Sellers who have sold thus far have mostly experienced an upswing in fortunes from 5 years ago. The May 2015 Stats from the Columbus Realtors show that there are 3 months of inventory on the market for the entire Central Ohio Area. The Keeping Current Matters Blog #1 Reason to Sell Your House Now! explains how months of inventory can demonstrate the market type.
However, it has been my experience that even though we are in a “Sellers Market” the appreciation is only as good as the willingness of the buyers in the market to pay. There is always a tipping point and there is a price that people are not willing to pay. The premium being too high will only keep the home on the market to stagnate, or worse still, there will be showings but no offers.
In conclusion, only with good pricing and a willing buyer market will you see the appreciation that the graphic promises. Mostly, the sellers that have been in their homes less than 5 years have not earned enough equity to take advantage of this market. Not all property is going to experience the bounty of the market, but the majority will.