Central Ohio Home Sales Climb To Highest Rate Since 2007
Molly Rankin is looking for her first house because she’s getting married in May, but the search is harder than she expected.
That's because local home sales are up more than 20 percent from a year ago, according to the Columbus Board of Realtors.
Realtor Board President-elect Milt Lustnauer, who is also Rankin's realtor, said there are 9,000 homes for sale now, compared to 15,000 two years ago.
“There's not as many distressed properties as there used to be. And two, there's not as many new properties coming on the market as the current ones are being sold,” said Lustnauer.
Lustnauer said that has driven prices up seven percent, and with interest rates under four, more people like Molly are house-hunting.
He said all of these facts add up to a shortage of quality houses, homes in good shape and priced fairly.
“So it seems like the good homes are gone in a day or two, if that, and it just kind of leaves us scrambling for, for a home,” said Rankin.
"Sometimes they have to drop everything and go right out and look at that house, because it probably will be some competition, especially if it's one, staged well, if it's priced well, and it's in a good neighborhood,” added Lustnauer.
Rankin remains confident she will find the perfect fit.
Lustnauer said normally spring is the best time to put your home on the market, but because of buyer demand, you may do even better if you list it now instead of waiting a couple months.
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