Although inventory remains a bit low, we are still seeing record home sales in Central Ohio!
Records continue to be broken as home sales averaged over 3,600 last quarter, and realtors sold almost 90% of new listings.
“Tight inventory over the past several years created a very competitive market causing some angst for many home buyers,” said Michael Jones, 2021 President, Columbus REALTORS®. “The increase in new listings has been a benefit and, as a result, we saw significant increases in homes that went into contract or have already sold.”
Last month, the average sales price of a home in Central Ohio was $301,572 which is up 8.5% from this time last year. Although it may seem cash sales are dominating this year, homes purchased with a conventional loan still dominate taking up 64% while cash sales only make up 20% of purchases in 2021.
“Cash sales have been credited as the reason many home buyers have been at a disadvantage in getting the winning contract,” said Jones. “However, this new data suggests that buyers seeking financing still dominate the lion’s share of home sales and can be successfully competitive.”
Consistent appreciation of residential real estate in Central Ohio makes investing in a primary residence and in investment properties a valuable asset to any financial portfolio.
So, if you are thinking of listing your home, or want to take advantage of low interest rates and buy or build your dream home, we will help you through these transitions and transactions in the safest ways possible.For a detailed report on your neighborhood, contact The Alfriend Group today at (614) 395-1776 or email us at email@example.com.