Real estate is of something that is of interest to many individuals. This is not only true of those who are looking to purchase a piece of property or invest in their first home, it is also of interest to those who are looking for longer-term investments as well. Many areas of the country have been impacted by instability in the housing market over the past decade or so and this is also true of the area of Dayton, Ohio. Taking a closer look at the trends for 2018 in Dayton can certainly help you to make a decision as to whether it is a good time or place to make your investment.
One important thing to consider is the fact that you are purchasing locally when you buy in Dayton. This isn’t a large city, such as New York or Miami but rather, it is a relatively small area in the state. Of course, there is a thriving population and some people even consider it to be the healthiest population as far as size is concerned within Ohio. In fact, it has even seen increase enough that it is considered to be one of the best opportunities in the entire country.
As far as the local opportunities are concerned, there are many that you can find throughout the area. Beavercreek has become a very popular location for purchasing homes and for some building activity as well. Miami Valley is also a consideration, as are Centerville and Kettering. You might also want to consider the entire area of Washington Township as a spot where you can invest in property and see some return as a result of it. When you consider how many different people are entering the market in Dayton, it can really show you that it is on an upward trend.
Inventory is also something that is very important to consider, regardless of where you’re looking at purchasing real estate. It can be difficult to establish an estimate for inventory from one year over the next, but Dayton Ohio real estate seems to be on a trend that may be perfect for investors. At this point in 2018, it seems to be keeping a fairly steady balance, but it may end up going up by the end of the year. When you have enough inventory available, it may help to keep home prices lower and is perfect for those who are looking to purchase their first property or for investors.
Sometimes when you’re trying to make a long-term decision based on short-term data it can be difficult to see exactly which direction the best is to go. One of the things that you may want to consider is looking beyond 2018 at what 2019 or perhaps 2020 may offer. We discussed the possibility that inventory is going to go up by the end of 2018. It is going to continue that trend for the next couple of years at least, barring any serious changes in the real estate market.
The fact that there is an upward trend in inventory also means that it is a good time to sell a home or investment in property as well. Why is that the case? Because, if you are able to market the home properly and sell it quickly, you can begin on the next property very quickly as well. The fact that there are more homes available on the market does not always mean that they are selling slowly. What it does mean, however, is that there are more opportunities for investors and single-family homebuyers to switch homes and start at a new location.
One of the things that you may want to consider is the price of homes and that is also on an upward trend in 2018. When you look at the stats from 2017, you will see that Dayton certainly increased a substantial amount. The price of homes went up approximately 6% during the last year and it seems as if that trend is set to continue throughout 2018. With the prices of homes on the rise, now might be the best time to invest in a piece of property and hold onto it for long enough to get a return on the property investment very quickly.
One other factor that can be considered in the mix is the number of first-time homebuyers who have entered the market. Depending on the housing market, people are either going to be staying in their apartments or they are going to be investing in a piece of property. This is something that has been true throughout the ages and it is also true in 2018. Dayton has seen an increase in those who are getting into a home for the first time in their life. In other words, the younger generation is stepping up to the plate.
If you’re looking to invest in a piece of property and flip it for a quick profit, the fact that there are more first-time homebuyers can work to your advantage. Those homebuyers want the dream of having a piece of property, some stability and an investment that is going to work for them for a very long time. It doesn’t matter if you are looking at it from a long-term approach or short-term approach, however, the demand is going to stay high and the fact that more first-time homebuyers are entering the market means that properties are selling quickly.
The bottom line is, there are times to invest in property and there are times to sell property. In 2018, Dayton Ohio is poised to be beneficial for both those who are interested in buying and those who are interested in selling. You really need to consider everything that is involved, however, because if prices increase on an ongoing basis, you can end up flipping the home in 2019 or perhaps even at the end of 2018 for a profit. At the same time, the fact that homes are selling quickly also makes it a seller’s market. It just seems to be the best of both worlds in Dayton in 2018.