Central Ohio Housing Report - September 2017

Demand still strong for homes

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 fewer than a year ago.

According to the latest Housing Market Confidence Index by the Ohio Association of REALTORS®, 84 percent of central Ohio REALTORS® expect prices to rise over the next year, while 14 percent expect prices to level.

When asked about whether they’ve seen an increase or decrease in multiple offers over the past year, 84 percent said they saw they saw an increase, 14 percent said it remained the same and 2 percent said they saw a decrease.

Columbus REALTORS® is comprised of over 7,800 real estate professionals engaged in residential sales and leasing, commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development and more.

Current housing report – September 2017
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Columbus REALTORS® is comprised of over 7,800 real estate professionals engaged in residential sales and leasing, commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development and more.

The Columbus 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.

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.