April home sales set record high
Central Ohio home sales last month (2,390) showed an increase of 30 percent in the market from one year ago (1,834). According to the Columbus Board of REALTORS®, April saw the highest number of home sales on record, followed by the 2,286 homes sold in April of 2004.
In addition to the increases in sales, home prices continue to rise also. While the average sale price has increased every month in 2013 from $149,477 in January to $163,084 in April, the average sale price year-to-date ($156,386) is up almost one and a half percent from 2012.
“Even with more homes being sold and sale prices up, the average time on the market continues to fall: down over 20 percent from a year ago”, said Chris Pedon, 2013 president of the Columbus Board of REALTORS®. “With such excellent market conditions, we’re seeing inventory move quickly.”
There were 3,965 new listings added to the market in April, up 8.9 percent from April of 2012. New listings also saw increases from one year ago, and have been rising every month this year.
“Central Ohio continues to see improvement in nearly every aspect of the market,” Pedon continued. “We have not seen the number of new listings this high in any month since April 2010.”
According to the latest Housing Market Confidence Index (by the Ohio Association of REALTORS®), 98 percent of central Ohio REALTORS® describe the current housing market as moderate to strong and 94 percent expect home prices to increase in the next year.
As a result of the considerable improvement in the housing market, 76 percent of Columbus area REALTORS® report an increase in multiple offers, and 24 percent say the number of properties receiving multiple offers has increase “a lot”.
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 www.ColumbusRealtors.com/stats
. The reports include breakouts for 18 central Ohio counties and 53 local municipalities and school districts. Buckeye Valley Schools was added to the reports in February 2013.
For more information about the central Ohio housing market, visit www.ColumbusRealtors.com/stats
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