over list price. In fact, December 2014 went down in the record books as the highest level of sales for any December on record in this area! We as Ohioans have more than just the National Championship to thank for our winning grins. The average sales price was up 5.7% over last year, giving homeowners a chance to breathe a sigh of relief after years of abysmal news on the equity front.
And this good real estate news is translating into good news for our communities and cities. Dayton, for instance, is seeing a resurgence of restaurants, sporting events and cultural venues. Our minor league baseball team, The Dayton Dragons, have sold out 1,015 consecutive games! Developers are adding to our already-vibrant craft brewery scene and upscale restaurants are popping up all over town.
But the story of Southwest Ohio isn’t just contained to our region of the country. As I speak to my fellow real estate agents around the U.S., similar tales emerge of regions experiencing economic renewal and real estate markets that are coming alive. What are you seeing in your area? Tell me in the comments below!
JESSICA BOTKIN is an agent with Berkshire Hathaway HomeServices Professional Realty in Dayton, OH.
To contact Jessica, send her an email, Jessica.Botkin5@gmail.com, or find her on Twitter, @Jessa8576.