I always try to avoid trying to “convince” people to buy a home and coming off as too “sales-pitchy”…but…numbers don’t lie. Home prices ARE going up. If you have the opportunity to buy, I suggest taking advantage of the market before prices go up more and while interest rates are low. Don’t believe it? Here are some stats released by the Columbus Board of Realtors on 2.21.13:
January home sales highest since 2007
Central Ohio home sales during the first month of 2013 were the highest for January since 2007 just before the housing market began to feel the effects of the economic recession. The 1,374 closings exceeds the previous year by 20.4 percent (1,141) according to the Columbus Board of REALTORS®.
“Housing activity was up abnormally high during the traditionally slower months at the end of the year,” said Chris Pedon, President of the Columbus Board of REALTORS®. “So we’re not surprised to see such a jump in closings last month.”
Home prices hit their lowest in several years during the recession but are well on their way back. The average sale price of a home sold in central Ohio in 2012 was $167,459, which is 7.2 percent higher than in 2011.The average sales price ($149,477) jumped 5.1 percent from January of 2011 and the median sales price ($129,000) was up 5.3 percent.
New listings as added to the market in January totaled 2,578, which is down 6.0 percent from last year. The number of homes for sale in central Ohio is down to 8,935 – the lowest since summer of 2002.
“We’ve watched inventory dwindle steadily over the last year as demand continued to grow,” added Pedon. “Homeowners that have been waiting to move up, or tried to sell their home a few years ago, should seriously consider listing their home. It’s a whole new game out there today.”
So you think now is a good time to buy? We agree! From Hilliard to Granville, Lewis Center to Grove City…and everything in between. We can help! Check us out at http://www.greatercolumbusohiohomevalues.com/!
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