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Unpleasant Surprise Hits Homeowners Amidst Skyrocketing Home Values
A few weeks ago, the Franklin County Auditor mailed letters to home owners stating the new values of their properties. Most likely it included an unpleasant surprise, as you realized that skyrocketing home values result in substantial increases in property taxes. We...
August Market Update: New Listings Increased by 10.4%
The Columbus housing market is on track to hit a record year. Are we over the top, yet? Maybe. Here's why I believe the market will normalize over the next 12 months. New Listings Up By 10.4% One indicator for a normalizing market are New Listings. As you can see in...
Average Sales Price Reached Its Peak
The July 2017 housing report did not show any revolutionary changes to the Columbus real estate market. The inventory remains at historic lows, although some commentators will point out that it increased over last month. This is purely seasonal, as the inventory is...
Median Sale Price at Record High & More Pending Contracts
The Columbus housing market is still buzzing. During the first half of 2017, the median sale price for home values reached record highs with an average of $226,050 in June 2017. That's 5.1% higher than a year ago. The number of homes sold is slightly higher than the...
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...
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...
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...
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