At Home with Connie Sadowski, Real Estate Expert

The housing market is shaping to be a  rosy real estate outlook  economists are predicting for 2025. In the latest sign of improvement,  pending home sales —a gauge of future home sales based on contract signings—rose 2.2% month over month in November, the National Association of REALTORS® reports. Marking the fourth consecutive month of increases, contract signings are up nearly 7% from a year ago and are at their highest level since February 2023. “Consumers appeared to have recalibrated expectations regarding mortgage rates and are taking advantage of more available inventory,” says NAR Chief Economist Lawrence Yun. “Mortgage rates have averaged above 6% for the past 24 months. Buyers are no longer waiting for or expecting mortgage rates to fall substantially. Furthermore, buyers are in a better position to negotiate as the market shifts away from a seller’s market.” Several recent housing indicators have painted a healthier picture of the market: Existing-home sales j...

Waiting is a strategy but is it a good one? These numbers may help you decide it’s time to jump in the housing market now. Closings in central Ohio were up 3.5% compared to last November, and the total inventory checked in at 4,600 homes and condos, a 21.2 percent increase over last year. Through 11 months, 2024’s housing market in central Ohio is on track to outperform 2023 in nearly every category. There were 2,146 closings reported in the Columbus & Central Ohio Regional MLS in November 2024. The median sales price remained the same as October, holding steady at $315,000. Days on market rose 29.2% year over year to 31 days, and new listings dipped 1.3% compared to last year, as 2,204 new listings entered the market in November. November’s total number of closed sales was in line with last year's; however, it marked an 18.3% decrease compared to last month. In October, 2,539 closed sales were reported. As the year winds down, 2024 is tracking to outperform 2023 across the boa...

  Progress on the Ohio One Intel site as of August 2024 State Route 161 Improvements: July 2023 - August 2025  A third lane has been added to each direction of State Route 161 from I-270 to U.S. 62, taking the road from four lanes to six. Governor Mike DeWine and ODOT celebrated the widening of this heavily congested 6.3-mile portion as the lanes opened to traffic the week of October 27. Governor DeWine directed ODOT to prioritize this road construction project due to an anticipated increase in traffic resulting from large-scale economic development projects in the area. Final paving of all six lanes will take place this spring. This project also entailed widening the ramp from State Route 161 west to I-270 north and includes the future installation of noise walls in select areas along the highway to mitigate sound impacts on nearby residents. These additional construction activities should be complete by August 2025. Download a PDF of the Planned Improvements → Phase 2 of Gre...

  Home Values Rise Even as Median Prices Fall Headlines have been buzzing about the median asking price of homes dropping compared to last year, and that’s sparked plenty of confusion. And as a   buyer   or   seller , it’s easy to assume that means prices are coming down. But here’s the catch: those numbers don’t tell the full story. Nationally, home values are actually rising, even if the median price is down a bit. Let’s break down what’s really happening so you can make sense of the market without getting caught up in the fear the headlines create. Homes on the Market Right Now Are Smaller The biggest reason for the dip in median price is the size of homes being sold. The median price reflects the middle point of all the homes for sale at any given time. And that’ll be affected by the mix of homes on the market. To show you how this works, here’s a simple explanation of a median ( see visual below ). Let’s say you have three coins in your pocket, an...

The Ohio One Site in January 2023. In February 2024, Intel announced that it is pushing back its timeframe for completing the two fabs. When Intel first announced Ohio as the site of its newest and most sophisticated chip manufacturing factories, company officials suggested the facilities could be done as early as 2025. But that aggressive goal will not be met. Typical construction timelines for semiconductor manufacturing facilities are three to five years from groundbreaking, depending on a range of factors. Intel broke ground on its Ohio One campus ahead of schedule in September 2022. Since announcing its plans in early 2022, Intel has been a strong community partner for the City of New Albany. The company has reiterated its full commitment to the project, and we expect to see continued progress at the Ohio One site. The City of New Albany will continue to fulfill its commitments of completing related infrastructure, and we look forward to our continued partnership with Intel to bri...

Intel New Albany, Ohio Breaks ground Updates, more info   https://siliconheartland.newalbanyohio.org Connie  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. 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 conniesadowski.com