Especially interested in Columbus are economists who claim that Columbus can be seen as something of a microcosm for the economic growth of the rest of the country. Also interested in Columbus are homebuyers, who are taking advantage of the favorable interest rates in the market as homes are being sold almost faster than they’re being put on the market.
The Columbus market is perfect for couples and families who are planning on increasing their family size. Even though the market is hot, buyers are encouraged to be patient, as the average purchasing process can take around nine months. About 88 percent of buyers will use a real estate agent to help them find a home that they can stay in for around an average of 17 years. Columbus homebuyers tend to like older homes compared to new and they tend to be 88 percent less receptive to new homes versus the national average.
Check out the graphic to see a glimpse of the typical Columbus buyer.
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The Most Important Qualities to Look for in a Home
- Quality of construction
- Safer neighborhood
- Better floor plans
- Lower maintenance costs (money and time spent).
- Lower cost per sq. ft.
New Versus Used
- 3 percent of Columbus-area home shoppers prefer newly built homes.
- 60 percent of Columbus-area home shoppers prefer used homes.
- 38 percent of Columbus-area home shoppers are indifferent.
Why Buy a House?
- Favorable interest rates
- Tired of current house
- Planning to increase family size
Time Frame When Searching for a New Home
- The majority of buyers (43 percent) search between 9 and 12 months.
- 13 percent of buyers spend 6 to 9 months looking for a home.
- 10 percent of Columbus-area homebuyers spend 3 to 6 months searching for a home.
- 18 percent of home shoppers find a home in less than 3 months.
Local Housing Stats
- The average Columbus home was built in 1979.
- The average Columbus homeowner will stay in their home for 17 years.
- Columbus home shoppers are 88 percent less receptive to newly built homes than the national average.
- About 88 percent of home shoppers in the Columbus area will use a real estate agent.