The state of the Central Ohio Housing Market remains strong, and homes are continuing to “fly off the market,” according to the most recent news release by the Columbus Board of Realtors.
Central Ohio Real Estate Market Observations:
- Median Sales Price is +5.5% compared to a year ago
- Homes are spending 29% less time on market than this time last year
- Average of 2.3 months of housing available to meet current buyer demand (healthy market has 4-6 months of inventory)
My Two Cents:
- If a home is priced well and is properly marketed (e.g., professional photos, active online advertising to targeted buyers), it should be in contract very quickly (click here for a free and instant home valuation)
- High buyer demand can be attributed to 1) median household income at its highest since 2007; and 2) mortgage rates near historic lows (cost of borrowing is relatively cheaper than it ever has been)
[graphiq id=”k8smsy0f8fr” title=”Historical 30 Year Fixed Rate Mortgage” width=”600″ height=”494″ url=”https://w.graphiq.com/w/k8smsy0f8fr” link=”http://mortgage-lenders.credio.com” link_text=”Credio | Graphiq” ]
Local Market Reports & New Listings:
- Downtown Columbus
- German Village
- Grandview Heights
- Upper Arlington School District
- Hilliard School District
- Dublin School District
- Worthington School District
View all of Central Ohio’s newest listings here.
You can view this weekend’s open houses here.
Please don’t hesitate to let me know if I can be of any assistance to you, your friends, or your family!