There were almost 500 more homes listed for sale in April compared to the previous month. The jump from 3,200 to 3,700 new listings fueled increased market activity from the buyers looking for homes in central Ohio right now.
Although inventory levels are down and sale prices are up, there appears to be no shortage of buyers. This demand coupled with lower mortgage interest rates keeps competition fierce in the central Ohio market.
Last month, there were one thousand more homes listed for sale compared to February. The jump from 2,200 to 3,200 new listings generated increased interest and foot traffic from buyers actively seeking to purchase a home in central Ohio.
Find out who went home with the top 2018 commercial awards announced at the 3/7/19 Commercial Awards Banquet!
Foreclosures and short sales in central Ohio continued to decline during the final months of 2018. Down 37.5 percent in the fourth quarter, distressed home sales made up just 3.2 percent of the properties sold, down from almost five percent last year and a record low.
Although the supply of new home listings was up almost 55 percent in January, the demand is still stronger than the supply. i.e. Central Ohio has more buyers than sellers.
Although the lack of inventory had home sales down, demand pushed home prices higher in 2018.
Home prices are up over seven percent in central Ohio supporting the value of real estate as an excellent investment vehicle.
Although down 4.1 percent from a year ago, homes put in contract jumped 3.7 percent from September to October. This was the second highest number of homes in contract in October in 12 years, according to the Columbus REALTORS Multiple Listing Service (MLS).
The number of homes and condominiums for sale in central Ohio increased to 5,589 in September which is up 2.6 percent from one year ago. This breaks a 91-month streak of year-over-year declines in inventory according to the Columbus REALTORS® Multiple Listing Service.
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