Central Ohio Real Estate Update: March 2017

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Central Ohio Real Estate Update: March 2017

For more information on Central Ohio real estate, be sure to visit our website, www.alfriendgroup.com!

Central Ohio Housing Market Update

2017

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Warm weather and the start of Spring typically mark the beginning of real estate season. As people emerge from their winter hibernation, homes will inevitably sell faster and open houses will become much busier. But is this year going to be different? After all, home sales appear to be slowing. The double digit growth rate of 2016 is down to just 1% now, but this doesn’t necessarily mean the market is slowing down. In fact, it may mean the exact opposite!
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As I’ve written before, Columbus is one of the fastest growing cities in America, and we expect the population to grow by 50% over the next 20 years. The basic rules of supply and demand state that more buyers lead to more demand, which ultimately leads to a healthier real estate market. So why have home sales been stagnant in 2017?
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The answer is low inventory. This is a term you may have heard before, and it simply refers to the number of homes available for sale at any given time. At this time last year, there were over 5,400 homes for sale, but this year there are only 4,300 – a 21% decrease. In Layman’s terms, this means people are moving to Columbus much faster than we originally expected. The reason more homes aren’t selling is because there simply aren’t enough homes available to buy. This explains why homes are selling faster and for more money than they ever have before. In areas such as Upper Arlington, Grandview, and Worthington, for instance, homes are typically selling in less than one week.
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For sellers, this is the optimal time to list your home in order to get top dollar. For buyer’s, however, it can be very frustrating, as homes are selling faster than you can keep up with. When hiring a Realtor, be sure to find someone who is very responsive, and can get you into a new listing as soon as it comes on the market. Here at the Alfriend Group, we pride ourselves in customer service. If you ever need to see a home, just call or request a showing online at www.alfriendgroup.com/showings.
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For a detailed report on your neighborhood, contact The Alfriend Group today at (614) 395-1776 or email us at info@alfriendgroup.com.

New Listings!

5 bedrooms, 3.5 baths, 4762 SF
$575,000
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4 bedrooms, 2.5 baths, 4762 SF
$575,000
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5 bedrooms, 3.5 baths, 2656 SF
$404,900

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.

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