Introduction
Hello, Columbus! As the Ohio State Buckeyes triumph over Indiana, and the kids excitedly return to school, we find ourselves at an intriguing crossroads in the Columbus Real Estate Market Report. Welcome to your weekly Columbus Real Estate Market Report, where I’m your trusted Columbus REALTOR©, Michael Dalton, with eXp Realty.
In this edition, we will review the Columbus real estate landscape, exploring the recent developments, and market trends, and how having a REALTOR© near you can be your compass in this thriving market.
Market Snapshot
Let’s kick things off the Columbus Real Estate Market Report with a snapshot of last week’s real estate activity. A total of 61 homes were sold last week, with an average selling price of $375,500. What’s particularly interesting is that this price point has remained consistent over the last several months. Home prices are up 16% since January of this year.
Current Inventory
Now, let’s take a closer look at our current inventory. Presently, there are 2,815 homes under contract over the last 30 days. Out of these, 2,630 have been successfully sold, leaving us with a 1.8-month available inventory. While this figure has been slowly growing over the last few weeks, it’s indicative of the demand for homes in Columbus – the heart of Ohio.
Hot Communities
Delaware, once again, emerged as the most sought-after community last week, boasting 37 transactions and an impressive average sales price of $495,659. But the highlight of the week has to be the highest-priced home, nestled on High Grove in New Albany, which fetched an astonishing $3.56 million! This goes to show the diversity of opportunities this vibrant market presents, from affordable family communities to luxurious estates.
Interest Rates
Now, let’s tackle a topic that’s been on everyone’s minds – interest rates. Tom Lade, mortgage consultant with Cross County Mortgage, reports that the average 30-year fixed interest rate currently stands at 7.08%, slightly lower than 7.22% last week. This decrease is attributed to a recent slowdown in job creation. The big question is, could this trend signify that rates are gearing up for a further drop? Stay tuned for further updates!
Connect with Us
For those of you exploring opportunities in the Columbus real estate market or simply seeking guidance in this evolving landscape, I’m here to assist you. Let’s connect and schedule a meeting, perhaps over a cup of coffee, to have a thorough discussion about your real estate goals.
Reach out to me effortlessly at 614-642-4880 or visit my website, “My Next Home Columbus.” I’m here to be your trusted partner in your real estate journey.
Further Your Home Search
Finally, if you’re in the early stages of your home search, I recommend checking out our video on the difference between pre-approval and prequalification. It’s a crucial step to ensure you are well-prepared and empowered in your quest for the perfect Columbus, Ohio home.
Conclusion
And there you have it, folks, the Columbus Real Estate Market Report. With Ohio State’s victory echoing through the city and the back-to-school energy in the air, it’s an exciting time to be a part of this thriving community. Remember, a trusted Realtor near you can be your guiding star in this dynamic market, offering insights, expertise, and personalized support to help you make informed decisions.
Once again, I’m Michael Dalton, your dedicated Columbus Realtor. Have an outstanding week, everyone!
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