Hello everyone, Michael Dalton your trusted Columbus REALTOR© this is your Monday Market Update for February 27, 2023.
Supply is low at 2,015 active/coming soon homes currently available in the Columbus market, however, the average home sales price rose to $318,424.42 last week which is the second highest for the year!
Homes that stayed on the market for 5 days or less saw a 5% increase in the average sales price which was a difference of almost $17K!! This means that homes on the market for 5 days or less averaged $5,780.55 more that didn’t proving “time is money!”
If you are a seller and you think that “testing” the market with a higher price for a few days is a good listing strategy, you need to think again. The market has shifted and more time on the market can cost you time and momentum!!
If you are a buyer remember that use the shifting market to your favor and work with the seller on concessions for down payments, interest buy-downs, and more! Click here for my full report!
I hope you find this information helpful and I will talk with you soon!
