Welcome to the Columbus Real Estate Market Report, brought to you by Michael Dalton, your trusted Columbus REALTOR©. In this episode recorded on Wednesday, August 9th, 2023, we dive deep into the latest insights shaping the Columbus Real Estate Market. Be sure to like, subscribe, and share this video to stay informed about upcoming episodes and help your friends stay in the know.

🔔 Don’t forget to stick around until the end for some exciting updates on home values and taxes that you won’t want to miss!

Key Takeaways:

🏠 Active Homes for Sale: The current market boasts a total of 2,874 homes that are either coming soon or actively listed for sale, providing a wealth of options for prospective buyers.

📆 Recent Activity: Over the past 30 days, 3,050 properties have entered contracts, while 2,728 homes have successfully found their new owners, leading to an available inventory of just over one month.

📈 Market Performance: In the past week, a noteworthy 622 homes were sold, commanding an average sales price of $375,000. These homes spent an average of 20 days on the market, translating to an approximate value of $207 per square foot.

💨 Quick Sales, High Value: A remarkable 48% of all homes sold within just five days or less, often fetching an average over-asking price of $10,736, reaffirming the connection between quick transactions and increased value.

💰 Expensive Sales: A pinnacle in the market, the most expensive sale last week reached an astonishing $3.5 million for a residence on Bombing Grant in New Albany.

🏘️ Zip Code Insights: Last week’s most active zip code was Westerville’s 43081, showcasing its popularity within the Columbus real estate scene.

🏡 Home Types Comparison: When comparing single-family homes and condos, single-family homes hold an average sales price of $330,500, with an average market time of 21 days. On the other hand, condos present an average sales price of $277,500 and an average market time of 15 days.

🏦 Interest Rate Update: As of now, the current 30-year fixed mortgage rate stands at 7.04%, indicating the importance of staying informed about mortgage trends.

Market Insights and Outlook:

The Columbus real estate market maintains its stability week after week, with consistent increases in home values. This upward trend is mainly attributed to the high demand and limited inventory, resulting in a staggering 16% surge in home values since January 2nd, 2023.

Navigating the Market:

With a persistently strong seller’s market, understanding these numbers is pivotal for both buyers and sellers. For expert guidance and support throughout your real estate journey, reach out to me at 614-642-4889. Let’s connect and discuss how I can be your trusted partner.

Home Values and Taxes:

Stay vigilant about potential shifts in home values and taxes. Home values are currently being reevaluated post-pandemic, and some cases even see a surge of up to 50%. While this doesn’t directly translate to a proportional tax increase, remember you can dispute the evaluation from the auditor’s office.

For a FREE monthly home evaluation, simply follow the link below. I’m here to assist you every step of the way.

Thank you for joining me on this insightful journey. Wishing you a fantastic day, and I look forward to sharing more valuable insights with you in the upcoming weeks! 🏡📈🔑

Contact me through:
📱Call/Text Direct (614)642-4889
📧Email: [email protected]
💻Website: www.mynexthomecolumbus.com

To search for homes in the Columbus area, visit us here:
https://www.mattcteam.com/property-search/search-form/

Want to check the value of your home? Click here:
https://mynexthomecolumbus.com/home-value-analysis/

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