Central Ohio Real Estate Update: May 2017

Central Ohio Housing Market Stats

April 2017 was a unique month for Central Ohio Real Estate. The graphs above paint a very clear picture of what the market looks like right now, and it’s blatantly obvious that there simply aren’t enough homes for sale.

In fact, there were approximately 4,300 homes on the market last month, down 19% from April 2016. This supply shortage is putting pressure on the market, driving prices higher, and forcing homes to sell faster.

So what does this mean for homeowners? With home prices in many communities at an all-time high, now may be a good time to consider cashing in on your investment. This especially bodes well for people who don’t necessarily have to buy a new home right away, such as investors or retirees.

On the flip side, what does this mean for someone trying to buy a home? Despite home prices being at an all-time high, many economists believe prices will continue in rise. The growth and development we’ve seen over the past couple years is just the tip of the iceberg. Columbus will continue to morph into a 21st century metropolis, similar to the transformations of Denver and Austin during the early 2000s. That said, buying a home right now is not easy. Buyers need to be prepared to act quickly and strategically out-bid and out-maneuver other buyers. Hiring a good Realtor is the first step in being able to do this successfully.

For a detailed report on your neighborhood, contact The Alfriend Group today at (614) 395-1776 or email us at info@alfriendgroup.com.

New Listings!

4 bedrooms, 2.5 baths, 2576 SF

Community News: Summer Fun in Dublin

Summer is one of the most exciting time of the year in Dublin Ohio. Check out our recent blog on some of the coolest happenings of Summer 2017. Below is a list our top 5!

  1. The Memorial Tournament
  2. 4th of July Celebration w/ Peter Frampton
  3. Dublin Irish Festival
  4. Arthritis Foundation Auto Show
  5. Sunday Concerts at Scioto Park

Leave a Reply

Your email address will not be published. Required fields are marked *