Central Ohio Housing Report: March 2014

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With 5 consecutive days of warm weather, I’m calling it: Spring has sprung. There are flowers on the trees, the grass is green, and my nose will not stop running. Realtors know what it means when Spring comes around — it’s time to get that house that you’ve been vigorously cleaning and updating all winter, on the market. Spring is arguable the best time to put your house on the market. With schools winding down, and the warm weather making the moving experience tolerable, typically houses sell in Spring.

Columbus Realtors report that in March the houses on the market went up 48.3% from February, and that number is sure to rise in April. Milt Lustnauer, the 2014 president of the Columbus Realtors, weighed in on the matter saying, “After one of the coldest winters on record, many sellers were waiting to put their home on the market, it’s a great time to sell a home due to the lack of inventory available.” But it’s also a great time to buy a home as interest rates are likely going to increase. Buyers can undoubtedly get more home for their money today than they will be able to tomorrow.”

According to the Housing Market Confidence Index, 95% expect housing prices to rise over the next year. The Columbus Realtors report that the average, year-to-date home sale in Upper Arlington is $325,577.

The McVey Team can attest to some quick sales as we closed on a two houses over on Easter Sunday. The buyers are definitely ready and willing, the inventory is just not there. If you are thinking of selling, it might be a great time to do so, before the market becomes flooded in the coming months. If you want to get the most money for your home click the below links, and we will be sure to accommodate your needs.

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