Home buyer enthusiasm didn’t fade with the change of seasons, according to September sales data from Columbus REALTORS®. Favorable mortgage interest rates, along with positive economic conditions, have kept buyers motivated. Here’s a look at the numbers!
On a year-over-year basis, the volume of Central Ohio home sales increased by 8.9% during September. Conversely, home inventory was down on a year-over-year basis, with 5.6% fewer homes on the market. The imbalance of supply and demand continues to result in rising home prices and shorter days-on-market.
While lower-priced homes typically spend the least amount of time on the market, expensive homes are selling briskly as well. In Central Ohio, we have well-qualified buyers in virtually all price ranges. Here’s how the days-on-market break down by price range, based on September 2019 statistics:
- Homes priced $350,000 and less: average of 26 days on market
- Homes priced from $350,000 to $500,000: average of 42 days on market
- Homes priced from $500,000 to $700,000: average of 59 days on market
- Homes priced $700,000 and up: average of 86 days on market
We discussed the competitive conditions for Columbus home buyers in our prior blog post. But as we can see by the modest days on market for higher-priced homes, buyer demand extends beyond entry-level inventory.
No matter your home buying budget, the representation of an Exclusive Buyer’s Broker will help you obtain the best possible price and terms on your home purchase!
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, www.buyershome.com
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
