Hello everyone, Michael Dalton with eXp realty this is your Monday Market Update for February 13, 2023. The Columbus Real Estate Market is shifting and it is beginning to show!
The number of houses available/coming soon remains stable and still low this week with 2,129. As I mentioned over the last few weeks, the number of days on market is one of the signals as to if your house is priced right and if it will move fast.
The Real Estate Market was very busy last week and saw a 25% increase in home closings at 533 with an average sales price of $277,480.00. There was a ⅓ reduction in the number of days on the market to 23 which is the lowest we have seen all year!
Sellers and their real estate agents are pricing homes more realistically than they have been. We saw an increase of 20% in the number of homes that sold within 5 days over the past 4 weeks. 51% of those sold within 5 days and showed a 25% increase in home value compared to the rest of the homes sold that saw a lower sales price and an average of 44 days on market.
Despite what the headlines may be stating the truth is that if a home is priced right it will sell fast and for more money! If you are a buyer now is the time to purchase a home and begin gaining equity! If you are a seller make sure to price your home correctly to move fast!!
If you would like my full report please click here. I hope you find this information helpful have a great week everyone and if I can assist you in any way please feel free to contact me at (614) 642-4889!
