Stabilizing mortgage rates have been a key factor in Central Ohio continuing its consistent growth. The inventory numbers are improving, but high demand continues to outpace the supply. As a result, we hit a new high in the median sales price of $320,000. This surge represents a 6.1% growth, surpassing theprevious highest monthly median sales […]
Housing Market Update Rising interest rates and inflation are beginning to take their toll on the local real estate market! Last month, homes sales dropped 9.7% while pending sales were down 14% suggesting July sales will also be down from last year. “Higher interest rates and inflation along with escalating home prices are all working […]
Whether you’ve just moved across town or across the country, there’s still a lot to do before you can put your feet up in your new home. Try not to put off these move-in essentials. As exhausted as you may be, it’s important to tackle this checklist as soon as possible so you can avoid […]
Housing Market Update Despite an increase in interest rates, home sales hit a record high in May! In 2021 the average sales price in May was $315,127 while, last month, the average sales price reached $353,116, a 12.1% increase. Furthermore, fewer homes in Central Ohio required a change in the list price compared to last year. […]
Housing Market Update Continued low inventory combined with rising interest rates is taking its toll on the local housing market! In 2021 buyers purchased 83.2% of available homes. So far in 2022, inventory is 11.6% higher than last spring because buyers are now only purchasing 80% of the homes available. Interest rates on a 30-year fixed rate have […]
Homeowners at or over 62 years of age may qualify for a reverse mortgage. It allows you to use the equity in your home to cover expenses by putting cash in your pocket. You can also use a reverse mortgage to secure a new line of credit. Reversal mortgages do not come with monthly payments […]
Housing Market Update The increase in sale prices combined with the increase interest rates is already impacting overall home sales in Central Ohio! Over the last couple of years, nine out of ten homes listed were sold. 91.3% of homes listed were sold in 2021, and the average was 92.8% in 2020; however, for the […]
Housing Market Update Central Ohio continues to be in the midst of one of the most competitive housing markets in history! The escalating intensity of bidding wars has led to more and more cash buyers entering the market. Already in these first couple of months of 2022, the share of cash buyers jumped from 21% […]
When many of us think about the idea of relocating for a job, we often imagine a stressful endeavor where we have to pick up everything and move at the last minute and all of the issues that come along with it, but it doesn’t have to be that way. With smart planning and tactics, […]
