Your Real Estate Market Update:
Local Market Information provided by the Columbus Board of Realtors MLS. Last Updated October 25, 2017
Here you will find the latest local housing trends that will give you insights, updates and analysis to your local marketplace. If you have any questions about this report or anything else related to real estate, please feel free to reach out to us. We are proud to be a trusted advisor and help you make important business decisions when it comes to real estate.
Demand for Homes Still Strong but Not as Strong.
(October 20, 2017 – Columbus, OH)
There were 2,827 homes and condos sold during the month of September, which is a 4.4 percent decrease from the same month a year ago. Year-to-date, central Ohio is still on track for a record year in home sales, according to the Columbus REALTORS® Multiple Listing Service.
“Although there was a slight decrease in sales this past month, overall demand for homes in central Ohio continues to soar,” said 2017 Columbus REALTORS® President Mic Gordon. “Buyers are still hungry for inventory, making it a better time than ever to sell!”
Compared to a year ago, there was a slight uptick (2.5 percent) in the number of homes listed for sale in September.
This left inventory at 5,448, which is just 4 homes more than August, but 11.1 percent down from September 2016.
“Given that September marked our 80th consecutive month of year over year inventory decreases, it’s a positive sign that inventory didn’t decrease last month,” Gordon said. “More central Ohio home owners have realized it’s an opportune time to put their home on the market.”
The average sales price for the month of September in central Ohio was $212,916, which is 4.3 percent higher than the same month last year. The median sales price was $180,000, up 5.3 percent from last year.
Homes spent an average of 29 days on the market during the month of September, which is 6 days less than a year ago.