Columbus area homes are in high demand, according to an analysis by Realtor.com. The analysis includes online home search activity, the inventory of homes for sale, and days-on-market for dozens of U.S. metros. Columbus placed #10 on the “hot” list, ranking ahead of Boston at #11, and just behind Ann Arbor in the state up North at #9!
Meanwhile, Central Ohio home inventory continues to hover at historic lows, while the pace of sales has accelerated. Home inventories are down 21% from a year ago.
Examining our home inventory in more detail, we see that the number of distressed properties have also been reduced. The Columbus Dispatch reports that foreclosures and short sales accounted for 13.8% of home sales during the first quarter of 2016. During the same period a year ago, distressed homes accounted for nearly 20% of sales. Four years ago it was half of all sales.
Not surprisingly, home prices continue to climb. As reported in the Dispatch, Metro Columbus home prices are averaging 7.2% higher than last year. Nationally, home sale prices increased by 6.3%, putting us ahead of the curve.
Industry analysts point to a stronger job market, pent-up demand, improved consumer confidence and low interest rates as home buying motivators. Additionally, real estate investors continue to be active home buyers, finding Columbus real estate more appealing than a tumultuous stock market or stagnant savings rate.
As always, please remember that home inventories in the Columbus Regional MLS do not include homes being sold by non-agents, such as home builders and For Sale by Owner properties. At Buyer’s Resource Realty Services, we can show you all homes on the market, no matter who is doing the selling!
Prepare for the market with our free e-book, “How to Buy a Home like a Pro” It’s yours without any obligation! When you become our Buyer-Client, you’ll receive our 125-page “Educated Buyer Notebook” that contains expert insights you won’t find anywhere else.
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
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
