columbus real estate statisticsThe Central Ohio housing market opened 2015 with rising home prices, according to the latest sales statistics from Columbus Realtors. In January, the average sales price for a Metro Columbus home was $175,692. This is an increase of 10.6% compared to the same period last year.

Please keep in mind that the “average” home priced is based on the total volume of sales, divided by the total number of homes sold. The median price of a Columbus home was $141,500 in January 2015. A “median” price means that half of the homes sold for more than this amount, and half of them sold for less.

When comparing median price trends, January 2015 home prices were up by nearly 12% from a year ago. Any way you slice it, prices are trending higher.

The statistical inventory of Columbus homes for sale also increased, with 4.8% more homes on the market in January 2015, than in January 2014. Ideally, an increase in home inventory will help temper price increases. The more balance we have in supply and demand, the more moderate the price increases should be.

An important point to remember about home inventory statistics, is that there are always more homes on the market than what Realtor statistics reveal. Put bluntly, not all homes are listed by a real estate agent, and home sales do occur without their involvement.

Homes that are for sale by owner, and for sale directly by home builders, “don’t count” in Realtor statistics. This is just one reason why industry statistics are a general guideline, but not an infallible metric.

Meanwhile, the industry’s 2015 spring market predictions are optimistic, pointing to improved economic conditions, low mortgage rates, and growing employment. We are bound to hear some real estate sales hype as we hit the market’s peak season. And while the market indicators look promising, Columbus home buyers need to remember that each home is unique, just as their own needs are unique.

No matter how exciting a headline may get, or how compelling statistics may sound, a home purchase is a big decision that requires careful deliberation. You must be armed with local market information, pre-approved financing, and professional representation by an Exclusive Buyer’s Broker.

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
Broker, CEBA, CEBA-M, CNE, CSP, ABR-M, e-PRO, GREEN
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