Greetings, I am Michael Dalton, your trusted Columbus REALTOR©, bringing you the Columbus Real Estate Market Update for the week of March 20, 2023. During the past week, the Columbus Real Estate market witnessed an active week, with 452 homes sold and 2,057 going into contract, making it the third busiest week of 2023!. The average sale price of homes in Columbus was $337,454.53, and the average duration on the market was 35 days.
Almost half of the homes in the Columbus Real Estate Market, that is, 46%, were sold within five days, priced closer to the shifting market, at an average of $365,503.38, and for an average of $25,502.94 over the asking price! As interest rates have increased, it is best for buyers and sellers to collaborate.
Some buyers are opting for a mortgage rate buydown to reduce their borrowing costs, which lowers their home loan rate for a few years or the loan’s life. Some sellers are covering closing costs to help the buyers.
Contrary to what you may think, the Columbus Real Estate market is hot! Columbus was ranked in the top 10 emerging housing markets in the United States by the Wall Street Journal & Realtor.com. The Columbus Real Estate market also recently rose to No. 3 on the Hottest Housing Markets List per realtor.com
If you need any assistance, please do not hesitate to contact me at 614-642-4889. Thank you for tuning in, and I look forward to seeing you next week!
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