Welcome Spring! I don’t know about you, but I’m ready for the grass to green and the flowers to bloom!
The first quarter of 2019 resulted in 5565 homes selling in Central Ohio, the average sales price was $223,118 which is 98% of the list price. Days on Market of sold homes has crept up to 43 – the market slow down that started June 2018 carried through into January 2019. But now, the market has amped up (could it be that interest rates have dropped 🤔?) to the frantic pace that we’ve associated with spring real estate since at least 2015.
With only 3411 homes currently active on the market, we have less than 2-months on inventory on hand. This makes for a firm seller’s market. That being said, the active available inventory has been on the market for an average of 91 days. This means that there are overlooked opportunities available for savvy buyers and that poorly presented homes are unattractive to buyers and will stay on the market longer. Homes are often considered unattractive because of poor marketing or because they are not priced competitively for this market.
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