Saturday, March 31, 2018
Tuesday, January 30, 2018
CENTRAL OHIO REAL ESTATE MARKET NEWS....
Central Ohio Housing Report - December 2017
2017 was hottest housing market in history for central Ohio
There were 32,218 homes and condos sold in central Ohio in 2017, which is 1.7 percent higher than 2016 and the highest number of homes sold on record for a single year, according to the Columbus REALTORS® Multiple Listing Service.
2017 also saw record high home prices. The average sales price of a home last year was $214,802, which is 6.3 percent above the previous year. The median sales price of a home in 2017 was $181,500, which was 6.8 percent higher than 2016.
During the month of December, the average sales price of a home ($214,735) was 10.0 percent higher than the same month a year ago.
“The healthy economy of 2017 clearly produced many buyers who were persistent in the pursuit of home ownership,” said 2018 Columbus REALTORS® President Sara Walsh.
“Sales prices have continued to steadily inch up month after month, leaving us with one of the strongest housing markets on record.”
There were 1,493 central Ohio homes and condos listed during the month of December, a 1.2 percent increase over the same month a year ago, although a 29 percent drop from November.
The resulting inventory of homes for sale at the end of December was 3,876, which is 16 percent lower than November and the lowest on record in over 20 years. This marks the 83rd consecutive month of year over year declines in inventory.
The declines in inventory left central Ohio with a 1.4 months supply of inventory at the current sales pace, which is another all-time low. This means that, if no more homes were added to the market, it would take less than 1.5 months to sell all the homes and condos currently for sale in central Ohio. (A balanced market is usually around 6.5 months supply.)
“It’s not unusual for listings to taper off during the holidays,” Walsh said. “We’ll begin to see an uptick as spring approaches, if not sooner.”
Given the shortage of inventory, it comes as no surprise that homes sold more quickly in 2017. On average, homes spent only 35 days on the market last year which was 11 days fewer than 2016.
“More sellers should feel ready and eager to list in 2018,” adds Walsh. “Economic indicators such as unemployment rates and consumer confidence are at healthy levels, and sellers currently hold the keys in the buyer-seller relationship.”
According to the latest Housing Market Confidence Index by the Ohio Association of REALTORS®, 95 percent of central Ohio REALTORS® would describe the current housing market as moderate to strong. Over the next year, 95 percent of respondents said they expect home prices to rise and five percent said they expect them to level.
When asked how they think residential real estate will perform in 2018, 50 percent of respondents believe it will improve at a moderate to fast rate, 40 percent think the market will continue at its current rate, and 10 percent believe we’ll see a moderate slowdown.
Current housing report – December 2017
2017 Annual Report – Central Ohio Housing Market
All housing reports
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 www.Realtor.com.
There were 32,218 homes and condos sold in central Ohio in 2017, which is 1.7 percent higher than 2016 and the highest number of homes sold on record for a single year, according to the Columbus REALTORS® Multiple Listing Service.
2017 also saw record high home prices. The average sales price of a home last year was $214,802, which is 6.3 percent above the previous year. The median sales price of a home in 2017 was $181,500, which was 6.8 percent higher than 2016.
During the month of December, the average sales price of a home ($214,735) was 10.0 percent higher than the same month a year ago.
“The healthy economy of 2017 clearly produced many buyers who were persistent in the pursuit of home ownership,” said 2018 Columbus REALTORS® President Sara Walsh.
“Sales prices have continued to steadily inch up month after month, leaving us with one of the strongest housing markets on record.”
There were 1,493 central Ohio homes and condos listed during the month of December, a 1.2 percent increase over the same month a year ago, although a 29 percent drop from November.
The resulting inventory of homes for sale at the end of December was 3,876, which is 16 percent lower than November and the lowest on record in over 20 years. This marks the 83rd consecutive month of year over year declines in inventory.
The declines in inventory left central Ohio with a 1.4 months supply of inventory at the current sales pace, which is another all-time low. This means that, if no more homes were added to the market, it would take less than 1.5 months to sell all the homes and condos currently for sale in central Ohio. (A balanced market is usually around 6.5 months supply.)
“It’s not unusual for listings to taper off during the holidays,” Walsh said. “We’ll begin to see an uptick as spring approaches, if not sooner.”
Given the shortage of inventory, it comes as no surprise that homes sold more quickly in 2017. On average, homes spent only 35 days on the market last year which was 11 days fewer than 2016.
“More sellers should feel ready and eager to list in 2018,” adds Walsh. “Economic indicators such as unemployment rates and consumer confidence are at healthy levels, and sellers currently hold the keys in the buyer-seller relationship.”
According to the latest Housing Market Confidence Index by the Ohio Association of REALTORS®, 95 percent of central Ohio REALTORS® would describe the current housing market as moderate to strong. Over the next year, 95 percent of respondents said they expect home prices to rise and five percent said they expect them to level.
When asked how they think residential real estate will perform in 2018, 50 percent of respondents believe it will improve at a moderate to fast rate, 40 percent think the market will continue at its current rate, and 10 percent believe we’ll see a moderate slowdown.
Current housing report – December 2017
2017 Annual Report – Central Ohio Housing Market
All housing reports
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 www.Realtor.com.
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
Subscribe to:
Posts (Atom)