Discover the allure of Westerville, Ohio, as we delve into the thriving real estate market that characterizes this vibrant city. In this blog post, we’ll explore key housing statistics and market trends that showcase Westerville as a compelling destination for homebuyers and sellers alike.
**1. Inventory and Efficiency:**
Westerville boasts an impressive .77 months of inventory, signaling a dynamic market with a balanced supply and demand. This efficiency is further highlighted by a 101.1% list-to-sold price ratio, indicating strong value retention for sellers.
**2. November Unveilings:**
The month of November saw a burst of activity with 61 new listings entering the market. The average new list price is $439,900, providing a diverse range of options for those eager to explore Westerville’s real estate offerings.
**3. Active Listings Snapshot:**
With 53 active listings in November, Westerville presents a variety of choices for prospective buyers. The average active listing is priced at $474,900, showcasing the city’s diverse housing options catering to different preferences and budgets.
**4. Market Activity:**
Westerville’s real estate market is marked by brisk activity, with an average of 27 days on the market for listed properties. This swift turnover speaks to the city’s desirability and the efficiency with which properties are bought and sold.
**5. Pricing Dynamics:**
The average sold listing price in Westerville stands at $416,660, representing a dynamic market where buyers find reasonable prices and sellers realize strong returns. The estimated property value is $447,210, reflecting a slight decrease of 0.2% from the previous month but a notable 19.3% increase compared to the same period last year.
Westerville, Ohio, stands as a city where real estate dreams come to life. With efficient transactions, a variety of listings to explore, and a robust market poised for growth, Westerville presents an enticing landscape for both homebuyers and sellers. Whether you’re looking for your next home or considering an investment, Westerville offers a dynamic and flourishing real estate environment.