Greetings, Ohioans! It's time yet again to delve into the latest updates on the real estate market here in Central Ohio. The latest Central Ohio Housing Report, based on data provided by Columbus REALTORS®, has revealed some fascinating trends. In May, the median sales price skyrocketed to a record-high of $320,000. This impressive figure represents a significant increase of 6.1% compared to the previous month when the median sales price reached $301,705. The last time we witnessed such heights was back in June 2022, when the median sales price hit $315,000. But that's not all—total sales hav ..read more

Hello Central Ohio! Brandon Alfriend here, bringing you the latest scoop on the Central Ohio real estate market in the exciting Spring/Summer season of 2023. Buckle up, because things are heating up! According to the Columbus Realtors’ Central Ohio Housing Report, the average sales price for homes in Columbus saw notable increases this Spring, jumping from $315,808 in February to a solid $340,712 in April. While some of this is seasonally driven, home prices are still up 3.6% over the record-setting year of 2022. Now, you might be wondering if this surge in prices poses a challenge for potent ..read more

Hello fellow Ohians. I hope you're all enjoying this lovely holiday season. As we close the annals of 2021, it's clear this was an amazing year in real estate. While we still have a week to go, home sales have already exceeded those of 2020 by more than 10%. In addition, average prices are up nearly 13% to last year and homes are selling 12 days faster with an average days on market of just 16. Despite this trend, there is still excitement surrounding the number of new listings hitting the market - 2,628 in November to be exact - exceeding November of 2020 by 12%. However, this increase in ne ..read more

Good morning everyone - I hope you're enjoying this wonderful Thanksgiving season! While the retail world is cranking into high-gear for the holidays, real estate is starting to slow down...but perhaps not by much. As of November 17, we had just 2,330 homes for sale and 4,112 homes under contract in Central Ohio. That's about a 3-week supply of inventory based on both this year's average and seasonally-adjusted numbers from last November. In other words, there's more buyers than homes, which is driving prices higher. Last month, the average sale price per square foot was $165.31 compared to ..read more

The fall season is in full swing with football games, autumn leaves, and Sam Adams' Octoberfest, but even as the weather cools, the real estate market is still on fire. Despite an influx of new listings in Q3 - 12,291 to be exact - home sales remain high with the average sale price at $301,572 (9% higher than last year). The influx of new listings, however, was refreshing for those looking to buy and a much needed inventory surge. In fact, last quarter saw a 13% increase in new listings over Q3 of 2020, the most since 2006. But unlike 2006, there's reason for optimism in the real estate world ..read more

Good morning Ohioans! The dog days of summer seemingly came and went, and it's starting to feel a lot like fall, which means Ohio State football! Oddly enough this kicks off on a Thursday night at Minnesota, but the real action starts on Saturday September 11 against 11-ranked Oregon at Ohio Stadium. This will be our first matchup against the Ducks since the 2015 National Championship Game. But as much as I love football, this is a real estate newsletter, and it's not quite football season yet. So without further adieu, check out these stats from last month. For the past few months, the numb ..read more

Hello Ohioans! It's time for yet another real estate market update, and for the first time in a while, the forecast is a bit ambiguous. While the general narrative being proclaimed by industry and media is that the market is still booming, the data paints a more nuanced picture. For example, the Columbus Board of Realtors' monthly report, titled "Record Sales at Record Prices in Record Time", while technically true, doesn't reflect the whole story. The title itself is based on the simple statistic that Central Ohio home sales set 3 key records in June - most homes sold in a single month (3,64 ..read more

Summer is officially here and the Ohio real estate market is hot! The big news that everyone is talking about is how quickly homes are selling right now. In fact, May 2021 saw the lowest days on market on record - 14. Last week's market analysis by the Columbus Board of Realtors points out the stark contrast of today's market versus that of just 10 years ago, stating that "Ten years ago, there were 17,603 homes for sale – 8.5 times more than today, and yet home sales today are 50 percent higher. Market shares have also changed significantly over the last decade. In May 2011, homes under $350 ..read more

Good day fellow Ohioans! I truly hope everyone has been enjoying this beautiful weather and what seems to be some semblance of normalcy after the most tumultuous year in recent history. In the world of real estate, we witnessed a 16.6% price increase over last April, which was the highest year over year growth of any single month on record. One common, but inaccurate, explanation of this phenomenon is the idea that people are purchasing larger homes which are inherently more expensive. While this hypothesis sounds logical, it's not true - at least not in Ohio. To date (as of 5/22), the averag ..read more

Photo by Pexels Thinking of entering the housing market? Connect with CommonCents for a trustworthy and professional experience! Call 614.706.1912 today. Whether you are in the market to buy or sell a home, you are likely watching trends for both. Analyzing the market temperature— realtor-speak for who has the advantage, buyers or sellers— can give you the insight you need to leverage your strengths and bolster your weaknesses. For example, if you want to sell your home in a buyers’ market, you know that potential buyers will have more options for their future homes. In these situations, payi ..read more