October 2023 Market Update

Hello October! Who is excited that it’s fall?? (Even though this week doesn’t feel like it.)

Here is your October Market Update for the Central Ohio area!

Inventory has risen 19 percent in the region, resulting in more options for potential home buyers.

There were 2,876 closed sales which is an 14.8% increase.

The average home lasted 18 days on the market but that number can be deceiving. Days on Market is just an average, and when you’re talking about 1,000s of homes, there are lots of variables as to why some properties sit and others sell on day one.

According to Freddie Mac, 30-year fixed-rate mortgages started the month at 6.9% but rose to 7.23% by the end of the month.

The median sale price, which reached an all-time high of $322,205 in June, sits at $316,995 in August.

In the monthly neighborhood spotlight, Blacklick saw a 32% increase over last year, with 62 sales in August. There were 59 closed sales in Marysville, a 44% increase over last year.

As always, if you have a question or are curious to know more about the market, feel free to message me any time!

-Laura