Central Ohio Housing Report June 2024

COLUMBUS, Ohio (July 23, 2024)—The central Ohio housing market broke its own record in June, and new listings increased, according to the latest housing statistics for June 2024 provided by Columbus REALTORS®. The median sales price hit a new all-time high. Homes sold for an average of $334,900 in June, a 3.9% increase year over year. To put that jump into perspective, just five years ago, the median sales price in Central Ohio was $181,500. “We are riding this wave of increased home prices this year. The downfall? Sellers will need to have patience as buyers are taking a little longer to make the big financial commitment,” said Columbus REALTORS® President Scott Hrabcak, “Having a dedicated REALTOR® by your side can help make the selling period a lot less stressful.” On average, homes in the Columbus & Central Ohio Regional MLS take just over three weeks to sell. Last year, homes sold in just about 20 days. “Buyers are finally getting more homes to choose from around town,” Hrabcak said. Inventory is up more than 35% year over year. Housing numbers for June show 3,905 homes on the market. That’s an increase of more than 1,000 compared to June of 2023. Additionally, inventory reflects those numbers with a 33% increase in a month's supply of inventory for June. Several Central Ohio communities are seeing a boom in their housing market. Big Walnut Local School District in Delaware County experienced a 50% increase in closed sales year over year. 33 homebuyers said yes to investments here in June. Fourteen families snagged forever homes in Grandview Heights in Franklin County. That’s more than a 55% increase in closed sales year over year. The spike in sales comes even as the median price of a home in Grandview Heights jumped 55% since last June. It rose to an average of $709,000. Columbus REALTORS® is composed of almost 10,000 real estate professionals engaged in residential and commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development, and more. The Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Marion, Morrow, Pickaway, and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Muskingum, Perry, and Ross counties. Here’s to new beginnings and a bright future in your new home! Contact Connie Sadowski, Realtor with questions 614-943-0025 Search for homes ConnieSellsOhio.com #1 Team Top 1% of Realtors The Powell Buehler Group coldwell Banker Realty
Location: Ohio, USA

Comments

Post a Comment

Thanks for commenting, please call me if I can answer questions or help in anyway.

Popular posts from this blog

Don’t Be Afraid to Sign Buyer Representation Agreement

Image
"Don’t Be Afraid to Sign" in its entirety originally appeared in the June 2024 issue of COMO Business Times Connie Sadowski, Realtor is a leader in  the industry and has been using Buyers Exclusive Representation agreements since 2017 to explain how she works and how she earns her professional fees. The real estate  industry has been buzzing with a recent federal class action lawsuit settlement. One of the settlement’s most significant outcomes is the requirement of Buyer’s Representation Agreements.  Starting in August 2024, all real estate professionals who are members of the National Association of REALTORS will be required to have a signed Buyer’s Representation Agreement before showing a buyer property.  These agreements, which allow a real estate broker to represent a buyer’s interest in a transaction, have been used for years. However, some buyers are hesitant to sign an agreement before viewing a home, but it’s to their benefit to do so.    Every potential buyer of a
Read more

Central Ohio Housing Report July 2024

Image
  COLUMBUS, Ohio (Aug 22, 2024)—  Columbus Realtors reports closed sales are up 12 percent, and inventory has surged to its highest point in five years in the latest housing statistics for July issued by Columbus REALTORS®.   There were 2,806 closed sales in July, a 12 percent uptick over July 2023. The most significant rise came in total inventory, which increased from 3,137 homes for sale in July 2023 to 4,325 homes for sale in July 2024. That’s a 37.9% increase year over year. It also marks the largest number of homes for sale in a single month since November 2019.   The median sale price in central Ohio is $327,250, a 3.9% increase year over year. Last month, it reached an all-time high in the region at $334,900.   “The fact that there are over 1,200 more homes available on the market right now than this time last year is a positive for prospective home buyers,” said Columbus REALTORS® President Scott Hrabcak.   “Columbus remains an in-demand seller’s market, but having nearly two
Read more

Central Ohio Housing Report August 2024

Image
August 2024 Central Ohio Housing Report from Columbus REALTORS® As mortgage rates reach their lowest point since February 2023, inventory in central Ohio steadily increases but still very low inventory remain, we are in a strong Sellers market. Lower interest rates historically  bring a flood of new buyers into the home buying market. With school in session a month now, we will also see more Buyers re-enter the market in the next week. Sortable Housing Stats by School District/County Central Ohio Housing Statistics COLUMBUS, Ohio (Sept. 19, 2024)— August saw 2,738 closed sales in the Columbus & Central Ohio Regional MLS, marking a 4.8% decrease year over year. Despite the slight decline in sales year-over-year, inventory continued its steady rise in the latest housing statistics issued by Columbus REALTORS®. August was comparable to July in terms of closings. Last month, there were 2,806 sales, resulting in a 2.4% decline compared to August. Despite the slowdown in August, year to
Read more