Columbus is all about bucking trends—especially when it comes to real estate. Home to just under 900,000 people, Columbus is the 14th largest city in the country and only getting bigger.
Long story short? Columbus is thriving—which is great for both buyers and sellers! Take a look at some of the latest numbers from the Columbus real estate market, and learn why now is a great time to jump into buying or selling.
Columbus is Growing
Did you know that Columbus is the only large northern city to boast a 10% growth since 2010? It’s true—the city grew by nearly 90,000 people within the past eight years and shows no signs of slowing down.
With so many new people moving into the city, it goes without saying that real estate here is highly competitive. On average, homes in Columbus receive 2 offers and sell within around 46 days, but more popular listings can sell in as few as three to four weeks. Compare that to the national average of 65 days, and Columbus is looking pretty active.
Home Prices are on the Rise
Home prices in Columbus have been consistently ticking up, rising 7.1% since last year, according to Zillow. Experts predict that they’ll see another boost this year, closer to 6.8%. Last month alone, prices were 12.5% higher than they were at this time last year! Currently, the median price of homes for sale in Columbus is $172,540, according to Movoto.com.
While all of those numbers sound like great news for sellers—and they certainly are—it’s still good news for buyers, too. The median price of a home in Columbus is still more than $100,000 lower than the national average. Not only that, but homes in the city typically sell for 2% lower than their listing price. So, even though prices are still rising, they’re lower than many other large cities in the country!
Top Neighborhoods to Invest in
If you’re buying (or selling), there are a few neighborhoods that are particularly hot in terms of popularity and appreciation. According to Neighborhoodscout.com, the most profitable neighborhoods to buy a home in include:
- N 4th St / E 2nd Ave
- N 4th St / E 11th Ave
- City Center / Franklin U
- W Broad St / Starling St
- N 4th St / Chittenden Ave
As far as pure price tags go, Upper Arlington is easily the most expensive neighborhood, with a median price of $379.9k, while Highland West is the most affordable, with homes coming in at $45k.
Your Columbus Area Real Estate Experts
The bottom line: whether you’re buying or selling, it’s a prime time for real estate in general in Columbus—and with years of local and professional experience, we can make sure you reach all of your buying and selling goals.