Average Sale Price
- $210,791, Feb 2018, 10.6% increase 1-yr, 34.7% increase 10-yr
- $190,659, Feb 2017
- $156,497, Feb 2008
The average sale price for Feb 2018 has increased 10.6% over Feb 2017. That is the highest percentage increase for February since Feb 2010 vs. Feb 2009, which was an increase of 11.9%.
Months Supply of Inventory
- 1.2 months, Feb 2018
- 12.4 months, Feb 2009 – highest for February in last 10 years.
- 1.6 months, Feb 2017 – last year’s hot market
How much of a seller’s market is it now? 1.2 months is the lowest inventory since Columbus Realtors® started keeping the statistic in Apr 2008. Last year, 2017, the inventory started at 1.6 in January, then peaked at 2.1 in May 2017.
Interest Rate, 30 Year Fixed-Rate Mortgage
- 4.44%, 29 March 2018, most recent
- 4.53%, Jan 2014
- 4.58%, Aug 2013
- 6.04%, 20 Nov 2008, the last time it was over 6%
We are hearing about them! That is how much they’ve gone up. Check out this interactive chart from Freddie Mac:
What To Do, Investors
- Do: Improve / develop what you already own, and get it performing.
- Do: take opportunity to start as a wholesaler / real estate agent / manager.
- Don’t: buy on a variable rate loan.
Source: Nate’s decision making model for real estate.