Monday, June 28, 2021
Tuesday, November 24, 2020
CENTRAL OHIO REAL ESTATE MARKET NEWS.......
CENTRAL OHIO HOUSING REPORT - OCTOBER 2020
Despite declining inventory, central Ohio experienced another significant increase in home sales last month. The 3,234 homes and condominiums sold was over 19 percent higher than October of 2019.
Year to date sales are now almost three percent higher than last year according to the Columbus REALTORS® Multiple Listing Service.
Inventory, on the other hand, has declined year over year for 110 of the last 117 months. Total inventory this week was just under 2,400 homes, less than half of what was listed for sale one year ago.
“Even though inventory has been declining for the better part of ten years, demand continues to escalate,“ said Andy Mills, 2020 President of Columbus REALTORS®. “People simply want to live in central Ohio. “
“We have jobs, services, activities, good schools, cultural experiences and an economy that’s about as healthy as you can find, given the events of this year.”
Record low mortgage interest rates continue to help buyers afford rising home prices. The average sales price of home during the month of October was $276,072, up 15.2 percent from October of 2019. The median sales price last month was $239,900 which was an increase of 17.0 percent from a year ago.
A person who purchased a typical home in the Columbus Metro Area 30 years ago would have gained about $233,668 as of the second quarter of 2020. Of the total wealth gain, 68% or $158,000 is from the price appreciation of 3.6% annually. Over a 10-year period, the wealth accumulation is $116,314, of which $90,700 or 78% are from the price appreciation.
SOURCE: October 2020 Housing Report
All housing reports
Article Provided by https://www.columbusrealtors.com/news/2020/11/19/1homepage/central-ohio-housing-report-october-2020/
Tuesday, October 6, 2020
Tuesday, September 29, 2020
Record home sales in August!
(Sept. 22, 2020 – Columbus Ohio) – The central Ohio housing market saw record home sales in August 2020 as almost 3,400 homes and condominiums changed hands, up almost five percent from last year and the highest number of sales documented for this late summer month.
The number of homes closed during the first three quarters of 2020 is now just 1.3 percent behind 2019 according to the Columbus REALTORS® Multiple Listing Service.
“Traditionally we experience a higher number of sales in August as buyers seek to move into a new home prior to the start of the school year,” said Andy Mills, 2020 Columbus REALTORS® President. “However, given that so many children are now attending school virtually, or in a hybrid situation, that opens up a broader time frame for families to pursue a move.”
Homes sold even more quickly than in months past during August. Homes under $350,000 sold in an average of 17 days. Homes sold between $350,000 and $500,000 took about 33 days to sell. Homes sold between $500,000 and $700,000 sold in an average of 52 days and homes over $700,000 took an average of 75 days to sell.
Although the number of residential homes and condominiums for sale during the month of August 2020 trailed the previous month by just 7.0 percent, the month was 47.0 percent less than the number for sale during August 2019.
There were 3,600 homes newly listed for sale last month providing motivated buyers additional inventory to consider.
As a result, there were almost 4,200 homes put into contract in August, a jump of 14.9 percent from 2019 and up slightly (0.8 percent) from July 2020.
For the second consecutive month, the average sale price exceeded the last list price. The average sale price in August was $279,134, up 12.8 percent from last year and the median sale price of $243,000 rose 13.8 percent over August 2019.
“Real estate has been, and remains, the foundation of wealth building for the middle class and a critical link in the flow of goods, services, and income for millions of Americans,” added Mills. “Accounting for nearly 15 percent of the Ohio gross state product, real estate is clearly a major driver of the U.S. economy.”
Current housing report – August 2020
All housing reports
Columbus REALTORS® is comprised of over 8,100 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 residential properties for sale, visit Homesnap.com.
To view commercial properties for sale or lease, visit COCIE.org.
Press Note: If you would like to interview a representative from Columbus REALTORS®, please contact the following:
Andy Mills, 2020 President – Elford Realty, LLC (614) 582-5521
Michael Jones, 2020 President-Elect – Coldwell Banker King Thompson (614) 206-5191
John Geha, CEO –
Record home sales in August!
(Sept. 22, 2020 – Columbus Ohio) – The central Ohio housing market saw record home sales in August 2020 as almost 3,400 homes and condominiums changed hands, up almost five percent from last year and the highest number of sales documented for this late summer month.
The number of homes closed during the first three quarters of 2020 is now just 1.3 percent behind 2019 according to the Columbus REALTORS® Multiple Listing Service.
“Traditionally we experience a higher number of sales in August as buyers seek to move into a new home prior to the start of the school year,” said Andy Mills, 2020 Columbus REALTORS® President. “However, given that so many children are now attending school virtually, or in a hybrid situation, that opens up a broader time frame for families to pursue a move.”
Homes sold even more quickly than in months past during August. Homes under $350,000 sold in an average of 17 days. Homes sold between $350,000 and $500,000 took about 33 days to sell. Homes sold between $500,000 and $700,000 sold in an average of 52 days and homes over $700,000 took an average of 75 days to sell.
Although the number of residential homes and condominiums for sale during the month of August 2020 trailed the previous month by just 7.0 percent, the month was 47.0 percent less than the number for sale during August 2019.
There were 3,600 homes newly listed for sale last month providing motivated buyers additional inventory to consider.
As a result, there were almost 4,200 homes put into contract in August, a jump of 14.9 percent from 2019 and up slightly (0.8 percent) from July 2020.
For the second consecutive month, the average sale price exceeded the last list price. The average sale price in August was $279,134, up 12.8 percent from last year and the median sale price of $243,000 rose 13.8 percent over August 2019.
“Real estate has been, and remains, the foundation of wealth building for the middle class and a critical link in the flow of goods, services, and income for millions of Americans,” added Mills. “Accounting for nearly 15 percent of the Ohio gross state product, real estate is clearly a major driver of the U.S. economy.”
Current housing report – August 2020
All housing reports
Columbus REALTORS® is comprised of over 8,100 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 residential properties for sale, visit Homesnap.com.
To view commercial properties for sale or lease, visit COCIE.org.
Press Note: If you would like to interview a representative from Columbus REALTORS®, please contact the following:
Andy Mills, 2020 President – Elford Realty, LLC (614) 582-5521
Michael Jones, 2020 President-Elect – Coldwell Banker King Thompson (614) 206-5191
John Geha, CEO –
Monday, June 22, 2020
Realtor.com Report: How Much Pets Matter When Buying a Home
Realtor.com Report: How Much Pets Matter When Buying a Home: More than 2,000 buyers who plan on purchasing a home in the next 12 months participated in the survey, which was conducted in March.
Tuesday, November 12, 2019
5031 Hidden View Drive Hilliard, OH 43026
Bedrooms: 3
Bathrooms: 2
Square feet: 1,690
Price: $217,900
For more information about this property, please contact Molly Cotter at (614) 451-0808 or molly.cotter@kingthompson.com. You can also text 5893709 to 67299 (Message and Data Rates May Apply, see terms and privacy policy).
See more listings at: http://mollycotter.cbintouch.com/
MLS ID: 219042391
Tuesday, October 22, 2019
REAL ESTATE UPDATE.....
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©2019 Columbus LLC. All Rights Reserved. Coldwell Banker King Thompson fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Operated by a subsidiary of NRT LLC. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Coldwell Banker, the Coldwell Banker Logo, Coldwell Banker Previews International, the Coldwell Banker Previews International logo and "Dedicated to Luxury Real Estate" are registered service marks owned by Coldwell Banker Real Estate LLC. Real estate agents affiliated with Coldwell Banker King Thompson are independent contractor sales associates and are not employees of Coldwell Banker King Thompson. Notice to independent contractors of Coldwell Banker King Thompson: As an independent contractor sales associate affiliated with Coldwell Banker King Thompson you have a variety of resources, tools, technologies and educational opportunities available to you. Company marketing materials are completely voluntary for you to use at your discretion. As an independent contractor sales associate, you are free to use what works for you to achieve the agreed upon results in your independent contractor agreement. Nothing in this document is intended to create an employment relationship. Any affiliation by you with the Company is intended to be that of an independent contractor sales associate. Notice regarding developments: the Developer's policy of continual improvements in design and construction requires that all designs, specifications, equipment, dimensions and prices be subject to change without prior notice.
Molly Cotter 3160 Kingsdale Center | Columbus, OH 43221 Unsubscribe
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Friday, September 20, 2019
CENTRAL OHIO REAL ESTATE MARKET NEWS....
Central Ohio Housing Report - August 2019
Homes for sale decreasing again
Last year, August marked the 92nd consecutive month of year over year declines in inventory. After seven months of increased supply, central Ohio now has five months of year over year inventory decreases under its belt again this year.
There were only 3,690 central Ohio homes and condos added to the market during the month of August which was 4.6 percent fewer than July and 3.4 percent behind the same month a year ago.
The added inventory brought the total number of homes and condos for sale in central Ohio up to 5,187 which was up 3.6 percent over the previous month, but down 4.5 percent from August 2018.
Given the low unemployment, wage growth and low interest rates, most economists today don’t foresee a recession in the near future. However, the housing market along with the economy is cyclical and a market correction is inevitable at some point.
“The shortage of homes for sale actually works in favor of the housing market,” said John Myers, 2019 President of Columbus REALTORS®. “Lower housing supply up against strong buyer demand as well as record home equity would cushion the effects of any recessionary activity we might see.”
There were 3,230 central Ohio homes and condos sold during the month of August which was down 0.6 percent compared to the same month last year and 3.1 percent lower than July 2019.
The average price of a home sold in central Ohio year to date (January through August) climbed to $243,558, an increase of 6.3 percent over August 2018. The median price of a home sold during the first eight months of the year was $211,000, up 8.2 percent from the previous year.
The median price of a home sold in central Ohio year to date (January through August) climbed to $211,000, up 8.2 percent from the previous year. The average price of a home sold during the first eight months of the year was $243,558, an increase of 6.3 percent over August 2018.
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.
“Although home values have been increasing steadily over the last several years, home owners still need to be realistic when pricing their home for sale,” added Myers. “Buyers may become wary of overpriced homes and could choose to wait rather than pay too much for a home today.”
Columbus REALTORS® is comprised of over 8,000 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 residential properties for sale, visit Homesnap.com.
To view commercial properties for sale or lease, visit COCIE.org.
Source: Columbus REALTORS®
Last year, August marked the 92nd consecutive month of year over year declines in inventory. After seven months of increased supply, central Ohio now has five months of year over year inventory decreases under its belt again this year.
There were only 3,690 central Ohio homes and condos added to the market during the month of August which was 4.6 percent fewer than July and 3.4 percent behind the same month a year ago.
The added inventory brought the total number of homes and condos for sale in central Ohio up to 5,187 which was up 3.6 percent over the previous month, but down 4.5 percent from August 2018.
Given the low unemployment, wage growth and low interest rates, most economists today don’t foresee a recession in the near future. However, the housing market along with the economy is cyclical and a market correction is inevitable at some point.
“The shortage of homes for sale actually works in favor of the housing market,” said John Myers, 2019 President of Columbus REALTORS®. “Lower housing supply up against strong buyer demand as well as record home equity would cushion the effects of any recessionary activity we might see.”
There were 3,230 central Ohio homes and condos sold during the month of August which was down 0.6 percent compared to the same month last year and 3.1 percent lower than July 2019.
The average price of a home sold in central Ohio year to date (January through August) climbed to $243,558, an increase of 6.3 percent over August 2018. The median price of a home sold during the first eight months of the year was $211,000, up 8.2 percent from the previous year.
The median price of a home sold in central Ohio year to date (January through August) climbed to $211,000, up 8.2 percent from the previous year. The average price of a home sold during the first eight months of the year was $243,558, an increase of 6.3 percent over August 2018.
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.
“Although home values have been increasing steadily over the last several years, home owners still need to be realistic when pricing their home for sale,” added Myers. “Buyers may become wary of overpriced homes and could choose to wait rather than pay too much for a home today.”
Columbus REALTORS® is comprised of over 8,000 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 residential properties for sale, visit Homesnap.com.
To view commercial properties for sale or lease, visit COCIE.org.
Source: Columbus REALTORS®
Friday, July 26, 2019
CENTRAL OHIO REAL ESTATE MARKET NEWS.....
Central Ohio Housing Report - June 2019
Homes sales pace increases!
(July 19, 2019) – Columbus OH) – Homes in central Ohio have been selling quickly this year but changed hands even faster in June as the days on market dropped to 23, with the more affordable homes selling in an average of 18 days.
Last month, those homes selling for $350,000 or less took an average of 18 days to sell. Homes between $350,000 and $500,000 took about 30 days to sell.
Homes in the $500,000 to $700,000 price range sold in an average of 53 days, and homes over $700,000 were on the market for an average of 72 days according to the Columbus REALTORS® Multiple Listing Service.
“In addition to price, location and condition of the home play a vital role in determining the demand and length of time it will take a property to sell,” said John Myers, 2019 President of Columbus REALTORS®. “And marketing strategies vary significantly based on all of these factors.”
There were 3,965 central Ohio homes and condominiums listed for sale in June 2019, which is a decrease of 2.4 percent from a year ago and down 9.8 percent from the previous month.
Total inventory at the end of June was 4,784, up 7.1 percent higher from May, but 2.6 percent behind the level of inventory seen in June of 2018.
There were 3,226 central Ohio homes and condos sold in June which was a decrease of 3.4 percent from the previous year and exactly the same as the previous month (May 2019). The 14,842 homes sold during the first half of 2019 marks a slight decrease (0.6 percent) from homes sold January through June of 2018.
The median price of a home sold in central Ohio this year (January through June) was $209,900 which is 9.0 percent higher than the first half of 2018. The average sales price of a home was $241,132 – up 6.4 percent from the first six months of 2018.
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 median sales price of a home sold in June was $228,000, up 7.5 percent from June of 2018. The average sales price of a home was $262,344 which was 7.2 percent higher than last year.
“Even with the price increases, low mortgage rates are keeping homes affordable. But demand is also keeping the pace highly competitive,” added Myers.
“That’s why using a REALTOR® is so important as they can help both buyers and sellers navigate this unique housing market.”
Columbus REALTORS® is comprised of over 8,000 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 residential properties for sale, visit Homesnap.com.
To view commercial properties for sale or lease, visit COCIE.org.
SOURCE: Columbus REALTORS®
(July 19, 2019) – Columbus OH) – Homes in central Ohio have been selling quickly this year but changed hands even faster in June as the days on market dropped to 23, with the more affordable homes selling in an average of 18 days.
Last month, those homes selling for $350,000 or less took an average of 18 days to sell. Homes between $350,000 and $500,000 took about 30 days to sell.
Homes in the $500,000 to $700,000 price range sold in an average of 53 days, and homes over $700,000 were on the market for an average of 72 days according to the Columbus REALTORS® Multiple Listing Service.
“In addition to price, location and condition of the home play a vital role in determining the demand and length of time it will take a property to sell,” said John Myers, 2019 President of Columbus REALTORS®. “And marketing strategies vary significantly based on all of these factors.”
There were 3,965 central Ohio homes and condominiums listed for sale in June 2019, which is a decrease of 2.4 percent from a year ago and down 9.8 percent from the previous month.
Total inventory at the end of June was 4,784, up 7.1 percent higher from May, but 2.6 percent behind the level of inventory seen in June of 2018.
There were 3,226 central Ohio homes and condos sold in June which was a decrease of 3.4 percent from the previous year and exactly the same as the previous month (May 2019). The 14,842 homes sold during the first half of 2019 marks a slight decrease (0.6 percent) from homes sold January through June of 2018.
The median price of a home sold in central Ohio this year (January through June) was $209,900 which is 9.0 percent higher than the first half of 2018. The average sales price of a home was $241,132 – up 6.4 percent from the first six months of 2018.
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 median sales price of a home sold in June was $228,000, up 7.5 percent from June of 2018. The average sales price of a home was $262,344 which was 7.2 percent higher than last year.
“Even with the price increases, low mortgage rates are keeping homes affordable. But demand is also keeping the pace highly competitive,” added Myers.
“That’s why using a REALTOR® is so important as they can help both buyers and sellers navigate this unique housing market.”
Columbus REALTORS® is comprised of over 8,000 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 residential properties for sale, visit Homesnap.com.
To view commercial properties for sale or lease, visit COCIE.org.
SOURCE: Columbus REALTORS®
Friday, May 31, 2019
CENTRAL OHIO REAL ESTATE MARKET NEWS....
Central Ohio Housing Report - April 2019
Homes selling quickly in central Ohio!
(May 21, 2019 – Columbus, OH) – It’s no secret that the central Ohio housing market is hot right now. As demand continues to outpace supply, homes and condominiums are selling in record time.
During the month of April, homes under $350,000 sold in an average of 26 days. Homes sold between $350,000 and $500,000 took about 48 days to sell. Homes in the $500,000 to $700,000 price range sold in an average of 65 days, and homes over $700,000 were on the market for an average of 83 days according to the Columbus REALTORS® Multiple Listing Service.
“Because we have so many buyers looking for affordable homes, those homes in the lower price ranges are selling more quickly,” said John Myers, 2019 Columbus REALTORS® President. “In fact, five years ago, homes under $350,000 took three times longer to sell than today!”
There were almost 500 more homes listed for sale in April compared to the previous month. The jump from 3,200 to 3,700 new listings fueled increased market activity from the buyers looking for homes in central Ohio right now.
As a result, there were over 23 percent more homes sold and over 13 percent more homes put in contract in April.
The top ten school districts with the highest home sales in April were Columbus, South-Western, Hilliard, Dublin, Olentangy, Westerville, Pickerington, Worthington, Newark and Upper Arlington. Seven out of those ten school districts averaged homes sales under $350,000.
“As market conditions are particularly advantageous for homes in the more affordable price range, those homeowners should seriously consider listing their home right now,” added Myers. “That would also help many folks looking to buy right now, especially our first-time home buyers trying hard to capture the dream of home ownership.”
The median sale price of a central Ohio home sold in April was $213,600, up 12.4 percent from one year ago. The average sale price was $242,063, up 7.4 percent from 2018.
Current housing report – March 2019
All housing reports
Columbus REALTORS® is comprised of almost 8,000 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 residential properties for sale, visit Homesnap.com.
To view commercial properties for sale or lease, visit COCIE.org.
(May 21, 2019 – Columbus, OH) – It’s no secret that the central Ohio housing market is hot right now. As demand continues to outpace supply, homes and condominiums are selling in record time.
During the month of April, homes under $350,000 sold in an average of 26 days. Homes sold between $350,000 and $500,000 took about 48 days to sell. Homes in the $500,000 to $700,000 price range sold in an average of 65 days, and homes over $700,000 were on the market for an average of 83 days according to the Columbus REALTORS® Multiple Listing Service.
“Because we have so many buyers looking for affordable homes, those homes in the lower price ranges are selling more quickly,” said John Myers, 2019 Columbus REALTORS® President. “In fact, five years ago, homes under $350,000 took three times longer to sell than today!”
There were almost 500 more homes listed for sale in April compared to the previous month. The jump from 3,200 to 3,700 new listings fueled increased market activity from the buyers looking for homes in central Ohio right now.
As a result, there were over 23 percent more homes sold and over 13 percent more homes put in contract in April.
The top ten school districts with the highest home sales in April were Columbus, South-Western, Hilliard, Dublin, Olentangy, Westerville, Pickerington, Worthington, Newark and Upper Arlington. Seven out of those ten school districts averaged homes sales under $350,000.
“As market conditions are particularly advantageous for homes in the more affordable price range, those homeowners should seriously consider listing their home right now,” added Myers. “That would also help many folks looking to buy right now, especially our first-time home buyers trying hard to capture the dream of home ownership.”
The median sale price of a central Ohio home sold in April was $213,600, up 12.4 percent from one year ago. The average sale price was $242,063, up 7.4 percent from 2018.
Current housing report – March 2019
All housing reports
Columbus REALTORS® is comprised of almost 8,000 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 residential properties for sale, visit Homesnap.com.
To view commercial properties for sale or lease, visit COCIE.org.
Tuesday, April 23, 2019
EXCITING CENTRAL OHIO REAL ESTATE MARKET NEWS....
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Wednesday, August 22, 2018
CENTRAL OHIO REAL ESTATE MARKET NEWS....
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