Housing Market Update
The weather is getting hot, and so is the Central Ohio real estate market! The Columbus area was ranked #1 hottest housing market in March by Realtor.com based on home listing activity and days on the market.
One thousand more homes were listed for sale in March than in February which generated increased interest and foot traffic from buyers actively seeking to purchase a home in central Ohio.
As a result, more homes were sold or put in contract in March according to the Columbus REALTORS® Multiple Listing Service.
“Even with the increase in new listings, we ended the month with roughly the same number of listings as we had in February,” said John Myers, 2019 Columbus REALTORS® President. “This means consumers bought as much as was added to the market.”
The median sale price of a home in central Ohio sold during the first quarter was $189,900, up 6.1 percent from one year ago. The average sale price was $221,372, up 3.9 percent from the first quarter of 2018.
“Given our strong job growth, low-interest rates and so many central Ohio buyers looking to buy a new home, we’re hoping to see new listings continue to increase as we head into the summer months,” added Myers.
So, if you are looking to sell your home in 2019, this is a great time. Buyers are still flooding the market, and sales prices continue to rise, yielding more proceeds!