Hot Housing Markets (Best Housing Markets): Columbus, Ohio | #AskRigs (Sharyn Rigsbee)


– It is no surprise that Columbus, Ohio is one of the hottest real
estate markets right now. Keep watching. (techno synthesizer music) Hi there, it’s Rigs, a Realtor with Coldwell Banker King Thompson bringing you all things real estate
here in Central Ohio. Columbia is a hot market. Quite honestly, we have been
in the top 10 of the hottest real estate markets for months
and months and months now. But what does that all really mean? If you’re watching this video, you have some interest in Columbus for a whole host of reasons. Perhaps you are relocating
to Columbus for work. Maybe you just want a change in scenery. Maybe you’re moving here to attend one of our well-known colleges or universities, or quite honestly, you
just want to enjoy some of the great fun that Columbus has to offer. So what does that mean for
you if you’re looking to purchase a home or even
rent something here? Honestly, there is a lot of building and development happening right now. A lot of new homes being built. New subdivisions being built. Condos, and this is in our downtown area, as well as our Columbus
and suburban areas. Just a lot of building going on from a residential perspective, but also a commercial perspective. What’s really cool is the
Census Bureau released a report that said Columbus, Ohio is the 14th largest city in the US, and we beat out San Francisco. Population that they cited was about 892,000 people in our total
population here in Columbus, but what I thought was
even more astounding is that in the last year
we had over 10,000 people who have moved or relocated to Columbus. That is some pretty wicked growth, and they only expect it to continue growing over the next several years. So obviously, with that
rapid growth brings some concerns to a lot of people, myself included, around affordability, if we will still remain
an affordable city, and can the city infrastructure
handle the massive growth? Now, I am definitely
paying very close attention to our city government about this, so being our City Council and our Mayor. And actually, our City Council
President Shannon Hardin actually released his thoughts
through his social platform talking about when that
article was released that we are the 14th largest city, said, a focus for the city of
Columbus will be to ensure that we still have affordable housing, but to also ensure that our transit system can handle that growth. Now obviously, there’s a
lot of other moving parts, but those are really big things that if we lose those as a city
we lose the attractiveness of folks wanting to come to Columbus. So I’m just very thrilled that our city government is focused on that, and we’re gonna see how
that continues to evolve. So, what does that mean for you, again, if you’re looking to relocate? Well, I’ve said this in
one of my previous videos, but rent is going up,
and that is just part of a byproduct when there’s growth in a city. And so, finding affordable
options is gonna vary because it’s gonna be
different for each person, so be prepared for that. Obviously, it’s going to vary depending on what area of Columbus
you’re looking to look in or even some of the suburb
areas that you’re considering, but rents have gone up over the last year that I’ve certainly have noticed. Now, if you’re looking to
buy a home here in Columbus, what I can tell you is that in most markets it’s a seller’s market, which means there are more
buyers who are interested in purchasing a home
than there are sellers who are putting homes on the market. Now, for us here in Central Ohio, we have seen increased
inventory, and I mean, we have seen increased number
of homes hitting the market, but again, because we have more buyers who are looking to purchase homes, being first-time buyers or
not, we just have more buyers, so homes are going into
contract very quickly. Some, in many cases, within 24
or 48 hours of being listed, so it’s certainly a competitive market, so you’re certainly gonna
want to have a strategy if you’re looking to come
in and purchase a new home, or a home, excuse me, in this market. So let me just give you
a few quick stats here if you are looking to purchase
a home here in Columbus and you’re trying to
see what can you expect, the average median sales price in Central Ohio was about $213,000, okay? Homes are sitting on the market, according to the stats
when they look at it from a $350,000 price point and
below, for just under 30 days. But what I can tell you, that really competitive
price point right now sits right around about
150 to $160,000 or below, those are the ones that
I’ve mentioned to you that are literally going
into contract within a matter of 24 or 48 hours very easily. It’s because those are attractive,
affordable price points, if you will, for most people, and a lot of buyers who
are at those levels. So be prepared for that if that’s you. Now, we do see a lot of our new home builders are doing a lot, they’ve been securing a lot of
land and they are developing, and many of them have
lots that are being sold in advance and have already sold. So you’ve got options for
existing home purchases or new home purchases,
if you’re interested. Again, I think Columbus
is a wonderful city, and for folks who maybe don’t know, I was born and raised right
here in Columbus, Ohio, so I have seen all of this wonderful growth over the last several years, and it’s really great to see. It just is gonna depend
on what your needs are. From a big picture, Columbus
really does have it all. We have jobs, we have
education opportunities, we have affordable
housing, we have housing, available housing, we have
fun, we have entertainment, and we have anything else
in there that I’m missing, but those seem to be what
I hear from my clients as the really important things for them. We honestly really are close to it all, so give Columbus, Ohio
a try and check it out. Listen, if you have any
questions that are specific, leave those down in the comment section, I’m very active there. I’ll answer any questions I
can for you about Columbus. And remember, we’re a community here, so do make sure that you
subscribe to my channel and hit that notification bell so that you don’t miss any of my videos. That’s all I have for now. Stay fabulous and productive, and I’ll see you in my
next video, take care.

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