Cash Buyers Gain Ground in Columbus Real Estate - Columbus Ohio Real Estate | Buyer's Resource Realty Services

Cash Buyers Gain Ground in Columbus Real Estate

columbus cash buyersColumbus home buyers remain under pressure in the early months of 2022. The latest report from Columbus REALTORS® shows a continued rise in home prices, with a growing number of sales attributed to all-cash buyers.

The average sales price of a Columbus Metro home reached $296,489 in February 2022, an increase of 11.1% compared to February 2021. On average, homes spent just 24 days on market, which is a 2-day reduction from February 2021.

Statistically, home sellers received 100.5% of their original asking price during February 2022.

Perhaps the most telling statistic is the growth in all-cash sales. During the first two months of 2022, cash buyers accounted for 24.3% of all home purchases. Back during September 2021, cash buyers accounted for about 20% of sales. During 2020, cash buyers represented 16.1% of home sales.

Where’s the money coming from? Some analysts say that sellers with record-levels of equity are using profits to fund their new home purchase. In other cases, it may be stock market gains fueling cash offers.

But investor purchases have been picking up steam. According to Redfin, investors accounted for 17.4% of Columbus Metro home sales during the 3rd quarter of 2021. In fact, Columbus ranked in the top 20 U.S. metros for real estate investors. Unless we see a significant increase in home inventory, this will be another challenging year for Columbus home buyers.

Working with an Exclusive Buyer’s Broker gives you advantages and opportunities you won’t find with a traditional agent! We can show you any home on the market, including For Sale by Owner and direct sales by home builders. We have unique buyer strategies to help you make competitive, compelling offers without breaking the bank.

As your Exclusive Buyer’s Broker, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.

Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!

Contact us with your home buying questions! Remember, we are with you every step of the way…all the way home!

Andrew Show
Exclusive Buyer’s Broker, CEBA-M, MCNE, CSP, PSA,e-PRO, CREM, ABRM, AHWD
Buyer’s Resource Realty Services
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

Previous post:

Next post: