Residential Appraisals on the Rise

This article is by Greg Stitz, OAR Director of Research. It was pulled from ohiorealtors.org on 4/11/2017. 

Residential appraisals have been trending higher since March 2013, when participants in the Ohio Association of REALTORS’ housing confidence survey first reported how appraisals in their area were coming in. This March, 62 percent indicated appraisals are coming in higher, which is 17 percent more than the 45 percent reporting the same in 2013. Also, 36 percent of respondents to this year’s survey indicate appraisals have stayed the same and only 2 percent are noticing appraisals coming in lower in their area.

Survey results are based on responses to a monthly survey, designed to capture the effects of the existing economic conditions and trends on the real estate industry, sent to a pool of 1,500 OAR participants.

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About The Author
Kelly Forman

As a Realtor and Director of Marketing, Kelly’s professional experience brings unique advantages to her clients. Before joining Forman Realtors, she informed branding and marketing initiatives at local, national, and international levels. As a third generation Realtor, she has a clear understanding of market trends that impact Central Ohio. Finally, Kelly has a graduate degree that enables her to negotiate transactions and mediate client relationships with a higher level of skill.