Columbus Home Buyers Show Deep Pockets as Prices Rise - Columbus Ohio Real Estate | Buyer's Resource Realty Services

Columbus Home Buyers Show Deep Pockets as Prices Rise

Columbus home prices buyersDespite rising prices, Columbus buyers eagerly snapped up home inventory during August. The last month of summer brought more new listings to the market, improving total inventory by 24% compared to August 2020. The average sale price was $308,087, up 10.4% from a year ago.

Buyers did not drag their feet. Homes spent an average of just 11 days on market in the Columbus Metro. Only the most expensive homes spent more than a few weeks on the market.

Here’s the breakdown by price range:

  • Homes priced $350,000 or less spent an average of 9 days on market
  • Home priced between $350,000 and $500,000 spent an average of 10 days on market
  • Homes priced between $500,000 and $700,000 spent an average of 17 days on market
  • Homes priced at $700,000 and above spent an average of 28 days on market

Interestingly, the price range of $500,000 to $700,000 has seen a significant reduction in days on market this year. Homes in this price range were spending about 40 days on market during June 2021, and as of August, that time has been in half.

Central Ohio remains a “seller’s market.” According to Columbus REALTORS©, 3 out of every 5 homes sold for more than the list price during August 2021.

Yet there are signs that Columbus home buyers are gently tapping the brakes. The pandemic ushered in an unprecedented level of home demand, as homes became all-in-one locations for living, work, school and entertainment. And while the pandemic is not over, the return of kids to classrooms, and adults to offices, has seemingly eased home buyer urgency.

We are still a long ways from a balanced market, and home buyers need every advantage they can get! Begin your home buying journey with our free e-book, “How to Buy a Home like a Pro.” It will save you money and headaches.

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

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