Real Estate News
--> Ohio News
One out of three Columbus homes fetched more than list price
Yet more evidence that it's a seller's market: Almost one out of three central Ohio homes sold for more than their asking price last year. The real-estate company Zillow found that 32.9 percent of Columbus-area homes sold above list price in 2017 ...
Jim Weiker The Columbus Dispatch @JimWeiker
Yet more evidence that it's a seller's market: Almost one out of three central Ohio homes sold for more than their asking price last year.
The real-estate company Zillow found that 32.9 percent of Columbus-area homes sold above list price in 2017, up from 10.1 percent in 2016.
Central Ohio buyers who paid more than list price spent a median of $5,100 above the asking price.
Nationally, 24.1 percent of homes sold above asking price, up from 17.8 percent the year before.
In San Jose and San Francisco, California, two out of three homes sold for more than their asking price last year, the highest share in the nation.
Other metropolitan areas with with at least 40 percent of homes to sell above list price include: Seattle (52.4 percent); San Antonio, Texas (42.2); Sacramento, California (41.2); Portland, Oregon (41); and Boston (40.6).
"Low interest rates and strong labor markets with high-paying jobs have allowed home buyers in some of the country's priciest housing markets to bid well over asking price," said Zillow Senior Economist Aaron Terrazas in a news release.
"In the booming tech capitals of the California Bay area and Pacific Northwest, paying above list price is now the normIn the face of historically tight inventory, buyers have had to be more aggressive in their offersWe don't expect this inventory crunch to ease meaningfully in 2018, meaning buyers will be facing many of the same struggles this year."
Miami, Florida, had the lowest percentage of homes selling above asking, with 11.8 percent.
Nationwide, homes that sold above list price sold for a median of 3.1 percent, or $7,000, above the list.
In San Jose, buyers who paid more than asking price paid a median of $62,000 more, by far the most paid over asking price.
Never miss a story
Choose the plan that's right for you.
Digital access or digital and print delivery.
Sign up for daily e-mails
Trending Ohio News:
Dayton FD investigating rash of arsons in vacant homes, eight on one block
Greater Cincinnati ZIP code named priciest in Ohio
Ohio man convicted of indecent exposure for 6th time
Fewer Vacant Homes In U.S., But 3 Out Of 4 Belong To Investors
Husband and wife duo burglarize dozens of Geauga County homes
Ohio’s aspiring marijuana growers: A closer look
Growthpoint Properties Selects MRI Software's Commercial Real Estate and Investment Solutions
Mentor, OH Real Estate: Newly Listed Homes for Sale
More than 500 homes in Ohio listed as hazardous because of lead
Ohio has record home sales in June, highest since 1998
Standard Building, Drury Plaza, other Northeast Ohio projects win state tax credits for preservation
Sierra Club releases Ohio pipeline map
Lake County, Ohio, Signs Appraisal Services Contract with Tyler Technologies
Shelter pets find happy homes during Clear the Shelters
Few Ohio Water Suppliers Miss Deadline For Lead Pipe Maps
Harvey Hounds Arrive In New Jersey Seeking Homes
Republican Ohio treasurer drops out of US Senate race
Hillary Clinton to Target Donald Trump’s Economic Policy in Ohio Speech
Task Force to review state property
Returning land to private owners