Temps are heating up, and so is the Central Ohio real estate market! The number of days on market for Columbus homes for sale is down, and average home prices in Columbus are up.
Read on for April’s days on market, average prices, months of inventory, and more.
- đď¸ Homes For Sale, Newly Listed, Sold, & Pending in Central Ohio
- đCentral OH Average Price Per Square Foot
- đDays On Market in Central Ohio
- đ˛Median & Average Home Prices in Central OH
- đ Months of Inventory In Central Ohio
- đAbsorption Rate in Central Ohio
- What Columbus Home Sellers Need To Know
- What Columbus Home Buyers Need To Know
đď¸ Homes For Sale, Newly Listed, Sold, & Pending in Central Ohio
The number of Homes For Sale in April 2018:Â 2725Â units.
⢠
Up 7.5% compared to March 2018
⢠
Down 15.7% compared to April 2017
The number of Homes Listed in April 2018:Â 3312Â units.
⢠Up 6.3% compared to March 2018
⢠Up 0.3% compared to April 2017
The number of Homes Closed in April 2018: 2288Â units.
⢠Up 2.4% compared to March 2018
⢠Down 3.2% compared to April 2017
The number of Homes Placed Under Contract in April 2018:Â 3412 units.
⢠Up 24.7% compared to March 2018
⢠Up 16.7% compared to April 2017
đCentral OH Average Price Per Square Foot
The Average Price per Square Foot on Sold homes is Appreciating* and is up to $120.
⢠Up 1.7% compared to March 2018
⢠Up 6.2% compared to April 2017
*Based on 6 month trend – Appreciating/Depreciating/Neutral
đDays On Market in Central Ohio
The average Days On Market in April dropped by almost 10 days!
The Average Days on Market number for April 2018 was 28Â days. That’s…
⢠Down 24.3% compared to March 2018
⢠Down 24.3% compared to April 2017
The Sold/Original List Price Ratio Rose* in April 2018 at 98%.
⢠Up 1% compared to March 2018
⢠Up 1% compared to April 2017
*Based on 6 month trend – Rising/Falling/Remains Steady
đ˛Median & Average Home Prices in Central OH
The Median Sold Price appreciated* in April 2018 to $200k.
⢠Up 3.6% compared to March 2018
⢠Up 8.1% compared to April 2017
The Average For Sale Price was Neutral* in April at $395k.
⢠Up 0.8% compared to March 2018
⢠Up 6.8% compared to April 2017
The Average Sold Price in April rose* to $233k.
⢠Up 1.7% compared to March 2018
⢠Up 5.4% compared to April 2017
*Based on 6 month trend – Appreciating/Depreciating/Neutral
đ Months of Inventory In Central Ohio
April 2018 was a Seller’s market* in Central Ohio (again).
The Months of Inventory based on Closed Sales in April 2018 was 1.2.
⢠Up 8.8% compared to March 2018
⢠Down 14.6% compared to April 2017
*Seller’s market: less than 3 months of inventory based on closed sales
đAbsorption Rate in Central Ohio
The Absorption Rate based on Closed Sales in April 2018 was 84%.
⢠Down 4.8% compared to February 2018
⢠Up 14.9% compared to March 2017
*Seller’s market: 33.33% and above based on closed sales
What Columbus Home Sellers Need To Know
This really is a great time to sell your home! Buyers are out in full force, home prices are up, and homes are selling very quickly.
Keep in mind that market conditions can vary by neighborhood and even price point. Contact Columbus OH Realtor Rita Boswell to check market conditions in your community, and to determine how to best prepare your home for a speedy sale.
What Columbus Home Buyers Need To Know
Not only is it a Seller’s Market in Central Ohio, but seasonally this is also the busiest and most competitive time for home buying.
Many buyers are frustrated by the extremely low housing inventory and rising prices, but stick with it and don’t lose hope. It’s still good time to buy a home thanks to interest rates that remain near historic lows and rising rents.
Home buyers that work with an experienced Realtor typically find and buy their home faster. Contact us at the Rita Boswell Group to find your ideal home.
About Central Ohio Real Estate Market Reports
At the Rita Boswell Group, our goal is to provide home buyers and sellers with the most up to date, in-depth market report possible.
This report is based on data supplied by the Columbus Board of Realtors or its MLS. Information is deemed reliable but not guaranteed. Specific data points provided above may be adjusted, which will be reflected in future reports.
Central Ohio real estate market reports cover the counties of Franklin, Delaware, Fairfield, Licking, Madison, Pickaway, and Union. For market information on a specific community, contact Realtor Rita Boswell at 614-547-3229.
