When it comes to putting down roots, homeowners in Central Ohio have carved out quite a niche. According to a 2020 study by SmartAsset, reported in Columbus Business First, Worthington homeowners have held their properties for an average of 24.8 years. The national average for home retention is 13 years.
Long-term home ownership is also found in Pickerington, where homeowners have stayed in their residences for an average of 23.7 years. Delaware homeowners have been sticking around for an average of 18 years.
These embedded homeowners are reaping the benefits of wise home purchases in the past. For example, Worthington residents are spending an average of just 18% of their income on home ownership costs.
Worthington’s low ratio of distressed property, home ownership length and home value appreciation earned it the title of “Most Stable Housing Market in Ohio” by SmartAsset.
Earlier this year, SmartAsset named Pickerington and Hilliard among the “Top 10 Housing Markets in Ohio” based on neighborhood stability, speed of home sales, and home prices relative to income.
While this is great news for Central Ohio homeowners, it’s also an example why Columbus area home buyers have limited inventory to choose from. Homeowners simply do not have much motivation to move. Many purchased their homes during a less expensive period, and have refinanced their mortgages as interest rates fell.
Still, opportunities can be found in the Central Ohio real estate market. Patient home buyers who work with an Exclusive Buyer’s Broker can access the widest possible array of homes for sale – including homes on the Columbus Regional MLS, new construction, and homes For Sale by Owner!
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!
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