Summer went by quickly in Central Ohio, and the real estate market moved fast as well! According to Columbus Business First, homes spent an average of 33 days on the market during July 2016. This is 10 days shorter than July 2015 – and the shortest time on record for Central Ohio home sales.
The speed of summer home sales put Metro Columbus among the top 10 housing markets in the nation during June and July.
At the same time, home price appreciation slowed. The average sales price for a Central Ohio home in July was $213,809, a slight decline from June. However, July 2016 home sale prices were 4.1% higher than July 2015.
Home inventory improved in July as well, increasing 8.3% from June. While this offered some relief for Central Ohio home buyers, overall home inventory remained 20% lower than July 2015.
Please keep in mind that the above statistics do not include home inventory or home sales outside of the Columbus Regional Multiple Listing Service, such as new construction for sale by builders, or homes for sale by owner. Central Ohio home buyers should always remember that Exclusive Buyer Agents and Brokers can show them any home on the market, while providing uncompromised buyer representation.
This is an important advantage to home buyers in all market conditions. It’s especially valuable when home inventories are lean and the market is “hot.” Overpaying for a home, or waiving essential contingencies that protect you, do not equate to success!
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!
Broker, CEBA, CEBA-M, CNE, CSP, ABR-M, e-PRO, GREEN
Buyer’s Resource Realty Services
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