At Home with Connie Sadowski, Real Estate Expert

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,” H...

If you’re in the market to buy a home, there’s some exciting news for you. Many people assume that newly built homes are more expensive than existing ones (houses that have already been lived in), but that’s not always the case. In fact, exploring newly built homes can sometimes lead to more cost-effective options, especially today. Hard to believe, right? But the data doesn’t lie. CAUTION: Do not go it alone, take me, an experienced real estate expert with you to all appointments or you might not have your own agent and may be forced to have no independent representative. Dont register on a builders website....you might not be allowed to bring me to represent you! Here are two key reasons working with your agent to look into new home construction could help you find a more budget-friendly option. Reason 1: Lower Median Prices for Newly Built Homes The median sales price for newly built homes is lower than the median sales price for existing homes today. This might seem surprising, ...

  Central Ohio November Housing Report and 2024 Predictions. In Central Ohio new builds and homes for sale/listings expected to remain low, ensuring 2024 a will continue a Sellers Market. In that light, Rents and Home Sales Prices expected to maintain steady with slower increases than last few years increases—noting interest rates slightly down, however rents and sales prices are not predicted to be  coming down. See National Report from Zillow ,  remember our Ohio Market is not average. Low housing inventory —that is homes for sale and new build inventory  —-will keep home prices rising.  National News  Home values, mortgage costs tick down Year-over-year growth in the Zillow Home Value Index (ZHVI) continues to climb, though that hides more recent home price trends. With mortgage rates still above 7% for prime borrowers in November, ZHVI’s monthly growth rate went more negative than is typical in November.  The typical home in the U.S. is worth $347...

  It could still be costing you more to rent than to own considering renters don't benefit from a home's appreciation and natural amortization of a fixed-rate mortgage.