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...

Closings are up nearly 8 percent in October in the latest monthly report from Columbus REALTORS®  October 2024 - Columbus Realtors Sales in central Ohio remained steady into October as the region witnessed a 7.6% increase in closed sales and 3,047 new listings added to the market. There were 2,539 home sales reported in the Columbus & Central Ohio Regional MLS last month, up from 2,360 sales in October 2023. This month’s sales closely mirrored September, when 2,508 homes changed hands. The median sale price is up 3.3% year over year, checking in at $315,000. One bright spot for consumers is that the median sales price dropped 2.8% compared to last month, when the median sales price was $324,000. “If you’re a potential home buyer or seller in central Ohio, we know that the market can be a little challenging at times,” said Columbus REALTORS® President Scott Hrabcak. “When sales, inventory, and prices are up, a REALTOR can provide expertise and navigate you through the process.” ...

COLUMBUS, Ohio (Oct. 23, 2024)— September saw a 2.6% increase in closed sales, and inventory rose to a two-month supply for the first time in six years in the latest set of housing statistics issued by Columbus REALTORS®. The total inventory of homes for sale in the Columbus & Central Ohio Regional MLS was 4,804 in September, up 4.7% from last month and 32.6% year over year. The last time inventory reached a two-month supply in central Ohio was August 2018, when 5,429 homes were listed. “For the better part of two years, we saw a large majority of homeowners choosing to stay in their homes,” said Columbus REALTORS® President Scott Hrabcak. “As mortgage rates dropped and inventory increased, the market stabilized, but sales remained consistent. In the end, consumers have more choices.” There are similarities between September 2024 and August 2018. There were 3,249 closed sales, with an inventory of 5,429 homes. That month, there were 3,821 new listings, and homes sold at a one perce...

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 Au...

  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 m...

By Ashley Fahey – Editor, The National Observer: Real Estate Edition, The Business Journals Restrictions around building new housing is a commonly cited hurdle to affordability in many U.S. markets.   Housing affordability is becoming a bigger issue for U.S. voters, spurring policymakers — especially at the state and local levels — to consider new measures aimed at easing the burden facing both renters and prospective homeowners.   While every city, county or region thinks about housing affordability (and potential solutions) differently, several common policy changes are being pursued, especially to ease restrictions around building new housing. New research from the Mercatus Center at George Mason University in Arlington, Virginia, outlines some of the biggest reforms being adopted across the U.S. today and offers a menu of potential options for policymakers to consider. Emily Hamilton, senior research fellow and director of the Urbanity Project at the Mercatu...

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...

Navigating the Challenges of Moving with a Baby By Black Tie Moving July 18, 2024 Moving with a Baby Moving to a new home is a significant life event that comes with its own set of challenges. When you add a baby to the mix, the process can become even more complex and stressful. From maintaining your baby's routine to ensuring their safety and comfort, there are many factors to consider. Fortunately, Black Tie Moving is here to help make your next local move as smooth and stress-free as possible. In this article, we’ll explore the unique challenges of moving with a baby and how our professional services can assist you every step of the way. The Challenges of Moving with a Baby 1. Maintaining Routine Babies thrive on routine, and any disruption can lead to stress and fussiness. Moving can throw your baby's schedule off balance, affecting feeding times, naps, and bedtime routines. 2. Safety Concerns A move involves packing and transporting heavy furniture and boxes, whic...

  December saw a 5.7% decrease year over year in closed sales as the median sales price rose 7.3% in the latest Central Ohio Housing Report from Columbus REALTORS® As the central Ohio housing market embarks on a new year, we look back at the final month of 2023. In December, there were 1,917 closed sales in the Columbus & Central Ohio Regional MLS, a 5.7 percent decrease over December 2022. The median sale price grew to $295,000, a 7.3 percent increase year-over-year.   In the peak of summer sales, homes in the region were spending about 17-18 days on the market. In December, that number rose to 30 days, the highest number since March.   The total inventory of homes for sale surpassed 3,000, marking a 9.7% rise over last December. Supply sits at 1.4 months, which is a 27.3 percent increase year-over-year. New listings in December were typical for a month that is traditionally sluggish in this category.  There were 1,434 new listings entered into the MLS in Decemb...

  If you're in a financially stable position, now might be the perfect time to embark on your homeownership journey. Buying a home today offers several advantages, including the opportunity to build equity and stabilize your housing costs in the face of rising expenses. Explore the reasons why purchasing a home now can be a wise decision in the current market. By purchasing a home today, you can start building equity, which is an investment in your future. Additionally, opting for a fixed-rate mortgage allows you to stabilize your monthly housing costs for the long term, even as other expenses continue to rise. This stability provides peace of mind in an ever-changing financial landscape. While housing costs experienced significant increases in 2021 due to a combination of factors, such as inflation, high demand, and low supply, the market has since moderated. If you decide to buy now, you can expect relatively stable house prices and potentially face less competition from other bu...

  Homebuyers in the market who are frustrated by the low inventory are finding what they want in new construction.  Among the obvious advantages are that it is fresh and new, has never been lived in, and can be personalized to an individual's taste and needs. New construction homes can be more expensive upfront, but they can save you money in the long run. These homes are built to the latest building codes, which means they are more energy-efficient and require less maintenance. They also come with warranties that can help protect you from unexpected repairs. New construction homes can be a great option for first-time homebuyers. They offer a blank slate that you can customize to your liking, and they don't have the same wear and tear as older homes. Working with a REALTOR®️can help you navigate the process of buying a new construction home. They can help you find the right builder, negotiate a good price, and make sure that the home is built to your specifications. ...

            Who do you know looking to sell, buy, or build real estate? Odds are, you’ve probably given and received lots of referrals in the past. Whether it’s recommending your favorite Girl Scout cookie seller or polling your social network for a plumber, or even asking friends to introduce you to someone who might make a fundraising donation, referrals are a powerful way to connect with the people you know - and who they know in turn.  By the way, do you know anyone who might need real estate advice?  Or who is curious what homes are selling for in their neighborhood? It would be my honor to offer some insight!     2023 IN REVIEW   REAL ESTATE   ARTIFICIAL INTELLIGENCE The best of 2023 from around the web The hidden power of referrals AI: Shaping our future, transforming our world                                REAL ESTATE INDUSTRY UPDATES ...