Columbus leads nation in home-value jump!
Big news for our Central Ohio real estate market! The Columbus Dispatch just came out with the following article. We knew it was a crazy busy year filled with multiple offers, low inventory, pricing increases, and frustrated buyers. As we begin a new year, consumers have lots of questions about how this affects them buying homes or selling homes, and what our market is going to do this year! Call me to chat if you have questions (614) 226-1039.
Columbus led the nation in one new measurement of housing in 2017, according to a new Zillow report.
The real-estate service found that the total value of central Ohio homes rose 15.1 percent to $152.3 billion in 2017. That’s the biggest percentage jump of any of the 35 largest metropolitan areas in the report.
The figure is the combination of the value of existing homes plus the value of new homes.
Zillow calculated that the total value of all U.S. homes ended the year at $31.8 trillion, 6.5 percent above a year earlier.
The value of real-estate in the New York and Los Angeles areas dwarfed other metropolitan areas. In Los Angeles, homes were worth $2.7 trillion at the end of the year, 5.7 percent more than the previous year. In New York, homes rose 7.9 percent to $2.6 trillion.