August 14 2009

Homes for Sale - Columbus Market Conditions July 2009

by brook

Money Magazine-Best Places To Live

Looking for a new home in the heartland? Why not consider Columbus, Ohio? The diverse economy has placed this city on the “frequent magazine ranking” map; for example, Money Magazine once proclaimed Columbus the 8th “best large city in the U.S.” to inhabit, and called it “an emerging global city” for its strong presence in the finance, logistics, and medical research fields.

What will it cost to live in Columbus right now? As of the week ending August 10, Columbus Ohio real estate listings contained an inventory of 3,645 units with a median price of $124,900. This is a decline of 1.7% since July. As for new homes in Columbus, the median is $214,120 – a month-over-month decline of 0.1%. With no change since last month, Columbus, OH foreclosures are still at a median of $58,000. There is an inventory of 2,130 of these outstanding foreclosure deals.

It’s evident that Columbus is one market that has not yet hit bottom. This is great news for buyers, so the time to locate properties may be now.

 

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