Columbus Housing Costs on the Rise

RealSupport — Fri, 29 Jun 2018 05:57:16 +0000

Whether you rent or buy a Metro Columbus home, the cost of housing is going up. According to Zumper.com, the median rent for a 1-bedroom Columbus apartment increased by 2.8% on a year-over-year basis, reaching $730 as of June 2018. During the same period, the cost of a 2-bedroom Columbus apartment increased 7.1%, reaching $1,050.

Metro Columbus home sale prices are climbing as well. As of May 2018, the average sales price of a Central Ohio home reached $235,133, marking a 3.8% rise from May 2017. Homes spent an average of 27 days on market before going under contract.

Columbus remains one of the hottest markets in the country. Realtor.com placed Columbus at #4 in market activity during April and May. We are on track to place in the top 5 for June. You can read the details in our prior blog post, which includes our view from the trenches.

Despite the increases, Central Ohio is still among the better housing values! There are vast home price differences among Columbus neighborhoods and school districts. Certain price points are seeing a softer market, such as homes priced at $450,000 and above. Luxury condominiums are also moving slower.

Those who are looking for bargains at the lower end of the market can still find them, too – it’s all in knowing where to look! Buyers who work with an Exclusive Buyer Agent have an advantage, because we can show you any home on the market, including for-sale-by-owner and for sale buy home builder, as well as the Columbus Regional Multiple Listing Service!

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!

Andrew Show
Broker, CEBA-M, CNE, 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

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Columbus Housing Costs on the Rise