In May 2019 the average price of homes sold in Columbus reached a new record of $253,531. That’s 7.8% higher than a year ago and the highest level yet. Although, increased home prices might seem like a deterrent, the drop in mortgage interest rates over the past three months has helped to offset this and […]
It’s no secret that the central Ohio housing market is hot right now. As demand continues to outpace supply, homes and condominiums are selling in record time. During the month of April, homes under $350,000 sold in an average of 26 days, while homes sold between $350,000 and $500,000 took approximately 48 days to sell. […]
Earlier this month, the Columbus area was ranked the #1 hottest housing market in March by Realtor.com based on home listing activity and days on the market. Don’t be fooled by this report or by a news release that states home sales were up by 24.7% in March. Both claims are misleading. Keep reading to […]
The Number of New Listings Jumped in January There were 2,181 central Ohio homes and condos added to the market during the month of January, almost 55% more than the previous month and an increase of 13.1% from one year ago, according to the Columbus REALTORS® Multiple Listing Service. There were 1,602 central Ohio homes […]
Central OH Homes Continue to be a Good Investment! Home prices continue to rise in central Ohio as the median sales price of a home sold from January through November 2018 was $195,000 which is 7.7% higher than homes sold during the same period last year. The average sales price for the first eleven months […]
Future home sales looking strong in central Ohio It’s no secret that interest rates have slowly, but surely, been inching upwards. While a 5% interest will cause many buyers to pause and reevaluate their purchasing power and strategy. Even a quarter point has a real impact on housing affordability. Skepticism is in the air, meaning […]
Inventory breaks 91-month streak The fall season is cooling down more than the temperature outside; it’s also putting a much-needed chill on hot housing markets, as in many markets home prices have become unaffordable to the average buyer. Across the country more than one in four home sellers dropped their asking price last month. With […]
A housing market defined by rapidly rising home prices, bidding wars, a lack of inventory, and sellers with the upper hand in negotiations may be changing. Lately, those who read economic tea leaves have been hinting that we may be heading toward a shift in the housing market. This makes sense, as surely national home […]
Existing home prices continue to climb Central Ohio homes and condos continue to perform producing an increase in the average price of a home sold in central Ohio this year. The average price of a home sold central Ohio in August was $229,033, which is up 6.4% from a year ago. The median sales price […]
Inventory on the rise in central Ohio The inventory of homes for sale in central Ohio in July climbed to 5,184, a 5.5% increase over June, although still down 5.7% from July 2017. This is the highest inventory of homes listed for sale since last fall according to the Columbus REALTORS® Multiple Listing Service (MLS). […]
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