Local real estate market sees uptick

By Wayne Allen - [email protected]

Recently released data shows the area real estate market is seeing an uptick in sales.

Craig DeAtley, Broker/Owner of Century 21 Empire Realty S.E., said in some areas of Scioto County, real estate purchases are up as much as 54 percent, when compared to the same time last year.

DeAtley said the figures are available through the Portsmouth Area Board of Realtors Multiple Listing Service that tracks sales in Scioto County. He said the sales are basically tracked by school district.

DeAtley recently addressed the Southern Ohio Professional Partners at a recent meeting. During his presentation, he compared real estate sales in Scioto County through the third quarter of 2016, through the third quarter of 2015.

He said the numbers tracked are not just Century 21, but a combination of all real estate companies in the area.

“This (data) is sales through the multiple listing service. The number I’m looking at are residential numbers, that’s not vacant land or commercial properties,” DeAtley said.

Figures show real estate sales within the Wheelersburg area as $9.65 million, an increase of 29 percent when compared year over year. Sales within the Clay area were $2.4 million, an increase of 28 percent when compared year over year.

DeAtley said sales within the West area stayed the same when compared year over year.

“Portsmouth is the one I’ve been super excited about, because at the end of the third quarter, year over year they were up 25 percent. Lest year (2015), Portsmouth had seen $6.5 million in sales, this year through the third quarter they’ve seen $8.2 million,” DeAtley said.

The area seeing the biggest increase was the Valley area, a $2.6 million increase or 54 percent when compared year over year.

“Last year they (Valley area) had $1.6 million in that particular school district and that’s why there is such an increase,” DeAtley said.

He said it’s hard to pinpoint why certain areas will do better than others, while other areas experience smaller increases or stay flat.

“I’m most excited about the increase in Portsmouth, because as a struggling city, the better Portsmouth is the better the surrounding communities are,” DeAtley said.

He went on to tell the story of two mothers talking to one another about their kids riding the bus, to and from school. One mother said they had taken their child off the bus and they thought things on the bus were getting worse. The second mother agreed and took her kid off the bus.

“It was not, more bad kids were getting on the bus. It was that all the good kids were not riding the bus anymore, so it continued to seem like things were getting worse,” DeAtley said.

He said that story reminded him of Portsmouth.

“If all the good people leave town, it’s not that things get worse, you just see a more negative situation,” DeAtley said. “I’m really pleased that we’re seeing an increase in numbers and more people comfortable living here.”

DeAtley said he’s excited to see how the year end numbers will look for the area. He said those numbers should be available closer to the beginning of the year.

By Wayne Allen

[email protected]

Wayne Allen can be reached at 740-353-3101 ext. 1933 or @WayneAllenPDT on Twitter

Wayne Allen can be reached at 740-353-3101 ext. 1933 or @WayneAllenPDT on Twitter