Jan 5, 2023 - Real Estate
Here's what experts say 2023 holds for Columbus real estate
The Columbus housing market shows no sign of a crash in 2023.
- Here's what experts say to expect instead:
1. Demand will likely hold steady.
Craig Hicks of Columbus Realtors says demand, propped up by Intel's arrival, will keep the market steady in 2023.
- Columbus was No. 14 in Realtor.com's Top-100 Housing Forecast for 2023, which forecasts home prices will appreciate 5% in 2023.
- "We have continued to have high demand with little inventory," Sue Van Woerkom of Keller Williams Capital Partners tells Axios.
2. Home prices will appreciate more normally.
Hicks thinks the days of homes selling way over asking are behind us.
- "After a record-breaking 2021 in terms of sales velocity and demand, 2022 saw the market return to a more familiar place," he says.
3. Buyers will likely have a little more negotiating power than in recent years.
The average list-to-sale price ratio has dropped, which indicates buyers might be able to "negotiate a little off the asking price," Van Woerkom says.
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