Welcome to the summer of 2021, where the housing market in Northeast Ohio has never been hotter! Jennifer Campanella, a standout realtor with the Keller Williams Realty Incorvaia Team, says that she’s never seen anything like what the current market is doing right here in our own backyard.
“It’s really unprecedented,” she says. “We’ve really never seen anything like this before in this region.” She explains that some of the reasons we are seeing this boom are that housing inventories are low, there is an influx of younger buyers entering the buying force and some of the bigger cities are losing the population they are seeking because more affordable housing exists outside of the city.
It is important to remember, however, that even though the price point of most houses in the area may seem like a lot or more than what we are used to seeing, on average, homes in Medina County and surrounding areas are considered very affordable. The current average selling price for a home in Medina County is $258,000, which is far below the national average of $408,000. And just a short drive away, you will find that the nearby Akron/Summit County area has recently been ranked as the 20th hottest market in the country by Realtor.com. In fact, the Top 19 housing markets on that list are averaging a selling price of $452,000, whereas Akron’s average selling price is currently at $180,000!
Because such great value can be found in this region’s market, we are seeing more and more families relocate from around the country to settle down here and call Northeast Ohio home. But with so many buyers looking at the same home, we are inevitably seeing more competition and bids being placed on those homes as well.
“Having an agent who’s experienced with multiple offers is very important because, for example, if you have 15 offers in to buy your house, you need to have somebody who has the experience to help you evaluate those offers and guide your way through the selling process to choose the right offer,” Jennifer says.
Regardless if you are buying or selling, the most important thing you can do in this hot market is to get a well-respected and trusted realtor on your side that is looking out for your best interests. One who is skilled in the art of negotiation and can get you the most “bang for your buck." Jennifer Campanella certainly qualifies as that person and is looking forward to being your realtor to help guide you through this historic housing market boom, right here in Northeast Ohio! Contact her at mymedinarealtor@gmail.com or call 330.636.6438.