📢 February Market Update – More Inventory & Spring Opportunities!

🏡 Key Market Highlights for February:
✔️ Median sales price: $305,000, up 1.9% year over year
✔️ Inventory: 3,716 homes for sale, a 32% increase from last year
✔️ Days on market: 43 days (slightly longer, giving buyers more time)
✔️ Homes selling at: 99% of the last list price

A significant portion of February’s sales clustered around key price points. About 22% of homes sold were priced between $300,000 and $399,999, while 19% of sales were $199,999 or below. Higher-end homes also had a strong presence, with 16% of sales in the $500,000+ range.

Mortgage rates remained steady, with the 30-year fixed-rate mortgage holding at 6.65% as of March 10. For a $305,000 home with a 20% down payment, the estimated monthly payment would be $1,566.39 (excluding taxes and insurance).

With the highest February inventory since 2017 and nearly 1,000 more homes on the market than last year, buyers have more options. Historically, sales jump from February to March, so now is a great time to make a move before the spring rush!

🔹 For Buyers: More inventory means more choices—now is the time to start your home search before competition heats up.
🔹 For Sellers: The market is still in your favor with just 1.5 months of inventory, keeping Central Ohio a seller’s market.