Central Ohio Housing Report - May 2012

Homes selling quickly in central Ohio

(June 21, 2012) Central Ohio home sales in May were up for the fifth straight month. Residential home sales in May reached 2,070, up 5.0 percent from the 1,971 sales recorded in May of 2011.

The 7,966 home sales January through May of this year mark a 6.0 percent increase over the 7,451 sales recorded during the same period last year according to the Columbus Board of REALTORS®.

Homes in central Ohio sold for an average of $167,518 last month which is up 6.3 percent from one year ago.

“Home buyers looking for big discounts on housing today are finding that their offers are no longer winning contracts,” said Jim Coridan, 2012 President of the Columbus Board of REALTORS®. “With inventory back to pre-boom levels and sales prices creeping back up, sellers don’t have to sacrifice their goals to sell their home today.”

The 11,971 homes for sale in central Ohio is down 32 percent – and selling about 13 days sooner than they were one year ago.

“There is still a broad array of homes for sale in the central Ohio area in all price ranges,” said Coridan. “Over 50 percent of the homes for sale are priced at $150,000 or below, so our market is very affordable.”

“However, with fewer homes on the market, and those homes selling more quickly, buyers shouldn’t wait too long to make an offer, because they may lose out on getting the house they want.”

According to the latest Housing Market Confidence Index (by the Ohio Association of REALTORS®), 95 percent of central Ohio REALTORS® describe the current housing market as moderate to strong and 93 percent expect home prices to remain the same or rise in the next year.

View the current Central Ohio Local Market Update.
View the current Housing market report by area.

The Columbus Board of REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Morrow, Pickaway and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Marion, Muskingum, Perry and Ross Counties.

The monthly housing reports can be found at ColumbusRealtors.com/stats. The reports include breakouts for 18 central Ohio counties and 52 local municipalities and school districts. New areas included in the 2012 reports include: Grove City and local school districts for Big Walnut, Miami Trace, Johnstown-Monroe and Northridge.

For more information about the central Ohio housing market, visit ColumbusRealtors.com/stats
To view commercial properties for sale or lease in central Ohio, visit COCIE.org.
To view residential properties for sale, visit Realtor.com. 
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Press Note: If you would like to interview a REALTOR®, please contact the following:
President James Coridan, Coridan and Associates (614) 224-5155
President-Elect Chris Pedon, Real Living HER (614) 477-6726
Treasurer Milt Lustnauer, RE/MAX Premier Choice (614) 410-1817
Secretary Kathy Shiflet, Coldwell Banker King Thompson (614) 526-5688