Analysts at Columbus-based Nationwide Mutual Insurance recently studied the economies of 400 metropolitan areas throughout the United States, evaluating household formation, employment prospects and wage trends. This data was used to score the relative strength and stability of local housing markets throughout the country.
Columbus scored in the top 10 of the “Healthy Housing Market” rankings for 2016, meaning that Metro Columbus home values are on stable footing. The study indicates that economic expansion should continue to support home values and sales activity well through 2017.
This is good news for homeowners, and for our local economy as a whole. But it also means that Columbus home buyers cannot reasonably expect market direction to change in their favor.
The Central Ohio real estate market began 2016 with a bang, with year-over-year gains in both median home prices and sales activity. As of February 2016, the average sales price for a Metro Columbus home was $185,556, an increase of 4% from a year ago. A modest inventory of homes for sale, in relation to strong demand, continues to drive the market.
Please keep in mind that industry statistics do not include new home sales conducted by builders, or for-sale-by-owner transactions. These elements are not counted by the Columbus Association of Realtors because they occur outside of our Columbus Regional Multiple Listing Service. Therefore, actual sales volumes, average home prices, and actual home inventory is always a bit different.
Working with an Exclusive Buyer’s Broker will enable you to see all homes on the market, including homes for sale by builders and homes for-sale-by-owners. As our Buyer-Client, you will have our expert representation and guidance during the entire home buying process. No matter how strong the market might be, there is no reason to overpay for a home, or sacrifice important contingencies that protect you.
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
