Columbus OH Housing Update June 2019

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Central Ohio Homes Selling SUPER Fast

Homes were already selling quickly in the Columbus area, but in June the Average Days On Market fell to 23.

Affordable homes priced at $350k or less, where the most demand is, sold even faster at an average of 18 days.

Homes in the $350k-$500k price range sold in an average of 30 days (still very fast).

Meanwhile, home priced from $500k-$700k sold in about 53 days, and homes over $700k sold in about 72 days.

This market mismatch has been happening for some time in the Columbus area. Current market conditions may be ideal for home owners who are ready to move up from their starter or even second home depending on their price point.

“In addition to price, location and condition of the home play a vital role in determining the demand and length of time it will take a property to sell,” said John Myers, 2019 President of Columbus REALTORS®. “And marketing strategies vary significantly based on all of these factors.”

In June 2019, 3,965 homes and condos were listed for sale in Central Ohio. That’s down by 9.8% compared to May 2019 and down 2.4% compared to last year.

Central Ohio inventory was down 2.6% compared to last year, but up compared to May. Total inventory was up by 7.1% in June from May.

The number of homes sold in Central Ohio in June was unchanged from May, but fell by 3.4% compared to last year.

Central Ohio Home Prices Up Again

The average sale price in June was $262,344. That’s a 7.2% increase from June 2018.

The median sale price was $228,000, up 7.5% from last year.

“Even with the price increases, low mortgage rates are keeping homes affordable. But demand is also keeping the pace highly competitive,” added Myers.

“That’s why using a REALTOR® is so important as they can help both buyers and sellers navigate this unique housing market.”

Make A Smart Move

We couldn’t agree more! We have a proven track record of selling homes quickly at great prices! Contact the Smart Move Group at 614-517-4916 to find out our winning strategy for selling homes in the Columbus area.