Wednesday, February 22, 2012
YOUNGSTOWN — High temperatures and low interest rates led to skyrocketing January home sales in the Mahoning Valley, according to statistics released today by the Youngstown-Columbiana Association of Realtors.
Home sales in the three-county area totaled 266 in January, up 24 percent compared to January 2010, when the associated registered 214 sales.
“No. 1, the interest rates have continued to stay rock bottom,” said Michael D. Klacik, broker at Klacik Real Estate. “No. 2, we have not been hit with the doldrums of winter blues. I’ve only had to shovel two drives for my open houses.”
In Mahoning County, sales rose 27.5 percent from 98 to 125 and the average sale of a home climbed from $74,125 last January to $75,948.
In Trumbull County, sales increased a modest 9 percent from 85 to 93; the average sale of a home ascended from $66,388 to $72,412.
In Columbiana County, sales swelled 55 percent from 31 to 48 and the average sale of a home inched up from $84,131 last January to $84,283.
“The buyers out there are realizing there’s a substantial markdown on prices of homes,” Klacik said. “There’s a lot of pent-up inventory.”