Autumn season ends with home sales, prices up!
November home sales in central Ohio showed healthy gains over last year. There were 1,923 residential sales
during the month of November, a 30 percent increase from the 1,479 home sales in November 2011, according to
the Columbus Board of REALTORS®.
November sale prices for homes sold in central Ohio were up for the tenth consecutive month. The average sale
price of $165,444 was 8.6 percent higher than in November 2011.
The average sale price of homes sold January through November 2012 was $168,198, up 7.2 percent from last year
($158, 929).
“The month of November (through February) are traditionally slower months for home sales,” says Jim Coridan,
President of the Columbus Board of REALTORS. “However, with a vitalized housing market, buyer confidence on the
rise and mortgage rates still at an all time low, we just may break away from tradition this winter season.”
The inventory of homes for sale continues to decline. There are now only 10,110 homes available for sale in central
Ohio, 20.2 percent less than November 2011.
“With the combination of increased sales and low inventory, our months supply is down to 5.5. Any time the supply
gets below 6 months, we have a sellers market,” said Coridan. “With a seller’s market, we are going to see home
prices continue to rise.”
Source: Columbus Board of REALTORS,
December 20, 2012
