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 […]
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% […]
Housing Market Update Continued low inventory and fervent buyer demand led to record sales prices again in 2021! Pandemic-induced changes to housing needs and preferences is still highly impacting the Central Ohio real estate market. Such a disproportionate amount of homes on the market compared to the number of buyers led to another year of […]
Housing Market Update Despite increased sales prices and low inventory, a new home sales record was set for the month of November! In Central Ohio, 33,548 homes sold from January 2021 – November 2021, which is a 9.3% increase from last year, and already beats total homes sold for the entire year of 2020. Just […]
Housing Market Update With a further drop in inventory last month, home sales and prices continued to show healthy increases! There were 3,395 home sales in Central Ohio in October, a 5% increase year-to-date, from last year, and indicating a new annual record. However, there was another dip in overall inventory with only 3,336 homes […]
Housing Market Update This summer, low inventory combined with high buyer demand, led to more homes selling for over list price than under it! Three out of every five homes sold in August sold for more than the home was listed for according to Columbus REALTORS®. “With such tight inventory, many buyers continue making the […]
Housing Market Update With demand still outweighing supply, it continues to be a great time to list your home for sale! Although new listings have increased by 20% for the previous four months causing double digit increases in both listings and home sales, things were a little different last month. There was a 21% increase […]
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 […]
