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2016 Real Estate Year in Review

Hello friends! 2016 was an incredible year in the real estate world! Columbus is no exception given the tremendous growth we have experienced.
Columbus at Dusk
Columbus Area residents know what a great city this is to live in, and the rest of the country is taking notice! Publications all over the country are honoring Columbus in dozens of the “Best of the BEST” lists! See for yourself in the articles below:

As mentioned in the above articles, the low cost of living and many business opportunities have the Central Ohio housing market booming! Check out the 2016 statistics to see just how much our market has grown:

  • Home sales up 6.8% over 2015
  • Average days on market was 43 (12 days fewer than 2015)
  • Average sale price broke $200,000 for the first time ever
  • Median Sales price was $170,000
  • Average sale price was up 6.9% over 2015

Information from the Columbus Association of REALTORS®

There are not enough houses for the amount of people wanting to buy in our area. What this means is that this is a great time for people selling their homes. Homes are selling in record time for record prices! If you have been thinking of selling your home, NOW is the time!

The market across the whole state of Ohio was up as well.

  • The average sales price in 2016 reached $163,503
  • The average sales price in 2016 increased by 5.1% over 2015
  • Every single market in Ohio showed an increase in sales activity in 2016
  • Every local market showed an increase in average sales price compared to 2015.

Information from the Ohio Association of REALTORS®

Nationally, existing home sales were also up. But in the Midwest sales have dropped slightly.

  • Across the U.S. existing home sales went up 3.7% over 2015
  • Sales price of existing single family homes was up 7.3%
  • In the Midwest single family home sales dropped .8%
  • Existing single family home sales price was up 6.2% over last year

Information obtained from the National Association of REALTORS®

As much as the Central Ohio market has increased, Carleton Realty also experienced our fair share of growth! 2016 was recorded as the best year in company history.

  • Our transaction volume increased 35%
  • Our sales volume increased 60%

2016 Cruise Formal

We credit our success to the hard work of our agents and the loyalty of our clients.

To wrap up…the housing market in 2016 was the best yet for home sales. 2017 looks like it will continue to be much the same, thanks to the Federal Reserve’s slow movement on interest rate increases. So for now, it is a fantastic time to sell a home, but be prepared to be competitive when buying one.

Want to start your own home search? Click HERE

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CARLETON REALTY has been helping clients buy, sell, and manage real estate including residential and commercial properties throughout Ohio for over 25 years. With over 200 agents and 8 administrative staff members working under an experienced licensed broker, our team offers extensive expertise and knowledge about your local real estate market. Our agents come from diverse backgrounds, and collectively speak over 20 different languages. Our team has the ability to help clients feel educated and empowered throughout real estate transactions who may have otherwise needed a translator.

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