Housing Market Update
Central Ohio inventory takes a big jump in January. 2,181 homes were added to the market last month which is a 55% increase from December, and a 13.1% increase from this time last year.
“Even with a 55 percent increase in homes listed last month, we have strong demand for more homes and condominiums,” said 2019 Columbus REALTORS® President John Myers. “With prices up, if you are considering selling your home, now is the time to start that process by speaking with a REALTOR®.”
Prices, also, continue to increase. The median price of a home sold in January was $181,500, an increase of 5.2 percent from a year ago. The average sale price was $208,512, an increase of 1.3 percent over January 2018.
“Homeowners waiting for warmer months to list their home are missing out on opportunities to sell today,” added Myers. “Buyers are out there – and they’re not waiting for summer to buy.”
According to the latest Housing Market Confidence Index (by the Ohio Association of REALTORS®), 88 percent of central Ohio REALTORS® describe the current housing market as moderate to strong and 76 percent expect home prices to rise in 2019.
So, if you are looking to sell your home in 2019, this is a great time. Buyers are flooding the market, and sales prices continue to rise, yielding more proceeds!
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