Key takeaways:
- After an unprecedented pandemic and a record year for home sales, Central Ohio’s real estate boom will continue into 2021.
- As fewer homeowners decide to list, buyer demand has increased, making the market even more competitive.
- Thinking about buying or selling this year? Contact our team to get started—we’re here to help!
What You Need to Know About Central Ohio’s Real Estate Market
Last year, real estate as we knew it came to a halt due to the COVID-19 pandemic. However, it didn’t take long for the Central Ohio market to rebound—and it recovered faster and stronger than anyone expected!
Wondering how the real estate market will fare for the rest of 2021? Here’s everything you should know before listing your home or starting your search.
Current homeowners should list now to cash out on their equity
Own a home in the Columbus area? If so, you could stand to make an impressive profit should you decide to sell soon. As of late January, Central Ohio had just a 0.6 month (-50% from 2020) supply of homes, while home sales are up more than 10% since last year. The average sale price for the Columbus MLS also skyrocketed by more than 15% year-over-year.
To put it simply, there’s never been a better time to list your home. Most properties in the area sell within a few weeks, and you won’t face as much competition from other sellers.
It’s more important than ever for buyers to work with a top-notch agent
It’s no secret that Columbus is a seller’s market right now, but it’s still possible to find the home of your dreams at the right price. Although inventory may seem tight, we saw almost a 20% jump in new listings during January 2021. This trend could continue, especially as we reach the busy spring real estate season in Central Ohio.
Now more than ever, it’s crucial for buyers to work with a great agent. If you’re looking for some hyper-local advice, feel free to check out our home-buying resources, as well as our handy search tool!
Bottom Line: Central Ohio’s Market Has Never Been Hotter!
The numbers don’t lie: more and more people want to live in Central Ohio! Despite record-breaking buyer demand, inventory has reached an all-time low—so if you’re thinking about selling, now is the time to list. However, many buyers are still achieving their real estate goals with the help of a great local agent.
Work with Columbus’s Top Real Estate Team
Whether you’re thinking about buying or selling your Central Ohio home, the DeLena Ciamacco Team is here to help. We have resources to streamline every step of the transaction, and we’re always here to answer your questions. Give us a call for even more information—we look forward to hearing from you!