It’s been a bullish housing market in Fulton County in 2019, and local realtors say sellers should jump into the fray while the getting remains good.
It took the local market until just a couple of years ago to fully rebound from the housing abyss created by the 2008 recession, said Misty King, area Amerimade Realty owner. For now, however, houses are practically flying off local listings.
“2019 has definitely been a seller’s market,” King said. “Historically, houses take about an average of 120 days to sell. So far in 2019, it’s taken only 80 days to sell, on average. That’s a huge record breaker.”
According to the NORIS Multiple Listing Service through the Toledo Board of Realtors, 286 homes have been sold in Fulton County in 2019 through Nov. 5, at an average cost of $153,574. The county currently has 82 active listings, with nine sales pending.
Eight licensed Amerimade agents working in Fulton County sold 54 houses so far this year, as compared to 50 total in 2018. Some properties received between five and nine offers within the first three days of being listed. In other cases, buyers made offers in as little as 12 hours after a listing appeared, and, in one instance, within an hour.
“That’s how crazy the market is,” King said. “If you price it right and it’s very eye-appealing, you could still potentially get multiple offers in the first week in certain areas. I would tell my sellers, list now, because the market is still decent.”
And while Amerimade’s number of area sales still hasn’t returned to record-breaking 2006 levels – 411 homes between Fulton, Williams, and Defiance counties – the dollar-per-square-foot record has presently been shattered. That figure in 2005 stood at $69.22. This year, it’s reached $76.59.
The pace of sales is currently brisk, King said. So good, in fact, that some buyers aren’t fast enough on the draw to get in a bid.
“It’s almost frustrating, especially working with a buyer, because buyers have to have their ducks in a row and jump almost immediately,” she said. Those wanting a shot at a listing should have a pre-approval letter in hand and an agent who monitors the market hourly. This year’s spring and summer months saw listings snapped up almost as soon as they became available.
The bullish housing market can also be hard on sellers, King said. “They’ll have multiple showings in the same day…and now they have to figure which is the best of three, four, five offers,” she said.
County housing hot spots include Archbold and Pettisville, so much so that Archbold has only 18 listings available – with all but one over $100,000 – and Pettisville has none, according to King. Listings falling between $75,000 and $120,000 in those communities have the potential to be sold almost immediately.
Median list prices around the county include $151,750 in Wauseon, $134,900 in Delta, $179,900 in Swanton, $155,000 in Archbold, $103,749 in Fayette, $167,500 in Metamora, and $155,900 in Lyons, according to Realtor.com.
Frey & Sons Realty in Archbold has had 45 closings in the past six months. The agency currently has nine listings in Fulton County.
“There are not a lot of houses for buyers to pick through,” said Stacy Lillard, Frey & Sons Realtor. “Some listings have gone within a day. On average, (currently) they’re probably going quicker.”
Lillard said the typical fall/winter lull in sales hasn’t occurred this year. “Properties are still selling very quickly and in some situations, getting multiple offers in the first few days they’re listed,” she said. “It is definitely still a sellers market. There are buyers still out there looking for homes.”
Still, King warns that, as in the past, fortunes can quickly change.
“There’s a good possibility we could have a market crash again, if the government goes into recession,” she said. “Every day you hear something different. It’s such a rollercoaster right now. And the housing market is one of the first to be affected.”
Lillard doesn’t look that way at the market, since rumors of a declining housing market have bounced around for a couple of years.
“We are just trying to help our buyers or sellers to reach their goals within the current market,” she said. “We try to help buyers find the home that meets their needs and sellers to sell their home in a reasonable amount of time.”