Phew…. This market is crazy! Having been in real estate for 17+ years this is the craziest market I’ve seen, so I went to talk to my colleagues for 40+ years and asked, “Have you ever seen anything like this? ” The answer has consistently been a resounding, “NO!”. As you can guess, the market hasn’t slowed down. Have we had some more much needed listings come on the market? Yes we have. Has that solved our inventory issue? NO!

As you can see above, the new listings rose by 22.5% compared to the first 2 weeks of June 2020. That was followed by an increase of 27% increase in the pending listings. So we should continue to expect the sold homes to increase year over year. This is all happening in addition to an explosion of new build sales that typically don’t show up in these numbers.

Overall, my long term outlook is very strong for Columbus. With an increasing population (the forecast is for that trend to continue), a group of young people who have rented longer than average and are now wanting to buy and what I like to call the “divorce effect” there is no end in site to increasing demand here in Central Ohio. Next month I will explain the divorce effect as well as one of the reasons why we are so tight on inventory here in Central Ohio.

Thank you for reading! We are so grateful for you! I’m always happy to jump on a call or do a quick loom video to update you on the value of your home or what is happening in your neighborhood. If you aren’t already receiving my monthly market update for your neighborhood, let me know and I will get you set up!

Troy

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