Central Ohio home sales topping the charts

Central Ohio home sales continue top the charts this year as sales for the first six months of the year (13,031) were 22.2 percent higher than last year - and the next highest on record behind 2006 when the market saw 13,192 sales January through June.

The 2,810 closings last month were 10.4 percent higher than June 2012 and mark the 18th month of year over year sales increases according to Columbus REALTORS®.

There were 3,721 homes that went into contract in June which is 17.7 percent higher than the previous year.

"We’ve seen a significant increase in activity this year which jumped further when interest rates started to rise,” said Chris Pedon, president of Columbus REALTORS®. “If mortgage rates continue to increase, we could see a softening of the market. But for now, many buyers have either jumped off the fence or stepped up their effort to buy now instead of taking that chance.”

In addition to sales, home prices have also risen. The average sale price during the month of June was $196,377 which is not only 6.6 percent higher than last year, but marks June 2013 as the highest sales price month on record.

Full report.

Source: Columbus REALTORS,

July 22, 2013