In my Lewis Center real estate market report for the first quarter of 2016, we saw low inventory, homes selling quickly, and prices moving up. This is no surprise as it follows national trends.
Let’s take a quick look at the latest numbers for Lewis Center, and see how the second quarter real estate market looks.
Lewis Center For Sale/Sold/Pending/New Listing
As in the first quarter, we are once again in a Seller’s Market in Lewis Center, Ohio. While the number of homes for sale in June went up, the number of homes listed moved down over 5% compared to this time last year. This low inventory is fueling the seller’s market, and making house hunting a challenge.
Homes For Sale in June 2016: 95 units.
- Up 5.6% compared to the last month
- Up 1.1% compared to the last year
Homes Listed in June 2016: 72 units.
- Down 1.4% compared to the last month
- Down 5.3% compared to the last year
Homes Closed in June 2016: 58 units.
- Down 18.3% compared to the last month
- Up 3.6% compared to the last year
Homes Placed under Contract in June 2016: 30 units.
- Down 31.8% compared to the last month
- Down 50% compared to the last year
Average Price Per Square Foot
June 2016 Price Per Sqft Highlights
June’s average sold price per square foot is appreciating (based on 6 month trend).
Average Sold Price per Square Footage in June 2016: $119
- Up 2.6% compared to the last month
- Up 5.3% compared to the last year
Average Days On Market (DOM)
June 2016 DOM Highlights
As we saw last quarter, the Average Days on Market trend in Lewis Center is falling (based on 6 month trend).
Average Days on Market in June 2016: 33
- Down 15.4% compared to the last month
- Up 6.5% compared to the last year
Average Prices & Median Prices
Average Median Sold Price in June 2016: $275k
- Down 3.2% compared to the last month
- Up 3% compared to the last year
June 2016 Average For Sale Price is Appreciating*
Average For Sale Price (in thousand) in June 2016: $373
- Up 3.6% compared to the last month
- Up 6.3% compared to the last year
June 2016 Average Sold Price is Appreciating*
Average Sold Price (in thousand) in June 2016: $291
- Up 1.7% compared to the last month
- Up 1% compared to the last year
*Based on 6 month trend – Appreciating/Depreciating/Neutral
Months Of Inventory
June 2016 Housing Inventory in Lewis Center OH
Months of Inventory based on Closed Sales in June 2016: 1.6
- Up 23.7% compared to the last month
- Down 6% compared to the last year
What’s It All Mean?
The short answer: it’s a HOT seller’s market. If you’ve been thinking about selling your Lewis Center home, this might be an ideal time for you to sell.
Start by learning more about the home selling process and by finding out the current market value of your home.
Buying In A Seller’s Market
If you’re ready to buy a home, it may be a challenge, but don’t lose hope. With interest rates low and Columbus area home values predicted to rise, investing in real estate is still a good idea. I’ve helped plenty of home buyers find the right home, and I know I can help you too.
Start by learning more about home buying and looking at Lewis Center homes for sale.
Questions? Ask Away
I love to talk about Lewis Center real estate! If you have questions about this report, feel free to contact me, Rita Boswell, by phone, email, or even on social.
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