Central Ohio Real Estate Update: July 2021

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Housing Market Update

With homes selling so quickly, there is still time to get one on the market and sold before the kids head back to school!

In June, a record number of sales were sold in Central Ohio due to a large influx of new listings. 3,644 homes sold last month which is a 21.3% increase from May and a 15.6% increase from this time last year.

Total home sales for the first half of 2021 is up 12.6% from last year, setting a record with 16,033 closings. 

Last month, the average sales price of a home in Central Ohio was $316,207  which is up 14.1% from last June. Year to date, the average sales price is $292,860, a 15.9% increase from the first half of 2020.

Another record was set last month, with homes selling in an average of 11 days.

“Although homes under $350,000 have always been in high demand, we’re seeing significantly increased interest for homes in the higher price ranges this year,” added Jones. “And as demand is higher, most homes are selling more quickly.”

“Ten years ago, it took almost 100 days to sell a home priced between $350,000 and $500,000. Last month, it took an average of ten days!”

Buyers continue to welcome the increase in new inventory, but competition still remains stiff, and bidding wars are still a common occurrence in this seller’s market.

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 info@alfriendgroup.com.

Featured Listings:

5460-5462 Ivyhurst Dr. in Columbus
1700 E. Lakeview Ave. in Columbus

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