If you listen to our local news, you’d think we were in the middle of a hot seller’s market. They have reported about houses selling in mere hours!
That’s great for those seller’s.Unfortunately, that is still not the norm for Central Ohio. The market doesn’t change that quickly.
The reports of houses selling quickly are true—for certain areas. These niche markets are markets that weren't affected as much by the down market, so it was easier for them to recover. The fact is that most of central Ohio is still in what would be considered a buyer’s market. Prices have not rebounded to what they were before the crash and demand is up, but not to the point where houses go in contract in a few days.
However, there are positive signs that show the market is changing. Supply is down slightly and demand is coming up. We’re on our way to a market rebound.