Home prices increase in Mahoning Valley


Sue Filipovich, with Burgan Real Estate, said demand for homes is driving prices higher in the Mahoning Valley

YOUNGSTOWN, Ohio (WYTV) – The Youngstown-area real estate market is on an upward trend.

The Ohio Board of Realtors says overall, average home prices in the Buckeye State increased by more than 7% from last summer to this summer.

Locally, prices are trending even higher.

Sue Filipovich, with Burgan Real Estate, said Mahoning Valley prices have increased by nearly 10% over the last year.

“There is still a shortage of inventory out there,” she said. “It’s the supply and demand factor. There’s less supply, but there is still a demand for the homes, which drives up the prices, and I think people are staying in their homes longer.”

Also on the rise are rental prices.

Filipovich said student loan debt is making it impossible for many people to get mortgages, so they’re renting for longer periods of time.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Mel Robbins Main Area Middle

Trending on WYTV.com