June 2023 Real Estate Update

Richard Barnett is the Broker & Owner of RE/MAX Main Street in Bexley, OH. He can be reached at rbarnett@remax.net or 614-580-0610

With the current market conditions, to proceed “without” a Realtor relationship could potentially leave you without a premium sales price or missing the opportunity to get a signed purchase contract. For the Buyer and Seller, the Realtor relationship is needed today because:

1.) Good guidance is essential.

2.) Housing inventory is low, while pricing needs to be precise to maximize value.

3.) Showings need to be immediate, while perceptions of the home should be positive.

4.) Offers need to be more creative, while meeting goals.

5.) Negotiations are inevitable and tough, so communication is important.

6.) Paperwork needs to be completed – contracts, loan applications, appraisals and title work require input and accuracy from Realtors.

7.) The Realtors relationship with other realty professionals maybe an advantage for success.

8.) Knowledge of inspectors and contractors that may need request for remedy, while working though “as-is” offers.

9.) Get to CLOSING, while eliminating the emotional aspect of buying and selling.

Within our Bexley-Eastmoor-Berwick market area, as of April 2023, the new listings for the area are down approximately 10% from year-to-date totals from April 2022. While the average list price is up approximately 16% in 2023 from the year to date of 2022, the good news for Buyers is the average sales price has decreased approximately 3.5% for these year-to-date time periods. With that said, you only have 17 homes or condos to choose from as of May 10, 2023.