Perrysburg is hottest housing market in northwest Ohio, experts say

A house for sale last year in Perrysburg, on average, was on the market for 112, nearly a month shorter than sales the year before.
TNS Regional News
Feb 15, 2014

 

The president of the Toledo Board of Realtors says Perrysburg is the hottest housing market in northwest Ohio.

John Mangas said cited the factors creating the status for the Toledo suburb: good schools, good retail stores, and land developed and ready to build.

It is very much a market for home sellers, because the houses are selling quicker than in the past and at prices closer to listing prices, local real estate agents say.

A house for sale last year in Perrysburg, on average, was on the market for 112, nearly a month shorter than sales the year before, according to a report by the Board of Realtors. The report shows the average sales price last year was $218,240, barely down from the year before. For Lucas and northern Wood counties, homes were on the market last year for, on average, 132 days and the average sales price was $100,300, according to the board report.

Mike White, with the Buckeye Real Estate Group, said he is selling five homes in Perrysburg for every one in Sylvania. Both are nice communities with good schools, but the higher property tax in Sylvania drives people to Perrysburg, he said.

"It is definitely a sellers market," said Barb Stout, real estate agent for Danberry Realtors. "If the place is in good shape, and the price is right, it is selling."

While the home market in the Toledo area is starting to come back, Perrysburg stands out, she said. Three years ago, Mrs. Stout said, there was plenty of houses for sale that allowed buyers to be choosier, but now it's the reverse.

As the country emerged from the recession of 2008, Mr. Mangas said, lenders were more hesitant to provide money to builders of new subdivisions. But now Perrysburg is helped because some property has sewers and road access, making building and selling homes easier, he said.

Perrysburg Township resident Erin Walter and her husband, who have a baby on the way, are looking to move from an apartment to a Perrysburg home. The couple knows it isn't the best time to buy in Perrysburg because sellers know there a relatively few homes for sale and might be less willing to bargain on a sales price.

"It is a great place to raise a family and has a great school district compared to others in the area," Mrs. Walter said. "We've lived here for a year and a half and really like the area."

The advantage for sellers in the market makes her a bit concerned about finding an affordable but good home in a good neighborhood.

Dan DiSalle, an agent and vice president for DiSalle Real Estate Co., noted that the winter helps the sellers because generally fewer houses are for sale in the winter than in the spring.

"There will be more listings in 90 to 100 days and there will be more of a selection," he said. "Lets face it, if you don't have to move right now you won't."

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By Matt Thompson - The Blade, Toledo, Ohio (MCT)

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