September 2017 marked the first dip in Central Ohio real estate sales in over 6 years. But was this merely a blip in a much larger trend, or a sign of looming disaster?
It may be too early to know for certain, but I’m excited to announce that year over year real estate sales are once again on the rise! Over 2,700 homes were sold last month, a 4% increase over October 2016. This marks the most homes ever sold in October in Central Ohio.
In addition, average home prices increased by 8%, from $199,530 to $215,296. We also saw a substantial decline in days on market.
According to the latest Housing Market Confidence Index by the Ohio Association of REALTORS®, 90 percent of central Ohio REALTORS® expect prices to rise over the next year, while 8 percent expect prices to level.
For a detailed report on your neighborhood, contact The Alfriend Group today at (614) 395-1776 or visit www.alfriendgroup.com.