Much of the housing news locally has been pretty good.
In a recent Builder Magazine article, it was reported that Columbus saw month-over-month gains in both new and existing-home sales as local real estate agents observed plenty of demand from potential buyers.
Throughout early 2023, Realtor.com consistently ranked Columbus in the top five of its Hottest Housing Markets, based on views per property on its website and the number of days a listing remained active.
What’s Hot
Here is a list of the Area Communities with the highest sales volume. As you see M/I Homes Market leader dominates the list with 7 out of the top 10
M/I Homes – One of the Beautiful Homes Offered at Hill Farm
What are prices doing?…….Mostly going up.
The average list price for a new detached home in Columbus increased 4.4% from 2022 to $458,220 in March, while the average list price for a new attached home decreased 22.1% over the same period to $370,833
Home prices rose a seasonally adjusted 0.45% from February to March, the third consecutive month of price increases, according to CNBC. Elevated borrowing costs are keeping would-be sellers at bay, and as a result, buyers are confronting a lack of new listings. In Columbus, the average list price for a new detached home in Columbus increased 4.4% from 2022 to $458,220 in March, while the average list price for a new attached home decreased 22.1% over the same period to $370,833, this may in part be due to the fact that the size of the detached home decreased
Surging demand paired with insufficient housing supply is leading to a competitive spring market. Not only are home prices rising as a result, but nearly half of all homes on the market are selling within two weeks; the highest share reported in nearly a year. Of the nation’s 50 largest housing markets by population, just Austin, Salt Lake City and San Antonio are seeing prices fall month to month. Prices in Phoenix and Dallas are flat.