June Stats Released: Sales strong, inventory incredible
Posted: 7/22/2010
Columbus Board of REALTORS®
June home closings in central Ohio continued to improve over last year, increasing by more than 10 percent to 2,315. Not only that but the number of days homes spend on the market and month’s supply are both down.
Despite that, the number of homes in contract slumped to 1,309, a 19 percent decline over this time last year. “It’s not surprising that in the wake of the home buyer tax credits, prospective home sales may slip,” said Sue Lusk-Gleich, President of the Columbus Board of REALTORS®. “But what is truly revealing is the other indicators that show the continued growth of central Ohio’s market.”
Days on market declined 12 percent and month’s supply, a measure of long term inventory, remains sustainable. The average home sale price rose three percent from last year and five percent from last month to $174,522. The listing inventory also shows promise, adding 1,194 homes, an eight percent increase over June of last year.
“One of the strongest aspects of our market is its diversity of available homes,” said Lusk-Gleich. “There are properties for all budgets and all buyers.” More than 9,000 homes for sale are priced $150,000 or lower and the vast majority of the inventory is listed for $250,000 and below.
The first half of 2010 has shown a 20 percent growth over the same time last year in the total number of sold listings and a nearly 26 percent increase in total dollar volume.
“Buyers should be aware of the incredible variety of available homes,” Lusk-Gleich said. “That, coupled with low interest rates and affordable prices, creates one of the best housing markets we’ve seen in years.”
The Columbus Board of REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Madison, Morrow, Pickaway and Union Counties and parts of Champagne, Clark, Hocking, Licking, Fairfield, Knox, Logan, Marion, and Ross Counties.
To view commercial properties for sale or lease in central Ohio, visit www.COCIE.org.
To view residential properties for sale, visit www.Realtor.com.
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