Central Ohio Housing Report – May 2021

More records were set in May when the average number of days it took for a home to sell across central Ohio dropped to 14! The number of active listings did increase last month resulting in a higher number of sales as well. Read the full report below.

Homes Selling Faster Than Ever Before! 

The time it took a home to sell during the month of May dropped to its lowest point on record. According to the Columbus REALTORS® Multiple Listing Service, listed homes took an average of 14 days to sell.  

Days on market is calculated from the list date up until the actual day that the status is changed to Contingent, Pending, Temp off Market, etc. Days on market are the actual days that a property was Active.

“This is not necessarily how long the house has been on the market,” said Michael Jones, 2021 President, Columbus REALTORS®. “If an owner switches real estate agents, the number is reset. There are also occasions when a home is withdrawn and later relisted. This would also reset the DOM. However, REALTORS® are able to research the properties MLS history and can tell more effectively how long the property has been on the market.”  

Ten years ago, there were 17,603 homes for sale – 88 percent more than today, and yet home sales today are 50 percent higher. 

Market shares have also changed significantly over the last decade. In May 2011, homes under $350,000 accounted for 93.5 percent of the homes sold and it took an average of 109 days to sell. Last month, homes in that price range totaled 2,054, or 68.4 percent of the sales, and they sold in an average of 11 days! 

At the other end of the spectrum, there were 13 homes over $700K that sold in May of 2011 and it took an average of 251 days for them to sell. This year, there were 137 homes sold in that price range – a 592 percent increase in market share – and they sold in an average of 27 days!

“The dramatic changes in market share and days on market provide meaningful insight into the needs and wants of today’s home buyer,” added Jones. “And the fact that we have so many more buyers in the higher price ranges impacts the average market home sale price.”
The average sale price jumped 21.8 percent from to $315,127 and the median sale price rose from $233,000 to $275,000 which was an increase of 18 percent, year over year.
A welcome increase in new listings resulted in a rise in the inventory last month, even with an increase in home sales. New listings rose almost 21 percent from a year ago and almost eight percent from April.
The number of homes sales also rose 18.1 percent year over year and 7.1 percent from the previous month. And a healthy increase of 15.3 percent in contracts suggests strong home sales ahead for June.

May 2021 Housing Report

Columbus REALTORS® is comprised of over 8,700 real estate professionals engaged in residential sales and leasing, commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development and more.
The Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Morrow, Pickaway and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Marion, Muskingum, Perry and Ross counties.

Central Ohio Housing Report – March 2021

Buyers are moving quickly on any new listings that come on the market. In March, just listed homes jumped 51% over February which resulted in a 36% increase of homes in contract as well!

If you’re considering a purchase or a sale, we can help you navigate this hectic, multiple offer market!  

New listings jump fifty percent in March

After two consecutive months of new listing declines, homes added to the market in March jumped 51.1 percent from the previous month. The 3,094 homes listed last month showed a marked improvement from the 2,047 new listings in February and 2,187 in January.

Buyers moved quickly on the added inventory putting 3,289 homes in contract, up 36.2 percent from February and 8.2 percent from last year.

This left the number of homes available for sale at the end of March at 1,639, down 51.9 percent from March of 2020, according to the Columbus REALTORS® Multiple Listing Service

As a result, months supply remains at 0.6 which means that, if no more homes were listed for sale, it would take just a couple weeks to sell the available inventory at the current sales pace.

“Inventory levels remain at record lows due to the significant increase in demand for homes in central Ohio that we’ve experienced for the last ten years,” said Michael Jones, 2021 Columbus REALTORS® President. “Meeting that demand is a process and will take time.”

“As every seller creates an opportunity, we’re hopeful that more homeowners will enter the market as things open up this spring and summer.”

Despite the drop in pending contracts reported in February, home sales increased almost 30 percent last month putting the first quarter of 2021 about three percent ahead of last year.

The average home sale price rose to $272,723 during first quarter 2021, an increase of 13.1 percent from one year ago. At $233,500, the median sale price reflected a gain of 11.2 percent.

Although homes have been selling in about 25 days this year, the time it takes a home to sell is based on several factors such as location, condition, and price. 

Homes under $350,000 sold in an average of 20 days. Homes sold between $350,000 and $500,000 took about 33 days to sell. Homes sold between $500,000 and $700,000 sold in an average of 52 days and homes over $700,000 took an average of 64 days to sell.

Homes under $350,000 sold in an average of 21 days. Homes sold between $350,000 and $500,000 took about 39 days to sell. Homes sold between $500,000 and $700,000 sold in an average of 57 days and homes over $700,000 took an average of 68 days to sell.
The average home sale price was $266,893 in February, an increase of 13.4 percent. At $255,500, the median sale price reflected a 7.4 percent gain.
With demand significantly outpacing supply, most homes sold in February sold for more than the list price. Those home that did sell for more than asking price, sold for an average of five percent more.
“Many homeowners have been reluctant to open their homes for showing due to concerns about the pandemic,” added Jones. “We expect to see an increase in sellers entering the market this spring as more and more people get vaccinated.”
March 2021 Housing Report

Columbus REALTORS® is comprised of over 8,700 real estate professionals engaged in residential sales and leasing, commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development and more.
The Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Morrow, Pickaway and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Marion, Muskingum, Perry and Ross counties.

Questions to ask at an Open House or Showing

By Maddie Ogden

Open houses and house showings can be overwhelming, especially for first-time buyers. It is the first opportunity for you to see your potential new home. While these events are exciting, it is also the perfect time for you to ask important questions about the house.

You may be wondering, what sort of questions should I be asking? That is exactly what we are here for! Here are some questions you should ask both before and during an open house.

Questions to ask before the Open House or Showing

  1. How long has the house been on the market?
  2. Have there been any price reductions?
  3. Is it vacant? If so, how long has it been vacant?

Go over the following questions with your chosen real estate agent since they can be indicators of how desirable the property is.

  1. Why are the owners selling?
  2. Have there been any offers?
  3. When does the seller want to move?

Questions about the sellers expectations are also important to go over with your chosen real estate agent before an open house or showing. The answers to these questions hint at what the negotiation process will be like and how quickly the seller wants to close.

Questions to Ask During the Open House or Showing

  1. What are the house’s biggest problems?
  2. Has the house been tested for mold, radon, lead, and/or asbestos?
  3. When was the last time the roof was replaced?
  4. Is the house in a flood zone?
  5. How much do the utilities cost?

If you are seriously interested in purchasing the property, here is additional information about the community you may want to know. The answers to these questions will help finalize your decision to make an offer.

  1. What is the neighborhood like?
  2. What’s within walking and driving distance?
  3. Is there a Homeowner’s Association?
  4. What is the crime rate in the neighborhood?
  5. Where can I get information on the local schools?

Knowing information about the neighborhood is just as important as knowing information about the house.  If you don’t like the neighborhood the house is in, then chances are you will not be satisfied with the house.

Questions to Ask Yourself Before Making Your Offer

  1. Will my furniture fit here?
  2. What’s the cell signal like?
  3. What updates would I make, if any?
  4. Can I picture this house becoming my home?

Open houses and showings are an excellent way to gather information about a particular home that has caught your interest. Ultimately, you are the only one who can decide whether a house is right for you, or not.  We are here to help you find a home that is a perfect match for you!

Win-Win Contracts for Buyers and Sellers

Win-Win Contracts for Buyers and Sellers


Buyers and Sellers are traditionally thought of as adversaries, and while it’s true they often square off during negotiations, it’s possible for both buyers and sellers to win in one home sale! Part of the secret is to understand the other point of view so you can negotiate a winning compromise!

Home Buyers

Buyers are looking for a lower price, the home of their dreams with features important to them, a home that’s ready to occupy, a home in great condition, and a home that will be a good investment over time.

Home Sellers

Sellers are looking for a price that gives them a good profit, recognition of the value they see in their current home, an easy sale without having to do improvements or fixes, feeling that they’ve gotten the full value out of every improvement they’ve already made, and to feel that this house was a good investment and served them well.

How Realtors Negotiate Win-Win Contracts for Buyers and Sellers

Your REALTOR uses their knowledge of buyers and sellers to negotiate every day. The more you understand about how the negotiations work, the more flexible you may feel about meeting in the middle ground and allowing both parties to win.

For instance, rather than offering an opening bid so low that it can’t generate a counter-offer, your REALTOR may offer comparable homes that have recently sold in the neighborhood as proof that a lower price is reasonable. That gives sellers a reason to compromise.

Sellers may not want to replace the carpet or cracked bathroom tile at their expense as they are trying to move and close on the home in question. So, sellers may offer an “allowance” to offset the cost of new carpet. This provides them with more time, but acknowledges to the buyer that the carpet is getting older.

Perhaps the buyers are in a hurry to move in, but the sellers’ new home isn’t ready yet. The parties can close on the home and the sellers may agree to rent another home for a month until their new home is ready, or the buyers may agree to rent the home back to the sellers.  There are many solutions that can be found with a Realtor who is willing to dig deep and find the key negotiating points.

Take a deep breath and consider how you’ll feel when it’s your turn on the other side of the deal. Then get creative with your real estate professional to find solutions that create a win for both parties!

Should I Stage My Home?

is home staging necessary?



If you’re getting ready to sell your home you may be asking, “Should I stage my home?” Yes! Many buyers shop online first, and they eliminate homes based on photos alone. The first impression of your home could be the ONLY impression it makes!

Buyers tell Realtors all the time that they don’t like the photos, or that the house in question looks too dated, cluttered, small, or messy to consider. It may be in their price range and have all the features the buyer is looking for, but that first visual impression is crucial to catching the buyer’s attention and sparking their serious interest in a property.

Every homeowner works hard to personalize their home, to make it their home. It’s only human nature. But a buyer is looking at photos or walking through a showing trying to imagine personalizing your home to their tastes, their needs. A home with a strong personal style, outdated (no matter how lovely) décor, or a ton of mess and clutter is going to make it difficult for the buyer to picture themselves living there. So they don’t. They move on to another, more sale-ready home. Ultimately, these problems can lower the price you charge for your home. This is an issue that affects your bottom line!

A Home Stager can do two things for you. If you’ve already moved out, they can rent a few key pieces of furniture and knickknacks to make your empty house feel livable, thus encouraging a higher price. Or, more commonly, the Stager walks through your home taking notes of various changes she thinks would bring a higher price or make your home more attractive to buyers. This can be hard on you, especially since her goal is to de-personalize your lovingly decorated home! But it can earn a higher selling price.

Here’s the basics of Staging a home:

Get rid of clutter. The ultimate goal is to make it look like either a model home, or a magazine ad. Surfaces should be clear of clutter, floors should only have furniture and throw rugs, and your brother’s beer can collection needs to be put in storage for the duration of the sale.

Remove as much personality as you can. The stuff that makes your home yours is the stuff to put into storage for now. Family photos, collections, posters, unusual art, and even extra furniture can be stored during the sale process to make your home look cleaner, larger, and more inviting. This can even include painting a neutral color over that bright red accent wall or stenciled vine. Heartbreaking to undo what you did with love, but important to show your home well.

Clean, clean, clean. Remove any dirt or grime. Have the carpets professionally cleaned. Scrub the bathtub and replace any mildewed caulk. And if a wall is too dirty to wash? Paint it over. Your house needs to look as like a model home. And it doesn’t hurt to bake something right before a showing to make your house SMELL as good as it looks. (Take kids, pets, and litter boxes with you when you leave the house for a showing…it make a big difference.)

Update or repair problem areas. This can get a little pricey, but a good stager and your Realtor can tell you where you can get the most bang for your buck by renovating. It may be as simple as painting a bright wall neutral again, or it may be replacing torn carpet, or even remodeling a dated kitchen or bath. Perhaps spiffing up your curb appeal with some quick and simple landscaping. It’s worth hearing a neutral opinion before choosing what to work on and what must be “as is”.

We have a home stager on our team because your successful sale is important to us.