The Central Ohio real estate market was undaunted during March, even as Ohio began a lockdown against the spread of COVID-19. With real estate offices and related functions remaining open as essential businesses, Columbus area home buyers made the most of it.
According to statistics from Columbus REALTORS®, March 2020 home sales activity was 11.8% higher than March 2019, and up 1.5% from February 2020.
The average home sale price increased by 8.9% compared to March 2019, reaching $241,032. Measured another way, median home prices increased by 10.6%, reaching $210,000.
For the most part, homes sold quickly. The exception was in the price range of $700,000 and up. Here’s the average time homes spent on market during March:
- Under $350,000 = 32 days on market
- $350,000 to $500,000 = 64 days on market
- $500,000 to $700,000 = 65 days on market
- $700,000 and above = 138 days on market
Home inventory remains limited. Early reviews of April data indicate that new listings are measurably down from a year ago.
As always, please remember that statistics don’t tell the whole story! Home sales independent of the Columbus Regional MLS system are not counted in these figures, including For-Sale-By-Owner transactions and home builder sales. And because we only represent buyers, we can show you any of these homes, no matter the seller!
As your Exclusive Buyer’s Broker, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.
Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!
Contact us with your home buying questions! Remember, we are with you every step of the way…all the way home!
Andrew Show
Exclusive Buyer’s Broker, CEBA-M, MCNE, CSP, PSA,e-PRO, CREM, ABRM, AHWD
Buyer’s Resource Realty Services www.BuyersHome.com
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax
