Real estate sales trending up

COSHOCTON -- Local realtors are selling more homes than a year ago, mirroring the statewide trend that shows about 2,000 more homes sold in the first two months of 2012 during the same period in 2011.

In the Northeast Ohio Real Estate Exchange area, which comprises real estate data from 17 counties including Coshocton, Holmes and Tuscarawas counties, almost 500 more homes were sold this February than 2011's total, according to statistics from the Ohio Association of Realtors. Almost 900 more homes were sold when combining January and February numbers year to year.

The Zanesville Board of Realtors also saw an increase, reporting 11 more units sold in February compared to the same period in 2011, and 17 more in January through February combined during 2011.

Deborah Davis Graham, of Olde Towne Realty, which has offices in Coshocton and Zanesville, said a mild winter and interest in homes with acreage is contributing to the local uptick.

"I think we can look at these (numbers) optimistically," Davis said. "We're seeing land sales, particularly in contemplation of the shale. Homes with 20 to 30 acres are going quickly, so there are some positive things happening with that (shale)."

Graham expects sales of land and multi-family rental properties will remain strong, and she expects residential sales will pick up as well as the area realizes the benefits from the shale development.

"The weather isn't hurting us, either. We've had a lot of showings in this spring-like weather," Graham added.

Terry Longsworth, owner/ broker of Dale Gress Real Estate in West Lafayette, also said sales have been steady, "but we've sold so much our inventory is running low, and you've got to have product on the shelves to sell."

Longsworth said the past two winters have been a slow time for Dale Gress, but this winter has defied that trend.

"The television paints an ugly picture of the real estate market sometimes, and we've definitely taken our hits here in Coshocton County, when you lose a GE, JII, Pretty Products," Longsworth said. "But these things happen in cycles, and I think we're selling out of it pretty good."

Ohio Association of Realtors President Robert Miller said the statewide housing market is displaying signs of recovering from the economic downturn, which led to deep housing market losses beginning in mid-2008.

Sales activity was up 19 percent in February from a year ago, with the Athens-area Multiple Listing Services report showing the only decline in sales (an 18.2 percent dip, but just four fewer housing units sold).

Of the 19 MLS in the state, 11 showed double-digit increases in the percentage of units sold year-over-year for February.

Overall, the Ohio housing market has posted eight consecutive months of sales gains, Miller said, and surveys show realtors are confident the gains can continue with low interest rates and prices stabilizing.

"The difficult challenges we've faced since the economic collapse of 2008 have certainly not completely dissipated, but it's apparent that the industry is encouraged that the light at the end of the tunnel is getting brighter," Miller said.

Source: http://www.coshoctontribune.com/article/20120402/NEWS01/204020303