TOLEDO (WTOL) - The February housing numbers for northwest Ohio are out and the total amount of houses sold in the last 12 months is slightly down 0.3 percent, while the median home price is up nearly 5.8 percent.
Dan McQuillen, broker and owner of The Danberry Company said he hasn’t seen signs of Toledo’s housing market cooling down this spring.
There are houses in the $200,000 to $400,000 range being sold in days and in some cases, even in a matter of hours. “As long as the employment rate is still going up then we see the next 12 to 18 months of real estate being a good market. Once that starts dipping down then we might know there’s trouble ahead,” McQuillen said.
The broker said he urges buyers to have a pre-approval ready in order to secure their dream home. Additionally, sellers should make sure to have professional pictures done and have the home staged to look its best.
“In that market that’s under the $400,000, if doesn’t sell within a week in today’s market you know you’ve missed the mark on the price,” he said.
McQuillen said it’s a duel market in Toledo’s suburbs. Buyers have the upper hand in homes over $400,000 and that could become a good opportunity for families looking to move up.
“If you’re in that price range under $400,000, now’s the time to sell and cash out. You want to sell high and then you can buy a house in the luxury market and buy low and you still take advantage of the low interest rates,” he said.
