October 2016 Hilliard Market Report
Real estate market data for Hilliard, OH provided by Jim West of Keller Williams Capital Partners.
Hilliard Ohio Home Prices
Home prices in Hilliard and central Ohio have hit an all time high and don’t expect things to slow down anytime soon. Home prices have increased for the 55th straight month. Inventory levels have decreased for the 35th straight month. If you are considering buying a home you can still find deals on a house in Hilliard but having a good real estate agent who understands the market is a must. Don’t wait on the sidelines for too long, most of Hilliard's listings are selling within a few days of hitting the market. As you can see from the graph below, listings are not selling exactly for asking price. To make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Hilliard home on which you are making an offer.
If you are interested in how much current inventory is on the market in Hilliard you can find that information by clicking on the link. Our inventory continues to be at its lowest point since 2000. This low inventory will suggest that homes are not staying on the market for very long. Currently in this area of Hilliard, homes have a phenomenal median time of 22 days on the market before they sell, an amazing decrease of 26.7% the same month last year. This would suggest that sellers are in a great position to make stronger counters to offers on a home.
Sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers. Low inventory in Hilliard has multiple offers coming in on homes similar to what we saw back in 2005. I wouldn't expect home prices to run up quite as fast as they did back then, as banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse. But low inventory is one indicator that prices should continue to rise and current inventory is down by 14.3% from the previous month. Please see the chart below for current inventory level.
P.S. We try to update the Hilliard Market Report every month. Please let us know if you have any questions.
Points of Note:
- 200 closed sales
- 1.0 months supply of inventory
- $226,877 Average Sales Price
Hilliard Ohio Real Estate Report Summary
The median list price at time of sale in September for single family homes in Hilliard was $210,000.
The median list price increased by 5.0% from the same month last year.
The sales price per square foot for listings in this area is $121.26.
The median sale price in August for single family homes was $204,450. The median sale price was up by 2.0% from the same month last year.
The price per square foot for sales in this area was $127.40, up 3.8%.
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