Central Ohio Real Estate Update: January 2018

It’s officially 2018, and that means it’s time for the year-end real estate review! But first, let’s take a brief look at the month of December, which proved to be a nice close to an already stellar year!

In December alone, home prices were up 10% over 2016, and average days on market were down by 7 (or 16%). Not a bad finish!

But despite this strong showing, home inventory remained extremely low. There’s currently a 1.4 month supply of homes for sale. This means, at the current rate, if no more homes were listed, it would take 1.4 months to sell everything. To put this in perspective, a balanced market is usually around a 6 months supply.

With all that said, there’s a lot to be grateful for. The Columbus real estate market performed exceptionally last year, which is a great sign for the overall health of our city and our economy. Here are just a few noteworthy statistics from 2017:

  • Most Homes Sold in 1 Year: 32,218 (+2% from 2016)
  • Highest Average Sale Price: $214,802 (+6% from 2016)
  • Average Price per Square Foot: $116 (+7% from 2016)
  • Average Days on Market: 35 (-21% from 2016)

Even though we’re only 3 weeks in, 2018 is off to a good start. Home prices are still high, and it looks like Central Ohio will remain a hot market for the foreseeable future. And maybe, if we’re lucky, Amazon will select Columbus as the location for HQ2…we made the short list after all!

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

About The Alfriend Group

Kyle Alfriend has been selling and marketing homes for over 20 years, successfully selling and buying homes in a variety of market conditions. He has sold over 1,200 homes, totaling over $250 million in homes sales. In Dublin, he has sold more homes that anyone ever. He has represented the areas largest builders, built his own homes, and owns and manages several investment properties. He has been awarded the "Top 10 M.A.M.E. Award (Major Achievements in Marketing Excellence) by the building and Realtor associations every year since 1993. He believes that everyone deserves the very best in knowledge, experience, and integrity when buying or selling their home. The Alfriend Group was started 5 years ago as a real estate team of professionals, specializing in buying/selling homes, property management, and real estate investments. For more information, call us today at (614) 395-1776.

Central Ohio Real Estate, Columbus Ohio, Real Estate News

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