closings

Real Estate Review: May 2017

May was a busy month and home prices are setting records in central Ohio! We honored our fallen heroes on Memorial Day, showed our support for many new openings and attended events around the city. CCAD had another successful Senior Fashion Show, Columbus Cars and Coffee had their season opener at the Africa event center at the zoo, Columbus Startup Week was a huge hit and the North Market Apron Gala was a blast! There's a lot of construction going on, the roundup is here and CU has a fast forward for East Franklinton and the Scioto Peninsula.

Here are the national real estate statistics for May 2017:

The number of projected home sales rose to 5.7 million and the national median home price had an increase of 3.6% from last month to $236,000, which is up 6.7% from May 2016. The national average for a 30 year fixed rate mortgage is actually down to 4.03% which is a great incentive to buy in this seller's market! If you've been thinking of selling your home, now would be a great time. I would be happy to do a free Comparative Market Analysis so you can find out what your home is worth today. For specific questions on how these statistics affect you, please get in touch with me - pfjohnson@kw.com | 614.638.5817 

ColumbusMarket.jpg

The average sales price of home during the month of May in central Ohio was $227,783, which is 8.0 percent higher than one year ago (May 2016). Year to date (January through May 2017), the average sale price of a home in central Ohio is $209,217, which is 6.3 percent higher than the same period in 2016. These home prices are setting records according to the Columbus REALTORS® Multiple Listing Service.

There were 4,051 central Ohio homes and condos added to the market in May, which is a 14.3 percent gain over the previous month and 4.8 percent greater than May 2016. Even with the added listings, inventory (4,606) was still 18 percent lower than the number of homes for sale a year ago, leaving central Ohio with a 1.7 months supply at the current sales pace.

These are the highest sales prices we’ve ever seen in central Ohio. Home values continue to soar and now is a better time than ever to put your home on the market if you’ve considered selling.
— 2017 Columbus REALTORS® President Mic Gordon

There were 3,177 central Ohio homes and condos sold during the month of May, which is 28.2 percent greater than the previous month although a slight dip of 0.8 percent from May 2016.

Homes spent an average of 33 days on the market in May, which is 12 days fewer than the previous year and 7 days less than April. This is a new record low for the central Ohio housing market.

It’s incredibly positive that new listings are increasing, however inventory continues to remain near record lows,” Gordon said. “We’ve seen inventory drop year-over-year for 76 straight months now.

According to the latest Housing Market Confidence Index by the Ohio Association of REALTORS®, 81 percent of central Ohio REALTORS® describe the current housing market as strong, and 69 percent expect it to continue this way over the next six months. As for home prices, 98 percent expect prices to rise over the next year.


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 – May 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.

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.

infographicApril.jpg

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.

Real Estate Review: March 2017

The real estate market is insane right now and Columbus is NO exception! Don't just take my word for it, Columbus made the Forbes list of Where to Invest in Housing 2017 and was #5 on Realtor.com's list of Top 10 Cities Where Downtown Is Making a Comeback not to mention the statistics I've compiled for you below.

Low inventory is still the biggest issue in the market, if you have been thinking of selling there COULD NOT BE a better time. Not sure what your home is worth? I've got you covered, click here for a complimentary, no pressure, personalized estimate. If you are planning on buying, I'll be honest it can be tough right now. However, with the right planning and real estate agent in can be done and with low interest rates it's still a great time!

My client testimonial for this blog is extra personal and I'm very excited to share that my husband Jesse and I purchased our first home in Clintonville! The journey to buy our own home is actually how I met my wonderful mentor Bruce Dooley and became a REALTOR®. After helping so many other people find their homes, I was ecstatic to finally be the buyer. We put in many offers along the way and beat out 8 offers to get in this particular home, but it was SO worth it!

Here are the national real estate statistics for March 2017:

The number of projected home sales rose from 5.5 million to 5.7 million! The national median home price had a slight decrease of 1.9% to $228,900 which is great for buyers. Thinking of selling? The great news for you is that the median home price is up 7.1% from this same time last year, so if you've been waiting now is the time! The best news for everyone is that the national average for a 30 year fixed rate mortgage is down from 4.19% in February to 4.15% making it an excellent time to get a loan and keeping the market moving. For specific questions on how these statistics affect you, please get in touch with me!

There were 2,531 central Ohio homes and condos sold during the month of March, a solid 50.8 percent increase over February and a 3.9 percent increase over the same month a year ago. 

This was the highest number of home sales on record for the month of March as well as the highest sales for the 1st quarter according to the Columbus REALTORS® Multiple Listing Service.

infographicMarch.jpg

The average sale price of a home in March was $203,924, up 6.8 percent from one year ago and 7 percent from February. The median sales price was $170,000 a 4.3 increase over March 2016. 

The average sales price is the total volume divided by the number of homes sold. The median is the midpoint -- half the homes sell for less, while half sell for more.

The record home sales that we’re seeing is a direct reflection of the strong job growth here locally as well as low interest rates for mortgages. Home sales could have been even stronger, but inventory limited growth.
— 2017 Columbus REALTORS® President Mic Gordon

There were 3,372 central Ohio homes and condos added to the market in March, which is a 4.1 percent decrease from March 2016 and the lowest number of new listings recorded for the month of March, when inventory traditionally begins to climb. 

We keep thinking the inventory couldn’t get any lower – but it continues to decline,” Gordon said. “Even with the addition of new listings, inventory dropped to just over 4,200 at the end of March making it the 74th straight month of year over year decreases.

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.

“The tight supply of for-sale homes is helping to push prices upward,” said Gordon. “Homeowner should give serious consideration to selling under these advantageous conditions.”


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 – March 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.

Columbest Year In Review - Happy Holidays!

shortnorthpole.jpg

The Columbus market is finishing the 2016 year strong and "is proving to be one of the best years ever for the Central Ohio real estate market" said 2016 Columbus REALTORS® President John Royer. 

We continue to have record numbers of home sales each month and the demand for homes continues to be exceedingly strong.
— Columbus REALTORS®

There were 2,227 central Ohio homes and condos sold during the month of November, a 15.8% increase over the previous year, according to the Columbus REALTORS® Multiple Listing Service. Year to date (January through November), home sales are up to 29,196 which is 7.1% above the same period in 2015. 

As the cold weather and holiday frenzy sets in, inventory naturally decreases. 2016 was dominated by a seller's market due to low inventory and low interest rates for buyers. Even though interest rates are starting to come up they are still historically low making it a great time to purchase! For all of my sellers out there, 2017 will be a great time to list with all the buyers the new year will bring and the buyers that were unable to find their dream home last year and are still hunting. 

My husband Jesse and I want to thank all of our wonderful family, friends, customers, clients and vendor partners for their support. Jesse celebrated the opening of another location for his business STORE 5a at Easton Market. We are so blessed and looking forward to the New Year!

Real estate offers flexibility, financial freedom and the ability to work as hard as you want to achieve your goals! There are no limits to your success and many different ways you can work and run your business. If anyone has questions about the industry as a client or potential job please reach out so we can talk and I'll help in any way that I can. Keller Williams is a fantastic brokerage and I've been very happy with the support, training, technology and events that are available to me. In addition to residential I am pursuing my KW Commercial designation to be mentored and learn more to better serve all of my clients. I have also joined the Keller Williams Young Professionals and helped them officially launch their Columbus Chapter! 

2016 has been a great year full of learning, open houses, happy hours and helping buyers find their dream homes! Here are some fun highlights below. From my family to yours, we wish you a very Merry Christmas and a Happy New Year!

To keep up with the exciting things happening in 2017 follow @columbesthomes