The Central Ohio housing market is booming. As a buyer you know how hard it is to get an offer accepted when 20 others compete for the same property.

Home sales were 23.1% higher in April compared to the same month last year. New listings increased by 32.9%, and the average sales price rose 16.6%.

However, year-over-year gains in April are inflated.

A year ago, we experienced government lockdowns and the worst recession of our lifetime. To get a more realistic picture of the market you should compare April housing data to 2019, not 2020.

The Average Home Sells 3% Above List Price

Offers above list price are the new norm.

You will have to offer 10% or 15% above list price to be competitive in most suburban markets. You also must prove that you have enough cash to cover any appraisal shortage.

The average sales price reached $291,900 in April, that’s $41,000 higher than a year ago.

More Homeowners List than in 2020

New listings increased by 32.9% above last April. If this trend continues the housing market may ease up over the summer.

The inventory is still 41.6% lower than a year ago and most homes sell in just a few days.

If we follow the trajectory of a more typical year instead of 2020, we may see the inventory “swell” to 4,000 active listings in September (see graphic below).

Showing Index Hits New Records Nationwide

Buyer demand is stronger than ever.

In the Midwest, showing traffic on active listings has increased by 227.9% in April. This means there were 3 times more showings than last year.

Housing Stats for April 2021

Here’s a summary of home sales data for April 2021 as reported by the Columbus Association of Realtors:

  • Closed Transactions – 2,804 – UP by 23.1%
  • Inventory – 1,939 – DOWN by 41.6%
  • New Listings – 3,619 – UP by 32.9%
  • Days on Market – 16 – DOWN by 46.7%
  • Average Sales Price – $291,900 – UP by 16.6%
  • Average Price / Sqft – $1​63.80 – UP by 17.1%

Go to Columbus Realtors to see the full report.

If you have any thoughts of selling, ​Call or Text me NOW at (614) 975-9650!

This may be the best sellers’ market of your lifetime. Don’t miss it!