The weather may be getting cold, but real estate in Columbus remains hot!
While we are seeing a little bit of the normal seasonal slow down in the Columbus area, the Central Ohio real estate market remained a Seller’s Market* in October.
There was a small price depreciation since September 2016, but prices are up compared to this time last year.
Let’s dig into the numbers:
Central OH Market Report Video For October 2016
Central Ohio Homes For Sale/Sold/Pending/New Listing
Homes For Sale in October 2016: 4684 units.
- Down 3.9% compared to the last month
- Down 25.1% compared to the last year
Homes Listed in October 2016: 2578 units.
- Down 6.3% compared to the last month
- Down 3.8% compared to the last year
Homes Closed in October 2016: 2314 units.
- Down 15.2% compared to the last month
- Up 2.6% compared to the last year
Homes Placed under Contract in October 2016: 2929 units.
- Up 14.4% compared to the last month
- Up 32.2% compared to the last year
*Buyer’s market: more than 6 months of inventory based on closed sales
Seller’s market: less than 3 months of inventory based on closed sales
Neutral market: 3 – 6 months of inventory based on closed sales
Average Price Per Square Foot for Sold Homes
October 2016 Average Sold Price per Square Footage is Depreciating* in Central Ohio.
Average Sold Price per Square Footage in October 2016: $108
- 0% compared to the last month
- Up 8% compared to the last year
*Based on 6 month trend – Appreciating/Depreciating/Neutral
Average Days On Market in Central Ohio
October 2016 Average Days on Market trend Remains Steady* in the Columbus area.
Average Days on Market in October 2016: 46
- Up 7% compared to the last month
- Down 22% compared to the last year
October 2016 Sold/Original List Price Ratio is Falling*
Sold/Original List Price % in October 2016: 96%
- Down 1% compared to the last month
- Up 1.1% compared to the last year
*Based on 6 month trend – Rising/Falling/Remains Steady
Columbus OH Average Price For Sale & Sold
October 2016 Average For Sale Price is Depreciating*
Average For Sale Price (in thousand) in October 2016: $316
- Down 1.2% compared to the last month
- Up 17.9% compared to the last year
October 2016 Average Sold Price is Depreciating*
Average Sold Price (in thousand) in October 2016: $208
- Down 1.9% compared to the last month
- Up 10.1% compared to the last year
*Based on 6 month trend – Appreciating/Depreciating/Neutral
Months Of Inventory in Central Ohio in 10/16
Months of Inventory based on Closed Sales in October 2016: 2
- Up 11.2% compared to the last month
- Down 28.9% compared to the last year
October 2016 Median Sold Price is Depreciating*
Average Median Sold Price in October 2016: $175
- Down 1.7% compared to the last month
- Up 9.4% compared to the last year
*Based on 6 month trend – Appreciating/Depreciating/Neutral
Have Questions? Ask Away!
I love talking about the Columbus real estate market! If you have questions about the report, or you want an in-depth report for your neighborhood, contact me, REALTOR Rita Boswell, at (614) 547-3229.
* All reports are published November 2016, based on data available at the end of October 2016, except for the today stats. All reports presented are based on data supplied by the Columbus Board of Realtors or its MLS. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
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