Columbus has been named the hottest real estate market in the nation by Realtor.com, just as the high-season of home buying begins. And there are no signs of it cooling off anytime soon. Ryan Marrie, President of Ohio Real Title says “The demand is there and I expect it to be there all year. I think the overall market is positioned for a strong 2019.“
Strong job growth throughout Central Ohio, along with low interest rates, have created an increase in demand, but a short supply of homes on the market is driving up the prices, creating a true sellers market. Marrie notes that “…Inventory remains a challenge as we head into spring but I have not seen demand this high since the recession. Prices are going up but interest rates are at very low levels.”
Originally founded in Cleveland, Ohio Real Title expanded to the Columbus market at the end of 2017. “I love where Ohio Real Title is positioned.” Marrie continues, “Last year was a year of growth and we are poised and ready to take advantage of all the hard work put in over the past year.”
The Realtor.com ranking reflects a combination of the number of days on the market and the frequency that listings are viewed, both of which are indicators of buyer demand. And while California holds the biggest number of spots in the Top 20, Ohio not only claimed the top spot, but also had Akron and Canton come in at No. 16 and 19, respectively. While ORT’s original home of Cleveland did not make the list, both it and Cincinnati were among the large metros that showed the most year-over-year improvement.
According to realtor.com Chief Economist Danielle Hale, “Columbus is superaffordable, with a median $249,900 compared to the national listing price of $300,000, which attracts a lot of younger buyers.” Despite hearing of a possible shift coming, Columbus real estate agents are confident that the market is going to stay hot.