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Market Update: Median Price Jumps 8% while Inventory Remains at Historic Lows
Columbus will outperform the housing market in 2020. That's the prediction made by the National Association of Realtors (NAR) in their Top Ten Outperforming Metro Market Report. Here are the top 10 US cities listed in the report. What does this mean for you? It means...
Market Update: Pending Contracts Up Sharply while Closings Decline
In October, we saw an unusually sharp increase of pending contracts, while home closings dipped a little. New listings are on the rise; however, the inventory remains at historic lows. Here are the details ... Inventory Below 2018, but Stable The inventory of homes...
Market Update: September Home Sales Spike, Decimates Inventory
September home sales were exceptionally strong. Closings increased by 8.9% over last year's numbers, probably fueled by lower interest rates. At the same time 8.4% more homeowners decided to list. It's the largest increase of new listings ever during the month of...
Market Update: New Listings Plummet in Suburbs
Fall is the time of the year when fewer homes are listed for sale. It is a time when sellers are more motivated to accept lower offers, which opens the door for buyers to find better deals and face less competition. This chart proves my point ... The chart shows the...
Market Update: Spike in Condo Sales Makes July Best Ever
July saw a 3.9% increase in home sales. It's mostly due to a sharp rise in condominium sales while single family homes were stagnant. A lack of new listings kept the inventory at its lowest level ever for the month of July, while home values keep rising. Trends We...
Market Update: Building Permits Slump by 21%
June used to be the best month for home sales. Not this year. Home sales were down by 3.6% as compared to a year ago. While other metros are reporting more listings and longer days on market, Central Ohio is stubbornly fighting a lack of inventory. Who's the culprit?...
Market Update: Avg Sales Price Shattering the $250K Glass Ceiling
Last week I received a voice message from an angry homeowner. He accused me of FAKE NEWS after he received my postcard saying that the median sales price skyrocketed by 12.4%. Sorry, pal. It's true. Columbus Realtors housing stats show that the median has increased by...
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