MACEDONIA, Ohio (WJW) – Local realtors say the housing marking is heating up despite the coronavirus pandemic.
“It is a hot market right now,” said Amber Lewis, owner of New Era Real Estate Group. “It really is a sellers’ market I believe because there’s less inventory. I think people are a little gun shy about really having their home on the market.”
Lewis said the housing market is so hot many sellers have to navigate multiple offers at once.
“So west side what we’re really seeing is Westlake, Strongsville, North Olmsted, east side places like a Macedonia, Solon, Lyndhurst and Mayfield,” she said. “[There are] not a lot of properties on the hot, hot market there.”
The trend is spilling into other professions who benefit from a thriving market.
“It’s booming right now with the home inspection,” said Robert Zmorowski of Advance Tech Electrical.
“[Owners] actually are getting higher offers than what they are asking for,” Zmorowski said. “A lot of realtors that I’ve talked to actually they’re asking $150 [thousand dollars] people are shooting $160, $175.”
Some first-time home buyers say while the process to purchasing a home in a competitive market can be exhausting they are ready to move, in part, to increase the distance between themselves and apartment neighbors during the pandemic.
“Maneuvering around and being close to so many people you don’t know if they’re following certain practices or not definitely leads to anxiety and yea that is an additional motive for us to begin this process,” said Anthony Robinson looking to buy his first house with his wife.
Robinson said with homes selling so fast you can’t afford to hesitate when you see a property you love.
“It’s very frustrating, obviously everyone is in the market right now with the low interest rate it adds a bit of added stress,” he said.
According to Lewis homes in North Olmsted are on the market an average of 28 days this month compared to 44 days last June. In Macedonia the current number is 34 days compared to last June’s 43 days on the market.
Although real estate is a cyclical industry, for now the pandemic is not slowing things down in many Northeast Ohio communities.
“What a story to tell your grandkids, that you bought a house during a pandemic right, you kept moving and you didn’t let that stop you,” Lewis said.