The Columbus Real Estate Market is still very active with 402 transactions closed last week and the average home price is slightly lower than at the beginning of the month at $303,661 compared to $324,321.17. Interest rates might be slightly to blame but it seems that the constant theme for this year is that homes are still slightly overpriced at market launch.
This is evident in the number of days on the market. When we look at homes last week that were priced correctly they spent an average of 15 DAYS less and had an average of $6,188 over the asking price!! In an article last year by Homelight, “buyers look at days on market as a catch-all to see if something is wrong with the house, either in terms of price or condition, and can see a high number as a red flag.” I could not have said it better.
For buyers, the market still has a lot of opportunity and time to shop with the average days on market at 31 days. If you are looking to purchase a home don’t be afraid to ask for concessions on the purchase like having the seller pay part of closing costs. This is something that used to be popular and is now coming into play again with the market shifting.
The bottom line is if you are looking to move this year make sure to pick a real estate agent that has your best interest in hand, is not making “grand promises”, and is consulting you based on their professional opinion. Click here for the full report.
I hope you find this information helpful have a great week everyone and if I can assist you please feel free to contact me at (614) 642-4889!
