Susanne grew up in Austria where they celebrated Christmas on the evening of December 24th. The Christmas tree and presents were delivered by the Christ child, not Santa Claus. After reading the Christmas gospel and singing a few carols, they would enjoy a festive evening with cookies, mulled wine and opened all the presents.
Her family held on to this transition after they moved to Ohio. Their kids were glad to get their gifts on Christmas Eve. No one suffered sleepless nights or was rushing out of bed at 5 am to get to the presents first.
We hope you had a very Merry Christmas and a peaceful, relaxing Holiday with your family and we hope the best for you and your family in 2018!
Record Breaking November
Although home sales were 13.9% lower than October, November registered the highest number of sales on record for this month. What’s more remarkable is the fact that the average sales price remained at $213,962, which is 7.6% higher than a year ago and unusually high for this time of the year.
Will the Inventory Drop to 3,000?
The inventory of homes for sale is down to 4,588 and new listings cannot keep pace with closed transactions. With only 2,101 listings added to the inventory in November we are heading into a serious supply crisis next year.
The inventory usually hits its annual low in March, when the selling season is in full swing. In March 2018, we may see inventories fall substantially below 4,000 listings, possibly even reach 3,000 (see below)
This could spell a slowdown of the housing market and result in even higher home values and lower affordability.
November Market Overview
Home Sales were up by 3.2% in November with 2,377 closed transactions (73 more closings than a year ago).
Home Values have increased by 7.6% year over year with an average sales price of $213,962 (which is just $1,300 less than in October). This price is unusually high for the season
Days on Market are at 36 in November. That’s 6 days shorter (-14.3%) than a year ago. The supply is down to 1.7 months.
New Listings Only 2,101 homes were listed for sale in November – that’s 4.8% fewer homes than in November 2016.
The Inventory has dropped to 4,588 homes listed for sale – 15.0% lower than a year ago.
You can download the complete housing report and all local reports at www.columbusrealtors.com/stats
Enjoy the Holidays! Susanne be available to show homes this coming week. Call or text her at (614) 975-9650!