SPRINGFIELD, Ohio (WDTN) – Springfield has been named the fifth hottest housing market in the country, according to USA Today.
Rankings were based on “the number of unique views per property and the number of days a listing stayed active on Realtor.com in March 2021.”
Lori Fulk, owner and managing partner of Real Estate II in Springfield, said she believes the booming market has a lot to do with its location between metropolitan areas and the cost of living.
“Coming to a community like ours with a hometown feel has a lot more amenities as far as helping [people’s] monthly budget, the taxes are lower, you get a lot more house for the money,” she explained.
But unlike more developing cities, she said the lack of new inventory plays a factor in why homes in the area are selling so quickly — typically less than 30 days.
“There’s plenty of buyers and not enough sellers, just as we see in other markets, but we also don’t have the growth of new construction. It’s starting to happen, but it’s not been effective enough to keep that flow of new inventory coming in.”
Jeinnine Roediger, loan officer with WesBanco, said those factors, combined with historically low rates, good schools and a resurgence of downtown, keep in-and out-of-state buyers flocking to the area.
“[We’re] getting probably four to five pre-qualifications a day, so it is non stop. [We’re] working long hours, but it’s worth it.”
Ryan King, realtor at Real Estate II, said the median price for a home in Clark County is about $145,000 according to the county’s Multi-Listing Service.