09/20/2024
Fun fact: Did you know that even with rising inventory in central Ohio, the real estate market remains highly competitive? This means that both buyers and sellers can benefit from quick, well-planned decisions as demand continues!
Now, let’s break down the latest housing report:
The August 2024 Central Ohio Housing Report is out! Great news—mortgage rates have dropped to their lowest since early 2023, and there are more homes available for sale. The median sales price decreased slightly from $327,000 in July to $322,000 in August. Homes are still selling quickly, with the average time on the market staying at 22 days.
Although the number of closed sales went down a bit from 2,806 to 2,738, the number of homes available for sale (inventory) increased from 1.8 to 1.9 months of supply.
The Columbus housing market is still going strong and is expected to remain busy into the fall, thanks to the favorable mortgage rates. Thinking about buying or selling? You know what to do 🫵🏻
614.216.6057
For more details, check out the full article on the Columbus REALTORS® website!