Big booms, fast-moving market, and hot summer weather. It must be time for the Columbus Real Estate Market Report!
Hello everyone, Michael Dalton, your trusted Columbus REALTOR©, here to provide you with the latest updates on the booming Columbus Real Estate Market. Even though last week was the Fourth of July, we still saw a lot of fast-paced activity in The Columbus Real Estate Market. Here is a look at the numbers
Currently, there are 2,691 active and coming soon properties on the Columbus Real Estate Market But here’s the exciting part: we have a whopping 3,366 properties in contract! That means that we have about a month’s worth of available inventory.
Last week, we witnessed 424 homes sold, with the average sales price at $362,512.96. The average selling price was $6,254 over the asking price! That’s fantastic news for sellers, as it demonstrates the competitiveness of the Columbus Real Estate Market.
What’s even more remarkable is the average number of days on the market, which dropped from 19 to just 15 days in the previous week. Homes are selling faster than ever, indicating the urgency for buyers to make their moves quickly.
Let me share a fascinating statistic with you about the Columbus Real Estate Market. A staggering 59% of homes that spent 5 days or less on the market averaged an incredible $374,595.69. That’s a whopping $11,619.11 over the asking price! If you’re looking to maximize your profits, selling quickly could be the key.
Fun fact, the most expensive home last week sold for $2.9 million on Sunbury Rd in Galena and went for $105K over the asking price. The most active zip code last week was Westerville’s 43081.
Now, let’s shift our focus to interest rates. According to Mortgage News Daily, the average interest rate for a 30-year fixed mortgage is around 6.96%. It’s important to stay informed about these rates, as they play a significant role in determining the affordability of homes.
That wraps up our Columbus Real Estate Market Report for this week. If you have any questions or if you’re thinking about buying or selling a home in Columbus, I’m here to help.
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Thank you for tuning in, and as always, I’m here to answer any questions you may have. See you next week and Happy House Hunting!
