I see a lot of investors that are interested in Columbus OH. In state and out of state. We want to bring you clear data and update on what is going on here.
Columbus is now ranked the 4th hottest market in the U.S. Here is some data about the month of May in Columbus:
During the month of May, there were 4,394 homes and condos listed in central Ohio which is a whopping 18.8 percent more than April and 8.2 percent greater than the same month a year ago.
The average sales price of a home during the month of May in central Ohio was $235,133, which is 3.8 percent more than May 2017 and the average monthly sales price on record. The median sales price was $204,000, up 7.4 percent from a year ago.
This brought inventory to 4,471, an increase of 16.1 percent over April. Compared to a year ago, inventory is still down 3.3 percent leaving central Ohio with a 1.6 months supply of inventory at the current sales pace.
Provided by Columbus Board of Realtors
We hope you find this simple update useful.
Thank you for that useful information @AustinSteed. Definitely something to get the investor juices flowing.
Thank you for the info. Very interesting.
@Austin Steed what kind of investment properties to you like in Columbus? What kind do the investors you work with like?
We work with investors who are flipping currently, investors who are buying buy and holds in B- or C+ areas looking for high cap rates and some apartment buildings.
I personally like the idea of buy and holds in Columbus. Shooting for appreciation at a time when people are comparing home prices to 2008 I like the idea of steady safe cash flow.
@Austin Steed what areas of Columbus would you consider to be a good target for buy and hold?
I like the Blue collar areas such as Hilltop, lincoln Village, and Galloway for cashflow. A little bit more risky but could yield much higher appreciation I like areas in Southern Orchards, Olde Towne, Milo Grogan, and Old North.
Hope this helps!