Westerville Market Summary From 4-7-224 to 4-10-2024
10 New Listings
12 New Contracts
8 Active Listings
9 Price Drops
2 Condos Sold
Condos in Westerville near Hoover are selling for approximately $20,000 over asking price. At Polaris they are selling for $4,000 under list. In My Opinion, the older Condos near the water are selling for more than some of the newer Condos.
Year Over Year Analysis for the Entire MLS
When I look at the entire MLS Year Over Year comparing 2023 to 2024, the Sold homes are slightly under 3,000 and the active listings were slightly under 3000 but, the new Listings were slightly over 3,000. In March 2024 we had 2,000 homes sold but more than 3,000 homes were active. The New Home Sales took a slight dip too.
In 2023, a seller had 100% chance of selling their home for the asking price. However, in 2024 things have changed just a little and Sellers only now have a 99% chance of selling for the list price.
It is important to also look at the Days on Market. Also known as the “DOM”. In March 2023 the DOM was 20 days but a year later in March 2024, the DOM has increased to 40 days. Home Sale Prices in 2023 were averaging around $320,000.00 and in 2024 homes sold for just over $300,000 for the same time period. In 2023, the average list price for a home was $360,000 but in 2024 the average list price has remained the same. In 2024 we are still low on inventory. In order to meet the demands of housing in Westerville and surrounding areas we need to acquire some more inventory. If you know someone thinking about selling, please have them call Patricia Metzler.
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