Selling your Columbus Ohio Home in Todays Market

Posted by: Roger L.

Everybody I meet these days is always asking me "How is the real estate market doing today". It is not  a secrete we are in a buyers market these days. With the influx of homes that we have been experiencing for the past couple of years, and the rogue signing of foreclosures the banks have done; home prices have fallen nation wide. Even with this news in Central Ohio home prices have stabilized and even improved. According to the Columbus Board of Realtors there were 1605 homes sold in August which is 8.2% more homes sold then July. Homes sales for the 1st 8 months of 2010 are 9.2% higher then 2009. The average sale price of a home is up from $145,993 in January to 169,959 in August.While this is all great news it doesn't mean we are out of the woods yet.

      So the question is What makes a home sell and what keeps a home from selling?

Alot of factors come into play when we ask this question. Including

  • Location
  • Condition
  • Time of year the home is on the market
  • And who is trying to sell the home

With location if the home is in a area that home prices are appreciating; time on the market is going to be less;because buyers see value and don't want to miss out on it. If the home is  located in a depreciating market; buyers do not see value, and think they should wait for a deal so the home sits on the market. 

Condition comes into play because if the property needs alot of repairs done before the buyer can move in. It may not meet the buyers time line,or their budget, or they may not be able to get financing for the property.

Certain times of the year can also be a factor when selling a home. Such in December sales are typical down because of the holidays and people are busy. January and Febuary were affected this year because of weather and the snow. May and June are good months for sales; because kids are out of school for summer break and families have not started vacations and are out looking at houses.

Another important factor to consider when selling is exposure or who is selling your home.  if people don't know your home is for sale they don't know they can buy it. That is one reason why www.sellingyourcolumbusohiohome.com  advertises on 22 diferent websites and uses a mapped out marketing plan with every listing. (to get details on marketing plan go to website and click on marketing tab) 

We have covered the Columbus Market and why some home sell and other don't. To watch this blog in video format go to  http://www.youtube.com/watch?v=b0jIr12av9w

Last updated: 11.01.2010 12:42 AM