Update on Columbus from a local RE team.
Hi all,
Me being an investor and my love for Bigger Pockets my team and I want to keep you as updated as possible with the Columbus housing market. Here is some data that just got sent out today about the month on June in Columbus OH. Note, Columbus was just ranked as the 2nd hottest market in the States. We are seeing all kinds of growth in this city and we want to keep you all updated.
Homes that were listed on the MLS only spent an average of 23 days on market. Which is our lowest on record, hint why we went to 2nd in hottest cities. This is 4 days fewer than in the month of May.
Remember how Robert kiyosaki was betting for the crash in 2017, well he does it every year... That didn't happen. "The average sales price of a home sold year to date (January through June) sold for an average of $226,669, up 6.6 percent from the first half of 2017.The median sales price for the first six months of 2018 was $192,500, up 7.5 percent." (Columbus MLS) We are still seeing very healthy returns on homes that someone might have purchase in 2017.
Columbus is still lacking inventory all in all. I have seen the number of active listings slowing grow from June to now but we still are less than June of 2017. "Even with a dip in new listings, inventory increased to 4,912, up 9.9 percent over May, but still down 3.2 percent from last June." (Columbus MLS)
I hope that you guys find this information useful.
As always if you are considering buying or selling RE in Columbus OH we love working with investors!
Have a great week,
Austin Steed