Columbus Metro Home Inventory Down by Over 50% during March - Columbus Ohio Real Estate | Buyer's Resource Realty Services

Columbus Metro Home Inventory Down by Over 50% during March

Metro Columbus real estate newsColumbus metro home buyers saw an improvement in home inventory in March compared to the prior month, but inventory remained significantly lower than a year ago. On a year-over-year basis, the March 2021 inventory of Columbus metro homes for sale was 51.9% lower than March 2020.

Consequently, Central Ohio homes in all price ranges sold at a brisk pace, picking up speed from February:

  • Homes priced under $350,000 = 20 days on market
  • Home priced over $350,000 to $500,000 = 33 days in market
  • Homes priced over $500,000 to $700,000 = 52 days on market
  • Homes priced over $700,000 = 64 days on market

Double-digit home price increases continue to be part of the landscape. The average home sale price in the Columbus Metro reached $272,723 during the first quarter of 2021, an increase of 13.1% over the same period last year.

These figures do not include homes sold by owner, or homes sold directly by builders, or any transactions happening outside of the Columbus Regional Multiple Listing Service.

This is a very challenging market for Columbus home buyers. And while there is an expectation of more sellers joining the market as pandemic concerns recede, inventory levels may never quite reach the norms of the past.

There are multiple reasons for this, which we will address in a future blog post – but one of the paradigm shifts are the number of single-family homes that have been acquired by investors since the Great Recession. While investors provided much-needed stability to the market in those days, the genie has never returned to the bottle.

Columbus home buying is challenging, but not impossible!  When you become our Buyer-Client, you have advantages that are not available through typical real estate agencies. For an example, download our free e-book, “How to Buy a Home like a Pro!”

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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