Columbus Ranked #10 Hottest Real Estate Market in the U.S.
Crazy, right? Columbus joined the ranks of cities in California, Colorado and Texas. Ann Arbor and Columbus were the only Midwestern cities on the list. (San Francisco was #1.)
According to a new report, the Columbus real estate housing market has officially cracked the national Top 10 list. Realtor.com unveiled an analysis that evaluates how quickly homes are selling and where demand is strongest based on information from the month of April 2016.
“The Midwest region is representative of the status of the broader U.S. recovery,” said Jonathan Smoke, Chief economist of realtor.com. ”When Columbus is the 10th hottest market in the country, you know that the Midwest — and the US overall — is back and doing well.”
The median list price recorded for the Columbus metropolitan area was $179,900 for April 2016, with an average of 46 days on the market. Nationally, homes are selling five days faster than in April of 2015, with four percent fewer homes on the market for sale compared to the same month last year.
“Pent-up demand, lower mortgage rates, and strong employment continue to power the strongest and healthiest real estate market we have seen in a decade,” added Smoke.
Even conservative urban analyst Joel Kotkin named as one of the country’s top “Boom Towns” for 2016.
And good news for those of you who need to sell their home -- the National Association of Realtors reported that home prices in Columbus have climbed 7.2 percent over the past year.
How does this effect you? It means you need an honest and experienced agent to help you navigate through it all. Call or email us anytime -- even if it is just to help you make sense of what is going on in the market!
For more information on the study, visit www.realtor.com. Article originally published on www.columbusunderground.com.
Rhiannon Ferrari | email | [email protected] | cell | 614-226-1039