🏡 Welcome to the Columbus Real Estate Market Report – August 23rd 📊
Hey there, it’s Michael Dalton from EXP Realty, and I’m thrilled to bring you this week’s Columbus Real Estate Market Report. If you find these updates helpful, be sure to hit that like and subscribe button so you never miss out on future reports. And don’t forget to share this valuable information with a friend!
📆 Mid-August Update: Can you believe it? We’re already halfway through August, and the kids are back to school. Time sure flies! Let’s dive into what’s happening in the Columbus real estate market this week.
🏠 Inventory Insights: This week, we’ve witnessed an increase in available inventory, with approximately 60 more homes hitting the market compared to the previous week. As of today, there are 3,097 homes available for purchase. Additionally, we have 2,960 homes currently under contract, and over the past month, 2,702 homes were successfully sold. This translates to a 1.15 months of available inventory.
💲 Market Trends: Last week, 570 homes were sold in Columbus with an impressive average sales price of $368,000. What’s even more remarkable is that these homes were selling for an average of $4,334 over their asking price! On top of that, they spent an average of just 17 days on the market. Sellers are truly achieving top dollar, especially for homes that stay on the market for five days or less. This trend has been consistent throughout the year.
🏡 The Most Expensive Sale: Let’s talk about luxury. Last week, a spectacular property in High Grove Farms, New Albany, sold for a whopping $4.2 million – and it was a cash deal! It’s a testament to the allure of our local luxury real estate market.
🏘️ Active Zip Code: Grove City continues to be the most active zip code in Columbus, accounting for nearly four percent of all transactions this year. That might not sound like a lot, but Grove City boasts the same number of transactions as both Powell and Worthington combined.
💰 Interest Rates: According to Mortgage News Daily, the current interest rate stands at 7.49 percent, which may not be the best news. However, our market remains remarkably resilient. Buyers are still pursuing their dreams of homeownership, showing that securing the right property outweighs concerns about higher interest rates.
👉 Let’s Chat Over Coffee: I’m here to help you make the best move for your future. If you’d like to discuss your options or simply chat about the real estate market over a cup of coffee, don’t hesitate to reach out to me at 614-642-4889 or visit my website at mynexthomecolumbus.com.
Thank you for joining me for this week’s Columbus Real Estate Market Report. I’ll be back next week with more insights and updates. Have a fantastic day! 🏡📈 #ColumbusRealEstate #MarketReport #RealEstateTrends
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