Real Estate Market Columbus OH April 2020 - HER REALTORS®

Dated: April 17 2020

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Real Estate Market Columbus OH April 2020 - HER Realtors

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Central Ohio has had a very impressive 1st quarter 2020 in real estate sales, outperforming 2019's sales. January 1, 2019 through April 17, 2019 saw 7,280 total sales ( data provided by the Columbus Board of Realtors Multiple Listing Service ). During that same time frame this year ( 2020 ) there have been 7,555 total real estate sales. These numbers include the greater Columbus Ohio Market with neighboring cities including Pickerington, Dublin, Grove City, Westerville, etc. Looking at just Columbus OH, there were 2,343 total real estate sales in 2019 ( Jan 1, 2019 to April 17, 2020 ) and 2,480 in 2020 during that same time frame.

Covid-19's Impact on April 2020's Columbus OH Sales

So, far we haven't seen a great impact on sales numbers in April vs. last year ( 2019 ). However, we are seeing a small dip in the number of homes sold for the month of April 2020 vs. April 2019. There were 1,376 recorded properties sold in Central Ohio in April 2019 ( April 1st to April 17th ). In April 2020, there have been 1,121 properties sold ( April 1st to April 17th ). We think the reason for the small change in sales is due to sellers waiting to see what happens with the Covid-19 Crisis. Some sellers may not want people walking through their home as well. Whatever the reason, the real estate market remains to be very good in Central OH. In March 2020, Realtor.com ranked Columbus OH as the 7th hottest real estate market in the United States!

April 2020 Real Estate Values vs. 2019

The prices are higher in April 2020! You'd think the Coronavirus might have some impact on sales prices but it hasn't so far. Things in Ohio started changing in March 2020 ( business's closing, residents being asked to stay home, fear and worry looming ). So, we should start seeing the affects of the Covid-19 in April 2020. The average sales price in April 2019 in Central OH was $236,000. However, in April 2020, the average sales price is a lot higher at $253,000 ( information provided by the Columbus Board of Realtors MLS )! And, real estate properties are selling 3 days faster vs. last year in April. 

Columbus OH Home Inventory

Inventory remains to be very low in Central Ohio. Currently there are only 3,240 real estate properties listed for sale on the Columbus OH MLS. Real Estate in April 2020 is selling in 30 days on average. In April 2019, properties took longer to sell on average ( 33 days ). 

Bidding Wars Still Ongoing

Recently, Sam Cooper HER Realtors listed one of his homes to sell. Sam listed a home April 10th 2020 and in less than 24 hours had 7 offers on the table. All offers were OVER list price. Eventually, the winning bidder was under contract to purchase the home $15,100 over original list price, agreeing to purchase the home as-is, offering to cover a portion in cash towards appraisal shortage ( should that happen ). This story is not uncommon. This is actively happening on many other real estate listings as well.

Realtors & Brokers Are Taking Extra Precautions

Most Realtors now are screening clients before they show them homes. Buyers should be pre approved before seeing properties for sale. Also, if a buyer has felt ill or had a temperature within 14 days, it's important that they not look at homes for sale with Realtors. Showingtime, a showing service for most real estate brokerages in Central Ohio prompts Realtors before showing homes- advising them not to show properties if they've been sick or had a fever within the last 14 days. Overlapping showing appointments are no longer being approved by Showingtime as well. This eliminates having a group of people in someone's home during showings. Before Covid-19 it wasn't uncommon to have 30 showings a day on a real estate listing. At Central Ohio HER Realtors Offices, Realtors are having their temperature taken before working in the office. Some real estate agents are wearing masks, booties and gloves while showing homes. Title Offices are often seen closing properties outside of their offices while clients sign their closing documents in their car. 

HER Realtors Columbus OH

The Sam Cooper Team, HER Realtors are currently ranked #2 in Central OH for most homes sold. They are taking extra precautions while selling homes during this time. If you know anyone thinking of buying or selling real estate in Columbus OH or surrounding communities, please be sure to have them reach out to Sam Cooper (614) 561-3201. 

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Sam Cooper

#1 Selling Realtor in all of Central Ohio 2017-2019. The Sam Cooper Team, HER Realtors is the #1 Selling Realtor & Real Estate Team in Central Ohio for most homes sold since 2017. No other Realtor or ....

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