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Wednesday, November 22, 2017
CENTRAL OHIO REAL ESTATE MARKET NEWS....
Friday, October 20, 2017
4855 Carrimore Lane Columbus, OH 43228
Bedrooms: 3
Bathrooms: 2
Square feet: 1,510
Price: $171,995
For more information about this property, please contact Molly Cotter at (614) 451-0808 or molly.cotter@kingthompson.com. You can also text 4667778 to 67299.
See more listings at: http://mollycotter.cbintouch.com/
MLS ID: 217038254
Wednesday, September 27, 2017
Central Ohio Real Estate Market News.....
Central Ohio Housing Report - August 2017
Homes are selling quickly in central Ohio
Homes spent an average of 27 days on the market during the month of August, which is one day less than July and eight days fewer than August 2016. This is yet another record low for central Ohio, according to the Columbus REALTORS® Multiple Listing Service.
“Homes have been selling in less than a month this summer” said 2017 Columbus REALTORS® President Mic Gordon “This is the fastest they’ve ever sold as buyers are wasting no time seizing an opportunity to purchase a home.”
There were 3,248 central Ohio homes and condos sold during the month of August, which is a 5.6 percent increase over July, but less than one percent higher than a year ago. However, the homes sold year to date (21, 623) is sitting at a record high for the first eight months of the year.
There were 3,740 central Ohio homes and condos listed during the month of August, a 10 percent increase from a year ago and the highest number of new listings for the month of August since 2008.
Even with the added listings, this left inventory at 5,444, which is just slightly less than the previous month and 13.2 percent below August 2016.
“Homeowners today know it’s a great time to sell a home and there’s still a shortage of inventory,” Gordon said. “We’re hoping the supply increases this fall to meet the pent-up demand.”
The average sales price of home during the month of August in central Ohio was $217,800, which is 6.7 percent more than August of 2016. The median sales price was $185,000, up 6.9 percent from a year ago.
Year to date (January through August), both the average sales price ($215,650) and median sales price ($182,000) are the highest on record.
Current housing report – August
All housing reports
Columbus REALTORS® is comprised of over 7,800 real estate professionals engaged in residential sales and leasing, commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development and more.
The Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Morrow, Pickaway and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Marion, Muskingum, Perry and Ross Counties.
To view commercial properties for sale or lease in central Ohio, visit www.COCIE.org.
To view residential properties for sale, visit www.realtor.com.
Homes spent an average of 27 days on the market during the month of August, which is one day less than July and eight days fewer than August 2016. This is yet another record low for central Ohio, according to the Columbus REALTORS® Multiple Listing Service.
“Homes have been selling in less than a month this summer” said 2017 Columbus REALTORS® President Mic Gordon “This is the fastest they’ve ever sold as buyers are wasting no time seizing an opportunity to purchase a home.”
There were 3,248 central Ohio homes and condos sold during the month of August, which is a 5.6 percent increase over July, but less than one percent higher than a year ago. However, the homes sold year to date (21, 623) is sitting at a record high for the first eight months of the year.
There were 3,740 central Ohio homes and condos listed during the month of August, a 10 percent increase from a year ago and the highest number of new listings for the month of August since 2008.
Even with the added listings, this left inventory at 5,444, which is just slightly less than the previous month and 13.2 percent below August 2016.
“Homeowners today know it’s a great time to sell a home and there’s still a shortage of inventory,” Gordon said. “We’re hoping the supply increases this fall to meet the pent-up demand.”
The average sales price of home during the month of August in central Ohio was $217,800, which is 6.7 percent more than August of 2016. The median sales price was $185,000, up 6.9 percent from a year ago.
Year to date (January through August), both the average sales price ($215,650) and median sales price ($182,000) are the highest on record.
Current housing report – August
All housing reports
Columbus REALTORS® is comprised of over 7,800 real estate professionals engaged in residential sales and leasing, commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development and more.
The Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Morrow, Pickaway and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Marion, Muskingum, Perry and Ross Counties.
To view commercial properties for sale or lease in central Ohio, visit www.COCIE.org.
To view residential properties for sale, visit www.realtor.com.
Friday, September 8, 2017
1818 Penwood Place Marysville, OH 43040
Bedrooms: 4
Bathrooms: 3
Square feet: 2,452
Price: $239,900
For more information about this property, please contact Molly Cotter at (614) 451-0808 or molly.cotter@kingthompson.com. You can also text 4576950 to 67299.
See more listings at: http://mollycotter.cbintouch.com/
MLS ID: 217033036
Thursday, August 31, 2017
CENTRAL OHIO REAL ESTATE MARKET NEWS....
Central Ohio Housing Report - July 2017
Central Ohio housing inventory continued to increase during the month of July to 5,498, an 8.3 percent increase over June, although still down 14.1 percent from July 2016. This left central Ohio with a 2.0 months supply of inventory at the current sales pace, according to the Columbus REALTORS® Multiple Listing Service.
“Although inventory is still down overall, the number of homes for sale has increased steadily in the last four months, which is not uncommon as the spring and summer months usually see the highest housing activity,” said 2017 Columbus REALTORS® President Mic Gordon. “Although slow and steady, the influx in inventory allows potential buyers to have more options to choose from. I’m optimistic that more inventory will be added to the market for the rest of the year.”
Home prices continue to set records here in central Ohio. The median sales price was $194,900, up 8.9 percent over July 2016 and the highest on record for any single month. The average sales price of a home in July was $227,572, a 7.3 percent increase from the same month a year ago and the second highest on record for a single month.
The median is the midpoint where half the homes sell for less, while half sell for more. The average sales price is the total volume divided by the number of homes sold.
There were 3,051 central Ohio homes and condos sold during the month of July, which is 3.9 percent lower than the same month a year ago and a 10.3 percent decline over the previous month.
Homes spent an average of 28 days on the market in the month of July, which is six days less than July 2016 and yet another record low for central Ohio.
“This is the fewest number of days homes have ever spent on the market,” Gordon said. “Homes are selling about as fast as they come onto the market!”
According to the latest Housing Market Confidence Index by the Ohio Association of REALTORS®, 87 percent of central Ohio REALTORS® expect prices to rise over the next year, while 13 percent expect prices to level.
When asked how many days on average their listings stayed on the market, 26 percent said 11-20 days, 29 percent said 21-50 days, and just under half (45 percent) said their listing sold in 10 days or less.
Current housing report – July 2017
All housing reports
Columbus REALTORS® is comprised of over 7,800 real estate professionals engaged in residential sales and leasing, commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development and more.
The Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Morrow, Pickaway and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Marion, Muskingum, Perry and Ross Counties.
To view commercial properties for sale or lease in central Ohio, visit www.COCIE.org.
To view residential properties for sale, visit www.Realtor.com.
“Although inventory is still down overall, the number of homes for sale has increased steadily in the last four months, which is not uncommon as the spring and summer months usually see the highest housing activity,” said 2017 Columbus REALTORS® President Mic Gordon. “Although slow and steady, the influx in inventory allows potential buyers to have more options to choose from. I’m optimistic that more inventory will be added to the market for the rest of the year.”
Home prices continue to set records here in central Ohio. The median sales price was $194,900, up 8.9 percent over July 2016 and the highest on record for any single month. The average sales price of a home in July was $227,572, a 7.3 percent increase from the same month a year ago and the second highest on record for a single month.
The median is the midpoint where half the homes sell for less, while half sell for more. The average sales price is the total volume divided by the number of homes sold.
There were 3,051 central Ohio homes and condos sold during the month of July, which is 3.9 percent lower than the same month a year ago and a 10.3 percent decline over the previous month.
Homes spent an average of 28 days on the market in the month of July, which is six days less than July 2016 and yet another record low for central Ohio.
“This is the fewest number of days homes have ever spent on the market,” Gordon said. “Homes are selling about as fast as they come onto the market!”
According to the latest Housing Market Confidence Index by the Ohio Association of REALTORS®, 87 percent of central Ohio REALTORS® expect prices to rise over the next year, while 13 percent expect prices to level.
When asked how many days on average their listings stayed on the market, 26 percent said 11-20 days, 29 percent said 21-50 days, and just under half (45 percent) said their listing sold in 10 days or less.
Current housing report – July 2017
All housing reports
Columbus REALTORS® is comprised of over 7,800 real estate professionals engaged in residential sales and leasing, commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development and more.
The Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Morrow, Pickaway and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Marion, Muskingum, Perry and Ross Counties.
To view commercial properties for sale or lease in central Ohio, visit www.COCIE.org.
To view residential properties for sale, visit www.Realtor.com.
Friday, June 30, 2017
Real Estate Market News....
12M Consumers May Get Credit-Score Boost
The three largest credit-reporting agencies will begin cleaning up credit reports in July, which could help lift the credit scores of about 12 million consumers.
In a survey by the Federal Trade Commission, one in four people say they spot errors in their credit reports, most commonly concerning tax liens and civil judgments. Up to half of tax lien data on a credit report is inaccurate or incomplete, says Eric J. Ellman, senior vice president for public policy and legal affairs at the Consumer Data Industry Association. Civil judgments—which means a court has ruled a person owes money—also tend to be ripe with errors or omissions on a credit report, experts say. Consumers can dispute the errors, but the process can be cumbersome.
Beginning July 1, Equifax, Experian, and TransUnion will automatically exclude tax lien and civil judgment records from credit reports if they are missing a person’s name, address, Social Security number, or date of birth. Claims that do contain this key information, however, will remain on credit reports.
Six percent of Americans with a credit score—or 12 million— likely will see their score go up once the new policy takes effect. About 11 million could see an increase of about 20 points. “A lot of people who have liens or judgments against them already have crummy credit to begin with,” says Keith Gumbinger, vice president at HSH.com, a mortgage resource website. “A 10- or 20-point increase isn’t going to make a difference for a lot of borrowers.”
But borrowers who are on the cusp of qualifying for a home loan may stand to benefit the most. For example, Gumbinger says, a would-be buyer with a credit score of 570 who receives a 10-point uptick may be able to qualify for an FHA loan. FHA loans require a minimum 580 credit score.
Source: “Have a Bad Credit Score? It Could Soon Get Better – But Is it Enough to Buy a Home?” realtor.com® (June 22, 2017)
In a survey by the Federal Trade Commission, one in four people say they spot errors in their credit reports, most commonly concerning tax liens and civil judgments. Up to half of tax lien data on a credit report is inaccurate or incomplete, says Eric J. Ellman, senior vice president for public policy and legal affairs at the Consumer Data Industry Association. Civil judgments—which means a court has ruled a person owes money—also tend to be ripe with errors or omissions on a credit report, experts say. Consumers can dispute the errors, but the process can be cumbersome.
Beginning July 1, Equifax, Experian, and TransUnion will automatically exclude tax lien and civil judgment records from credit reports if they are missing a person’s name, address, Social Security number, or date of birth. Claims that do contain this key information, however, will remain on credit reports.
Six percent of Americans with a credit score—or 12 million— likely will see their score go up once the new policy takes effect. About 11 million could see an increase of about 20 points. “A lot of people who have liens or judgments against them already have crummy credit to begin with,” says Keith Gumbinger, vice president at HSH.com, a mortgage resource website. “A 10- or 20-point increase isn’t going to make a difference for a lot of borrowers.”
But borrowers who are on the cusp of qualifying for a home loan may stand to benefit the most. For example, Gumbinger says, a would-be buyer with a credit score of 570 who receives a 10-point uptick may be able to qualify for an FHA loan. FHA loans require a minimum 580 credit score.
Source: “Have a Bad Credit Score? It Could Soon Get Better – But Is it Enough to Buy a Home?” realtor.com® (June 22, 2017)
Friday, May 26, 2017
CENTRAL OHIO REAL ESTATE MARKET NEWS...
Central Ohio Housing Report - April 2017
“We continue to see increased buyer presence which is fueling home price escalation,” said 2017 Columbus REALTORS® President Mic Gordon. “With this kind of demand, some homes are even selling for higher than list price.”
There were 3,543 central Ohio homes and condos added to the market in April, which is a 5.1 percent increase over March, although a 10 percent decline over the same month a year ago.
This left inventory at 4,338 which was almost three percent higher than the previous month, but is still just over 19 percent lower than a year ago and has fallen year-over-year for 75 straight months. Unsold inventory is at a 1.6-month supply at the current sales pace (unchanged from the last three months).
The 2,479 central Ohio homes and condos sold during the month of April slipped 2.1 percent from the previous month, and 10.9 percent from April 2016.
“Last month marked the first dip in home sales in nine months,” Gordon said. “There’s little doubt that the number of home sales would have been higher had we had more inventory.”
Homes spent an average of 40 days on the market in April, which is 6 days fewer than March and 12 days less than April 2016.
The averages sale price of a home in April was $215,246, an increase of 7.1 percent over the same month a year ago and 5.6 percent above March.
“If you’ve considered putting your home on the market, now is the time to do so as the warmer temperatures and longer daylight hours stimulate even greater buyer activity,” added Gordon.
According to the latest Housing Market Confidence Index by the Ohio Association of REALTORS®, 98 percent of central Ohio REALTORS® said they would describe the current housing market as moderate to strong and 95 percent expect home prices to rise over the next year.
When asked about reasons transactions haven’t closed in the past year, 53 percent cited inspection issues and 30 percent cited issues rising from appraisals.
Current housing report – April 2017
All housing reports
Columbus REALTORS® is comprised of over 7,600 real estate professionals engaged in residential sales and leasing, commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development and more.
The Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Morrow, Pickaway and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Marion, Muskingum, Perry and Ross Counties.
To view commercial properties for sale or lease in central Ohio, visit www.COCIE.org.
To view residential properties for sale, visit www.Realtor.com.
Central Ohio home prices rising
The median list price of new listings for central Ohio homes and condos during the month of April was $199,950, an 8.1 percent increase over April 2016 and a 1.0 percent increase from March. This is a new record high according to the Columbus REALTORS® Multiple Listing Service.“We continue to see increased buyer presence which is fueling home price escalation,” said 2017 Columbus REALTORS® President Mic Gordon. “With this kind of demand, some homes are even selling for higher than list price.”
There were 3,543 central Ohio homes and condos added to the market in April, which is a 5.1 percent increase over March, although a 10 percent decline over the same month a year ago.
This left inventory at 4,338 which was almost three percent higher than the previous month, but is still just over 19 percent lower than a year ago and has fallen year-over-year for 75 straight months. Unsold inventory is at a 1.6-month supply at the current sales pace (unchanged from the last three months).
The 2,479 central Ohio homes and condos sold during the month of April slipped 2.1 percent from the previous month, and 10.9 percent from April 2016.
“Last month marked the first dip in home sales in nine months,” Gordon said. “There’s little doubt that the number of home sales would have been higher had we had more inventory.”
Homes spent an average of 40 days on the market in April, which is 6 days fewer than March and 12 days less than April 2016.
The averages sale price of a home in April was $215,246, an increase of 7.1 percent over the same month a year ago and 5.6 percent above March.
“If you’ve considered putting your home on the market, now is the time to do so as the warmer temperatures and longer daylight hours stimulate even greater buyer activity,” added Gordon.
According to the latest Housing Market Confidence Index by the Ohio Association of REALTORS®, 98 percent of central Ohio REALTORS® said they would describe the current housing market as moderate to strong and 95 percent expect home prices to rise over the next year.
When asked about reasons transactions haven’t closed in the past year, 53 percent cited inspection issues and 30 percent cited issues rising from appraisals.
Current housing report – April 2017
All housing reports
Columbus REALTORS® is comprised of over 7,600 real estate professionals engaged in residential sales and leasing, commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development and more.
The Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Morrow, Pickaway and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Marion, Muskingum, Perry and Ross Counties.
To view commercial properties for sale or lease in central Ohio, visit www.COCIE.org.
To view residential properties for sale, visit www.Realtor.com.
Source: Columbus REALTORS®
Sunday, April 30, 2017
CENTRAL OHIO REAL ESTATE MARKET NEWS....
Central Ohio Housing Report - March 2017
Homes continue to sell quickly
There were 2,531 central Ohio homes and condos sold during the month of March, a solid 50.8 percent increase over February and a 3.9 percent increase over the same month a year ago.
This was the highest number of home sales on record for the month of March as well as the highest sales for the 1st quarter according to the Columbus REALTORS® Multiple Listing Service.
“"The record home sales that we're seeing is a direct reflection of the strong job growth here locally as well as low interest rates for mortgages," said 2017 Columbus REALTORS® President Mic Gordon. “Home sales could have been even stronger, but inventory limited growth.”
There were 3,372 central Ohio homes and condos added to the market in March, which is a 4.1 percent decrease from March 2016 and the lowest number of new listings recorded for the month of March, when inventory traditionally begins to climb.
“We keep thinking the inventory couldn’t get any lower – but it continues to decline,” Gordon said. “Even with the addition of new listings, inventory dropped to just over 4,200 at the end of March making it the 74th straight month of year over year decreases.”
During the month of March, central Ohio homes and condos spent an average of 46 days on the market, which is 6 days fewer than February and 13 days less than March 2016.
The averages sale price of a home in March was $203,924, up 6.8 percent from one year ago and 7 percent from February. The median sales price was $170,000 a 4.3 increase over March 2016.
The average sales price is the total volume divided by the number of homes sold. The median is the midpoint -- half the homes sell for less, while half sell for more.
“The tight supply of for-sale homes is helping to push prices upward,” said Gordon. “Homeowner should give serious consideration to selling under these advantageous conditions.”
According to the latest Housing Market Confidence Index by the Ohio Association of REALTORS®, 98 percent of central Ohio REALTORS® said they would describe the current housing market as moderate to strong.
When asked how they would describe their level of early spring sales activity, 45 percent said they’re experiencing higher than normal activity, 33 percent said they’re experiencing normal activity, and 22 percent said they’re experiencing lower than normal activity.
Current housing report – March 2017
All housing reports
Columbus REALTORS® is comprised of over 7,500 real estate professionals engaged in residential sales and leasing, commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development and more.
The Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Morrow, Pickaway and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Marion, Muskingum, Perry and Ross Counties.
To view commercial properties for sale or lease in central Ohio, visit www.COCIE.org.
To view residential properties for sale, visit www.Realtor.com.
There were 2,531 central Ohio homes and condos sold during the month of March, a solid 50.8 percent increase over February and a 3.9 percent increase over the same month a year ago.
This was the highest number of home sales on record for the month of March as well as the highest sales for the 1st quarter according to the Columbus REALTORS® Multiple Listing Service.
“"The record home sales that we're seeing is a direct reflection of the strong job growth here locally as well as low interest rates for mortgages," said 2017 Columbus REALTORS® President Mic Gordon. “Home sales could have been even stronger, but inventory limited growth.”
There were 3,372 central Ohio homes and condos added to the market in March, which is a 4.1 percent decrease from March 2016 and the lowest number of new listings recorded for the month of March, when inventory traditionally begins to climb.
“We keep thinking the inventory couldn’t get any lower – but it continues to decline,” Gordon said. “Even with the addition of new listings, inventory dropped to just over 4,200 at the end of March making it the 74th straight month of year over year decreases.”
During the month of March, central Ohio homes and condos spent an average of 46 days on the market, which is 6 days fewer than February and 13 days less than March 2016.
The averages sale price of a home in March was $203,924, up 6.8 percent from one year ago and 7 percent from February. The median sales price was $170,000 a 4.3 increase over March 2016.
The average sales price is the total volume divided by the number of homes sold. The median is the midpoint -- half the homes sell for less, while half sell for more.
“The tight supply of for-sale homes is helping to push prices upward,” said Gordon. “Homeowner should give serious consideration to selling under these advantageous conditions.”
According to the latest Housing Market Confidence Index by the Ohio Association of REALTORS®, 98 percent of central Ohio REALTORS® said they would describe the current housing market as moderate to strong.
When asked how they would describe their level of early spring sales activity, 45 percent said they’re experiencing higher than normal activity, 33 percent said they’re experiencing normal activity, and 22 percent said they’re experiencing lower than normal activity.
Current housing report – March 2017
All housing reports
Columbus REALTORS® is comprised of over 7,500 real estate professionals engaged in residential sales and leasing, commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development and more.
The Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Morrow, Pickaway and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Marion, Muskingum, Perry and Ross Counties.
To view commercial properties for sale or lease in central Ohio, visit www.COCIE.org.
To view residential properties for sale, visit www.Realtor.com.
Friday, March 31, 2017
CENTRAL OHIO REAL ESTATE MARKET NEWS...
Central Ohio Housing Report - February 2017
Housing inventory drops further in February
(Mar. 22, 2017 – Columbus, OH) – There were 2,528 central Ohio homes and condos added to the market in February, which is a 16.5 percent increase over January, although a 3.6 percent dip from February 2016. This leaves inventory at 4,286, which is a whopping 21.1 percent decrease from the same month last year according to the Columbus REALTORS® Multiple Listing Service.
“If you thought inventory couldn’t possibly get any lower, it definitely did,” Gordon said. “However, spring is just around the corner and there are bound to be more homes hitting the market as the temperatures begin to rise.”
There were 1,678 central Ohio homes and condos sold during the month of February, a 5.3 percent increase from January and a .5 percent rise over the same month a year ago.
Central Ohio saw 2,754 homes go into contract during the month of February, up 11.4 percent from the previous month although down 9 percent from February 2016.
A pending sale or a sale “in contract” is when the buyer and seller agree on terms of the sale of a home and have a signed purchase and sale agreement, but have yet to close and be recorded as such.
The average sales price of a home in February was $190,659, up 3.4 percent from last year. The median sales price was $161,900 a 5.1 percent increase over February 2016.
“The upside down or under water remnants of the Great Housing Recession are fewer and fewer with each passing month as values continue to climb and mortgage balances continue to be paid down over time,” Gordon said. “If you were in that position with your home and want to know if this market has changed your circumstance, call your REALTOR® and find out!”
During the month of February, central Ohio homes and condos spent an average of 52 days on the market, this is eight days fewer than a year ago and just two days longer than January.
Seventy-five percent of central Ohio REALTORS® said they’re noticing a slight to substantial increase in the number of millennials expressing interest in purchasing a home, according to the latest Housing Market Confidence Index by the Ohio Association of REALTORS
When asked specifically about the low number of entry level homes available for sale, 33 percent said it’s a slight hindrance and over half (54 percent) said the low inventory is substantially hindering the millennials’ ability to purchase a home.
“Millennials are a large segment of the population and, if they don’t have an adequate selection of affordable housing to choose from, that’s definitely a problem we need to focus on solving,” Gordon said.
Current housing report – February 2017
All housing reports
Columbus REALTORS® is comprised of over 7,600 real estate professionals engaged in residential sales and leasing, commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development and more.
The Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Morrow, Pickaway and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Marion, Muskingum, Perry and Ross Counties.
To view commercial properties for sale or lease in central Ohio, visit www.COCIE.org.
To view residential properties for sale, visit www.Realtor.com.
(Mar. 22, 2017 – Columbus, OH) – There were 2,528 central Ohio homes and condos added to the market in February, which is a 16.5 percent increase over January, although a 3.6 percent dip from February 2016. This leaves inventory at 4,286, which is a whopping 21.1 percent decrease from the same month last year according to the Columbus REALTORS® Multiple Listing Service.
“If you thought inventory couldn’t possibly get any lower, it definitely did,” Gordon said. “However, spring is just around the corner and there are bound to be more homes hitting the market as the temperatures begin to rise.”
There were 1,678 central Ohio homes and condos sold during the month of February, a 5.3 percent increase from January and a .5 percent rise over the same month a year ago.
Central Ohio saw 2,754 homes go into contract during the month of February, up 11.4 percent from the previous month although down 9 percent from February 2016.
A pending sale or a sale “in contract” is when the buyer and seller agree on terms of the sale of a home and have a signed purchase and sale agreement, but have yet to close and be recorded as such.
The average sales price of a home in February was $190,659, up 3.4 percent from last year. The median sales price was $161,900 a 5.1 percent increase over February 2016.
“The upside down or under water remnants of the Great Housing Recession are fewer and fewer with each passing month as values continue to climb and mortgage balances continue to be paid down over time,” Gordon said. “If you were in that position with your home and want to know if this market has changed your circumstance, call your REALTOR® and find out!”
During the month of February, central Ohio homes and condos spent an average of 52 days on the market, this is eight days fewer than a year ago and just two days longer than January.
Seventy-five percent of central Ohio REALTORS® said they’re noticing a slight to substantial increase in the number of millennials expressing interest in purchasing a home, according to the latest Housing Market Confidence Index by the Ohio Association of REALTORS
When asked specifically about the low number of entry level homes available for sale, 33 percent said it’s a slight hindrance and over half (54 percent) said the low inventory is substantially hindering the millennials’ ability to purchase a home.
“Millennials are a large segment of the population and, if they don’t have an adequate selection of affordable housing to choose from, that’s definitely a problem we need to focus on solving,” Gordon said.
Current housing report – February 2017
All housing reports
Columbus REALTORS® is comprised of over 7,600 real estate professionals engaged in residential sales and leasing, commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development and more.
The Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Morrow, Pickaway and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Marion, Muskingum, Perry and Ross Counties.
To view commercial properties for sale or lease in central Ohio, visit www.COCIE.org.
To view residential properties for sale, visit www.Realtor.com.
SOURCE: The Columbus REALTORS®, 3/22/2017
Wednesday, February 22, 2017
CENTRAL OHIO REAL ESTATE MARKET NEWS....
Source: Copyright © 2017 Columbus REALTORS®, All rights reserved.
Mailing address is:
Columbus REALTORS®
2700 Airport Drive, Columbus, OH
Columbus, OH 43219
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Wednesday, January 25, 2017
CENTRAL OHIO REAL ESTATE MARKET NEWS....
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