Your Real Estate Market Update:


Local Market Information provided by the Columbus Board of Realtors MLS. Last Updated February 26, 2019


 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 adviser and help you make important business decisions when it comes to real estate.






















































































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New listings in central Ohio jump in January (February 21, 2019 – Columbus, OH)


There were 2,181 central Ohio homes and condos added to the market during the month of January, almost 55 percent more than the previous month and up 13.1 percent from January 2018, according to the Columbus REALTORS® Multiple Listing Service.


There were 1,602 central Ohio homes and condos sold during the month of January, down two percent from a year ago and a drop of almost 22 percent from the previous month. (However, what the article leaves out is that there were 2,336 in contract properties in January. Meaning more houses went in contract that came on the market as new listings((2,181)) – a sign that we will probably have a very strong Seller’s market again this Spring. - Tiffany)

 

“Even with a 55 percent increase in homes listed last month, we have strong demand for more homes and condominiums,” said 2019 Columbus REALTORS® President John Myers. “With prices up, if you are considering selling your home, now is the time to start that process by speaking with a REALTOR®.”


The median price of a home sold in January was $181,500, an increase of 5.2 percent from a year ago. The average sale price was $208,512, an increase of 1.3 percent over January 2018.


The month’s supply of inventory during January was 1.4, up from 1.2 at the beginning of last year. The month’s supply is calculated by taking the amount of inventory divided by average monthly sales over the last 12 months. In other words, if no more homes were added to the market, it would take about a month and a half to sell all of the homes and condos currently for sale in central Ohio.


Inventory continues to remain lower than normal for this market. There were 3,818 homes and condos for sale at the end of January, up 12 percent from last January, but still lower than any previous year.


“Homeowners waiting for warmer months to list their home are missing out on opportunities to sell today,” added Myers. “Buyers are out there - and they’re not waiting for summer to buy.”