Columbus homes sell for more than the list price in the hot market
COLUMBUS, Ohio (WCMH) – Demand for homes in central Ohio is causing buyers to write checks on the price of the sticker to enter the home they want.
Sue Van Woerkom, real estate agent at Keller Williams Capital Partners and president-elect of Columbus Realtors, says the number of homes on the market has remained stable, but demand has increased.
“In 2011, there were around 19,000 homes for sale [in central Ohio], but only 56% of them were sold, ”Van Woerkom said. “Today there are around 19,000 homes for sale. However, 93% of them were sold in 2020. So that’s the big difference, it’s demand.
Van Woerkom gave journalist Cynthia Rosi a tour of a house recently sold to Hilliard. The home was on the market for $ 279,000 and sold for above asking price at $ 321,550 with 17 offers in just a few days.
This has been a trend all year round, explains Marqué Bressler-Preininger, communications director at Columbus Realtors.
“Each month from July 2020 to May 2021 (except December 2020), the average selling price exceeded the average list price, meaning more homes were selling on the list than under the list price,” he said. Bressler-Preininger said in an email.
Market demand can be attributed to the recession, Van Woerkom said.
“About 10 years ago… about two-thirds of builders shut down during the recession and haven’t returned to the market,” she said. “And the land – is expensive and more and more distant. … Then we have people who want to go up, but where are they going to go?
“And if you take someone who’s busy in their career… and then you say, okay, sell your house. You’re going to get the best price, but I’m going to ask you to move into an apartment. And take your two dogs, and put your bike somewhere, and your kayak, and they’re like, “what? “”
Columbus residents also tend to be loyal to their neighborhood, Van Woerkom said. If a person lives in Hilliard, they want to stay in Hilliard – same with Gahanna, Upper Arlington, Westerville, Powell… the list goes on. But moving into a home that has been renovated can leave buyers with a lack of equity, she says.
“Sometimes when you buy a house that’s being remade you have to wait for the market to go up, or you can work in a house and let the market drive you up faster. “
There are wonderful, reasonably priced properties in Columbus, for buyers with vision, imagination and a spirit of adventure.
A couple she worked with, Dan and Laura (who declined to give their last name for privacy reasons) purchased a 4,700 square foot house built in 1910 near the airport. They told NBC4 in an email that the house was the home of a jazz pianist “who opened her house for the past 12 years where she lived here for monthly jazz concerts titled” Bungalow Jazz “.
“She invited jazz musicians from Ohio and the country to sit at the piano in her living room, tune the band and play concerts for the hundreds of people she packed into her first floor and space.” outside. As a longtime pianist myself, I was enchanted with this story (besides the beautiful and unexpected house!) And we knew we had to tear it up, if we could.
Dan and Laura say they lived on High Street in Short North before looking at the east side of town: “It’s no wonder the housing market is on fire in Columbus, as the town of the Arch has so many hidden gems and such a rich history. to offer.
“No judgment for the person who wants to live in the brand new tower or the new house in the outer belt, but there are so many homes and neighborhoods with character – and with something to teach you – tucked away in the city center . We are fortunate to have found our forever home in one of these neighborhoods – and we look forward to contributing to this story! “