Your Real Estate Market Update:


Local Market Information provided by the Columbus Board of Realtors MLS. Last Updated July 23, 2018


 Here you will find the latest local housing trends that will give you insights, updates and analysis to your local marketplace. If you have any questions about this report or anything else related to real estate, please feel free to reach out to us. We are proud to be a trusted advisor and help you make important business decisions when it comes to real estate.






















































































Entire MLS


       Clintonville Beechwold
Franklin County Columbus City Schools
Delaware County Worthington City
    Downtown Columbus 43215
    German Village
Upper Arlington
Grandview Heights
Bexley
Worthington Schools
Dublin Schools
Hilliard Schools
Olentangy Schools
Powell
Westerville Schools

Gahanna Jefferson Schools


New Albany Plain Local Schools

 


Not All Homes are Selling Quickly


(July 23,  2018 – Columbus, OH)


 


Central Ohio homes only spent an average of 23 days on the market during the month of June, which is 4 days fewer than May and is now the lowest on record, according to the Columbus REALTORS® Multiple Listing Service.  



“With more buyers than sellers, many homes are selling quickly in today’s market,” said 2018 Columbus REALTORS® President Sara Walsh. “However, not all homes are selling that quickly.”



Residential homes for sale in June show an average market time of 72 days and homes listed between $500,000 and $749,999 have been on the market for an average of 114 days.



The average sales price of a home during the month of June in central Ohio was $244,830, which is 8.7 percent more than June 2017 and the highest on record for any one month. The median sales price was $212,000, up 11.4 percent from a year ago and also a record high.



The average sales price of a home sold year to date (January through June) sold for an average of $226,669, up 6.6 percent from the first half of 2017.The median sales price for the first six months of 2018 was $192,500, up 7.5 percent.  



“It’s important to keep in mind that even though some homes are selling quickly, selling on your own isn’t advisable,” Walsh said. “Having a REALTOR® represent you is most beneficial in today’s complicated market.  Homes sold by REALTORS® sell for approximately 32 percent more.” 



Even with a dip in new listings, inventory increased to 4,912, up 9.9 percent over May, but still down 3.2 percent from last June. This left central Ohio with a 1.8 months supply of inventory at the current sales pace.



“It’s encouraging to see an increase in inventory,” Walsh said. “I hope sellers continue to realize it’s a tremendous time to list a home, because buyers are more than ready!” 



There were 3,338 homes and condos sold in June, which is 9.2 percent more than May, although down 5.1 percent from June 2017.