Columbus Real Estate Market Collapsing? Hardly...

When I look at the mainstream media these days I see countless doom and gloom reports about how our housing market is collapsing and there is virtually no hope. I know that if you have found this blog that you too have seen these reports... and most people blindly believe them.



The one thing everyone needs to know about the Real Estate market is that there really is no such thing as national trends. As the famous cliche' goes, Real Estate is about "Location, location, location". What may be true in South Florida's real estate market is certainly not true in the Columbus area. Likewise, what's true in the Youngstown market does not have a reflection in our market here.



Additionally, 2005 was the strongest market we've ever had in Real Estate. Last year we (Columbus) had the 3rd highest sales volume on record. Home values have increased over 33% since 1996. [source: Columbus Board of Realtors]

How many long term investments have you made over the last 10 years that have increased in value over 33%?



The issue with Columbus right now is inventory. We are still selling at staggaring rates, but there are also more homes in Columbus than ever. That has translated to an average time on the market increase of about 20 more days than a few years ago. Home prices are down from 2005 about 1.5 - 2% from the record levels of 2005.



Forbes.com recently rated Columbus as the 3rd most stable market in the country.

Based on Moody's Economy.com calculations, next year Columbus should boast the eighth-fastest sales rate of the 40 markets examined.

(credit to Forbes.com Amy Harris)

Basically, if you bought your home more than 5 years ago, you still have seen significant appreciation. Could you have sold your home a little more quickly in 2005 and for a couple grand more?

Probably, but look at it this way.

In this market you make up your equity when you make a smart purchase, not when you sell. I see it as a wash.



If you're thinking about selling, it takes an agent who will market your home better than other homes around you. Your home needs to stand out. I make that happen.

Email or call me today to see what I do to sell homes that 99% of other agents do not.