News – Market Updates

Average Sales Price Up By 8% Hits New Record

Average Sales Price Up By 8% Hits New Record

The average sales price has increased in Central Ohio every single month since early 2013. It is no surprise we hit a new record in May 2017. As more people move to Columbus there’s a tremendous need for housing. Despite an a booming apartment rental sector and a shrinking home ownership rate, there are way […]

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Listing Inventory Shortage Leads to First Ever 10.9% Spring Sales Drop

Listing Inventory Shortage Leads to First Ever 10.9% Spring Sales Drop

The lack of listing inventory has caught up with the housing market. Home sales dropped by a staggering 10.9% in April (while values sky-rocket). This is very unusual and never happened in spring. Traditionally, April and May have been the months when home sales picked up before summer break. Listing Inventory Not Recovering This year […]

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New Home Construction Surge Won’t Level Largest Inventory Drop in History

New Home Construction Surge Won’t Level Largest Inventory Drop in History

New home construction has surged all over the country in 2016. With inventories dropping further every single month, many of my customers choose to buy a spec home (or have one built). This is the best solution, if you can’t find the features you are looking for in existing listings. According to the Census Bureau 4,040 […]

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Market Update 2016: How Dublin & Powell Home Values Increased since 2012

Market Update 2016: How Dublin & Powell Home Values Increased since 2012

December 2016 home sales were flat as compared to a year ago, but home values keep rising. We did not see the usual “December Spike” I mentioned in a previous market update. Overall 2016 was a record year! Closed sales were up by 6.8% and home values rose by 5.8% for an average sales price […]

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Why Profitable House Flipping Has Become Harder in Columbus

Why Profitable House Flipping Has Become Harder in Columbus

House flipping is gaining in popularity again. An increasing number of property investors wants to get back in the market to capitalize on the very limited supply of homes for sale and a strong demand from buyers. Reality shows on channels like HGTV have contributed to the house flipping craze. They make it appear easy with huge profits […]

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Why Home Sales Dropped by 10% in Some Central Ohio School Districts

Why Home Sales Dropped by 10% in Some Central Ohio School Districts

Home sales dropped by 7.6% in the Columbus MLS during the month of July 2016. This comes as a surprise to both economists and Realtors, who predicted solid growth for the rest of the year. Why did the Columbus Real Estate Market fall off a Cliff? Here are a few reasons for the decline: Low Inventory […]

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Columbus Market Update: Average Sales Price of Homes Exceeds $200K

Columbus Market Update: Average Sales Price of Homes Exceeds $200K

The Columbus housing market continues to boom and the average sales price of existing homes has surpassed $200,000. As we approach the peak of the spring buying season, home sellers got used to multiple offers above list price and contracts within days of listing their property. April housing data indicate that it will get even more competitive this summer. I don’t […]

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Listing Inventory Hits Rock-Bottom Despite Record Breaking Central Ohio Housing Market

Listing Inventory Hits Rock-Bottom Despite Record Breaking Central Ohio Housing Market

While 2015 was the best year of record for Columbus real estate, the listing inventory dropped to 6,010, leaving home buyers competing for a very limited number of houses for sale.

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Will Columbus Home Sales Fall Off A Cliff in August?

Will Columbus Home Sales Fall Off A Cliff in August?

While Columbus home sales have reached record highs in July 2015, we observed that the market has slowed down considerably in August. Find out why homes sales will not fall off the cliff later this year.

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As Housing Sales Boom Home Ownership Rate Takes a Plunge

As Housing Sales Boom Home Ownership Rate Takes a Plunge

In May 2015 the Columbus housing market is booming with sales and values up by almost 10%. The rate of home ownership has plunged to the lowest level in 30 years. Find out why.

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