Breaking News
More () »

Central Ohio housing demand at 'historic level'

The Columbus Realtors Association released its housing report. The association says the listings haven’t changed, but the demand has changed.

It is a seller's market when it comes to real estate in Columbus. The Columbus Realtors Association released its housing report saying "can inventory get any lower?"

“If you're looking into buying a house, I encourage you to have a hobby because you have a lot of stress built-up, so walking's been great,” said Zagrous Kawarizadeh, who has been looking for a home with his partner for the past year.

“I've probably viewed between 40 and 50 homes. I've probably made about 15 offers,” he said.

“The demand has definitely gotten to a high level, a historic level, quite frankly,” said Michael Jones, president of the Columbus Realtors Association.

Jones says 10 years ago about 50 percent of homes were purchased as soon as they came to market. Now that number is above 90 percent.

“Buyers have to be prepared to make decisions. We are not in the market that you can go back for a second showing,” said Jones.

The Columbus Realtors Association says that there's been about a 10 percent increase in the listing prices and then on top of that buyers are paying an extra 5 percent above that price.

“The listings haven't changed, the demand is changed,” Jones said.

The Columbus Realtors Association says there has also been an increase in home building. Since last year, they've seen more than a 30 percent increase.

Click here to see the Columbus Realtors Association's housing report.

Paid Advertisement

Before You Leave, Check This Out