Real Estate Review: April 2017

Columbus is on the rise in many ways - technology, development, the housing market, population and more! We are officially the #14th largest city in the nation, trailing San Francisco by just 10,000 residents. In the rankings for Ohio's largest cities these Columbus communities dominated the top of the list:


#1 COLUMBUS, up 9.3 percent to 860,090.
#2 Hilliard grew by 6,470, or 22.8 percent, to 34,905.
#3 Grove City grew by 4,146, or 11.7 percent, to 39,721.
#4 Delaware grew by 3,890, or 11.2 percent, to 38,643.
#5 Dublin grew by 3,817, or 9.1 percent, to 45,568.


It's such an exciting time to be in Columbus, Ohio! My husband Jesse, who is a local business owner STORE 5a, and I are very involved in the community and love supporting other business owners and organizations. In April, we celebrated Rowe Boutique's 10 Year Anniversary in the Short North, attended Startup Storytellers at CMA, Impact Social for Stonewall at Venue 614, Buckeye Lifestyle's launch party for their latest issue featuring Shawn Cunix at The Toybarn and The Short North Gala!

Here are the national real estate statistics for April 2017:

The number of projected home sales dipped to 5.5 million, however the national median home price had an increase of .5% to $228,400, which is up 7.7% from April 2016. The national average for a 30 year fixed rate mortgage is up slightly to 4.23% still considered historically low and helping to incentivize buyers in this sellers' market! For specific questions on how these statistics affect you, please get in touch with me!

The median list price of new listings for central Ohio homes and condos during the month of April was $199,950, an 8.1 percent increase over April 2016 and a 1.0 percent increase from March. This is a new record high according to according to the Columbus REALTORS® Multiple Listing Service.


There were 3,543 central Ohio homes and condos added to the market in April, which is a 5.1 percent increase over March, although a 10 percent decline over the same month a year ago.

This left inventory at 4,338 which was almost three percent higher than the previous month, but is still just over 19 percent lower than a year ago and has fallen year-over-year for 75 straight months. Unsold inventory is at a 1.6-month supply at the current sales pace (unchanged from the last three months).

The 2,479 central Ohio homes and condos sold during the month of April slipped 2.1 percent from the previous month, and 10.9 percent from April 2016.

Last month marked the first dip in home sales in nine months,” Gordon said. “There’s little doubt that the number of home sales would have been higher had we had more inventory.
— 2017 Columbus REALTORS® President Mic Gordon

Homes spent an average of 40 days on the market in April, which is 6 days fewer than March and 12 days less than April 2016.

The averages sale price of a home in April was $215,246, an increase of 7.1 percent over the same month a year ago and 5.6 percent above March.

If you’ve considered putting your home on the market, now is the time to do so as the warmer temperatures and longer daylight hours stimulate even greater buyer activity,” added Gordon.

During the month of March, central Ohio homes and condos spent an average of 46 days on the market, which is 6 days fewer than February and 13 days less than March 2016.

When asked about reasons transaction haven’t closed in the past year, 53 percent cited inspection issues and 30 percent cited issues rising from appraisals.

Article shared and all information sourced via the Columbus Board of Realtors. To view the original and for more info see below: 

Current housing report – April 2017
All housing reports

Columbus REALTORS® is comprised of over 7,600 real estate professionals engaged in residential sales and leasing, commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development and more.

The Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Morrow, Pickaway and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Marion, Muskingum, Perry and Ross Counties.