The CantonRep
Real Estate
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2018 Stark County real estate market review

By Joey Marino
President Stark County Association of Realtors

 

As the 2019 President for Stark County Association of Realtors, I will occasionally use this column to help keep you informed on the health of the real estate market in Stark County and the nation.

 

2018 was a terrific year for real estate! We saw definite growth in property values and in many cases, homes were under contract within days of being listed for sale. In the Stark County housing market, one factor that has been impacting real estate sales is the decreased number of active listings. The amount of available homes for sale county-wide this past month is almost the same as we had in December 2017. This is a change in the trend from the previous three consecutive years, where there was a significant decrease in inventory year-over-year but is still a record low supply.

 

In 2018, Stark County saw an increase in the number of existing home sales for the year, but the November and December months have seen a small but measurable decrease in sales when compared to the same months in 2017. Overall median sales prices have still been increasing in the county when seasonally adjusted and nationally price increases are still slightly outpacing income growth.

 

Rising interest rates have been driving home buyer demand and have caused a little hesitation for some buyers. However, according to the Fed, rate increases may slow down in 2019. This slight shift in the market may signal that 2019 is the best time to buy or sell a home. Locally we are looking forward to another great year of home sales!

 

For more information regarding your local real estate market, reach out to a Stark County Association Realtor member. A Realtor will have the tools, experience and expertise to help you navigate the real estate market.

 

The Stark County Association of Realtors welcome you to visit our website at www.starkrealtors.com for a complete listing of Realtors and Affiliate members who are sure to meet your professional needs. The Stark County Association of Realtor members are honored to service the Stark & Carroll County Communities.

 

If you have any questions or comments on this article, please contact me by email at president@starkrealtors.com.

 

The voice of real estate in Stark and Carroll counties.