Do you see your favorite home for sale?

It’s already gone.

This fast-paced reality became commonplace for most homebuyers in the United States in 2021, but Columbus residents feel they are in a hurry more than anywhere else.

by Data collected and analyzed by ZillowHomes for sale on the Columbus market are currently moving faster than any other major city. In April, 74% of homes sold in Columbus were “pending” within a week. This is a statistic that is only relevant with Denver. Only 12% of Columbus homes took more than a month to sell in April.

On average, 47% of homes sold nationwide take less than a week to sell. This represents a dramatic change from a year ago, when the pandemic went into full swing and uncertainty put many buyers in a “wait-and-see” state of mind.

“The need for speed isn’t just felt by those looking for the most popular entry-level homes,” said Treh Manherz, a Zillow data analyst. “Of the cheapest homes, the majority (50.5%) signed contracts in less than a week in April, up from 34.1% in April 2020.”

High demand combined with low inventories are driving prices in many regions, including central Ohio.by April 2021 Central Ohio Housing ReportHome prices rose nearly 17% year-on-year to an average selling price of $ 291,900.

The Housing Report also reveals that inventories of homes for sale in the Central Ohio market fell 41.6% year-on-year, with only 1,939 homes available at the beginning of May. With 2,804 homes sold in April, the region’s inventory supply is less than a month and prices may continue to rise in the near future.

“Unprecedented housing demand is occurring in central Ohio, and we need to work hard to work together to reduce the regulatory burden on builders,” said the 2021 President of Columbus REALTORS®. One Michael Jones said. “Given that every time a new home is built, we add 2.9 jobs and $ 130,000 in tax revenue, which is our greatest benefit.”

Walker Evans

Walker is with Anne Evans, co-founder, wife and business partner of ColumbusUnderground.com and TheMetropreneur.com. Walker has transformed the local media into a full-time career over the last decade and has joined multiple boards and committees throughout the community.

According to Zillow, Columbus has the best-selling housing market in the United States

Source link According to Zillow, Columbus has the best-selling housing market in the United States