Columbus, OH housing market

In Columbus, more than a quarter of home listings have already cut their price. Here is what that tells you if you are weighing a sale this year. A typical Columbus home is worth about two hundred seventy-four thousand dollars, up just over one percent from a year ago, so values are still edging higher. But look at what sellers are asking. The median list price is nearly two hundred ninety-seven thousand dollars, roughly twenty-three thousand dollars above what the typical home is actually worth. That gap explains a lot. Buyers have about one thousand eight hundred fifty homes to choose from, with roughly 980 fresh listings hitting the market this month, so they can afford to skip anything priced above its worth. And they are skipping. Homes that do sell are taking a median of forty days, and nearly 27 percent of active listings have already marked down. Here is the turn: this is not a falling market. Prices are up, just slowly. The sellers getting hurt are the ones who start high, sit for weeks, then cut to meet a market they could have met on day one. If you sell this year, price at what your home is worth today, not what you hope it might be. For a free estimate of your home's current value, visit Home Value Pros dot com.