Wednesday, December 31, 2014
Friday, November 21, 2014
CENTRAL OHIO REAL ESTATE MARKET NEWS......
Central Ohio Housing Report - October 2014
Central Ohio home sales jump in October
(Nov. 20, 2014 – Columbus, OH) - There were 2,335 central Ohio homes and condos sold in October 2014, which is a 9.9 percent gain from October 2013 and just 0.6 percent lower than the previous month’s sales, according to the Columbus REALTORS® Multiple Listing Service (MLS).
The average sales price of a home also continued to climb for the eighth month in a row to $182,368 in October, an increase of 1.7 percent from the previous month and a 6.7 percent increase from October 2013. The average price is the total volume divided by the number of homes sold.
“Many buyers heeded our advice and jumped on the market last month,” said Milt Lustnauer, Columbus REALTORS 2014 president. “With the increased inventory added in September and prices rising, we knew folks would get excited about the selection and value for their money.”
There were 2,697 homes and condos listed for sale in October 2014, which is a decrease of 8.1 percent from October 2013. The additional inventory brought the total number of homes and condos for sale to 8,890, which just trails September by 5.5 percent.
“The decrease in inventory is a customary reaction to the dropping temperature,” Lustnauer added. “Additionally, consumers tend to be preoccupied around the holidays and not focused as much on potentially listing their homes. So it’s actually a prime time to put your home on the market.”
According to the latest Housing Market Confidence Index (by the Ohio Association of REALTORS®) 92 percent of central Ohio REALTORS® describe the current housing market as moderate to strong and 84 percent expect housing prices to rise over the next year.
“Sales prices have climbed steadily throughout 2014 and buyer interest has remained high as a result,” Lustnauer said. “We can only expect that sales prices will continue to inch up in the coming months.”
Seventy-six percent of central Ohio REALTORS® indicated that the middle market has been in highest demand; 16 percent said the low-end and eight percent indicated the high-end market has been best this year.
Current housing report – October 2014
All housing reports
Columbus REALTORS® is comprised of over 6,500 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.
The average sales price of a home also continued to climb for the eighth month in a row to $182,368 in October, an increase of 1.7 percent from the previous month and a 6.7 percent increase from October 2013. The average price is the total volume divided by the number of homes sold.
“Many buyers heeded our advice and jumped on the market last month,” said Milt Lustnauer, Columbus REALTORS 2014 president. “With the increased inventory added in September and prices rising, we knew folks would get excited about the selection and value for their money.”
There were 2,697 homes and condos listed for sale in October 2014, which is a decrease of 8.1 percent from October 2013. The additional inventory brought the total number of homes and condos for sale to 8,890, which just trails September by 5.5 percent.
“The decrease in inventory is a customary reaction to the dropping temperature,” Lustnauer added. “Additionally, consumers tend to be preoccupied around the holidays and not focused as much on potentially listing their homes. So it’s actually a prime time to put your home on the market.”
According to the latest Housing Market Confidence Index (by the Ohio Association of REALTORS®) 92 percent of central Ohio REALTORS® describe the current housing market as moderate to strong and 84 percent expect housing prices to rise over the next year.
“Sales prices have climbed steadily throughout 2014 and buyer interest has remained high as a result,” Lustnauer said. “We can only expect that sales prices will continue to inch up in the coming months.”
Seventy-six percent of central Ohio REALTORS® indicated that the middle market has been in highest demand; 16 percent said the low-end and eight percent indicated the high-end market has been best this year.
Current housing report – October 2014
All housing reports
Columbus REALTORS® is comprised of over 6,500 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.
Tuesday, October 21, 2014
CENTRAL OHIO REAL ESTATE MARKET NEWS......
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Saturday, September 27, 2014
Thursday, August 28, 2014
FRANKLIN COUNTY AUDITOR INFO.....
Question
about your new property value?The Franklin County Auditor's Office sent out tentative
property values for all 440,000-plus parcels of property in Franklin County on
Friday, Aug. 8.
If you own property and have not yet received the mailer, you will be receiving
it shortly. In the meantime, you can check
your property value online. Informal review sessions will be held on
Wednesday, September
21 and Thursday,
September 22 at Columbus REALTORS® where owners have the
opportunity to present information that supports a different value. More information.
Wednesday, July 23, 2014
CENTRAL OHIO REAL ESTATE MARKET NEWS.....
Central Ohio
homes sales heat up with temperatures
(July, 22, 2014 – Columbus, OH) – There were 2,856
central Ohio homes and condos sold in June
2014, an 11.2 percent increase over the previous month, although
down 3.3 percent from June
2013.
With
an inventory level of 9,247, the number of homes on the market is 5.5 percent
higher than May 2014,
according to the Columbus REALTORS® Multiple Listing Service
(MLS).
“The
number of homes sold this past month is a true reflection that buyers are hungry
for new inventory, which just continues to climb month after month in central
Ohio,” said Milt Lustnauer, 2014 president of Columbus REALTORS®. “Buyer
interest is still incredibly high right now, making it a terrific time to put
your home on the market.”
There
were 3,903 central Ohio homes and condos listed for sale in June 2014, which
is down .1 percent from the previous month and also down 1.2 percent from June
2013.
The
average sales price of a home was $201,285, which is up 9.1 percent from May,
and up 2.6 from June
2013.
“Sales prices of central Ohio homes continue to
increase, which has been the trend since the beginning of the year,” Lustnauer
said. “House prices are still reasonable and affordable, but will likely
continue to rise throughout the rest of the year.”
According to the latest Housing Market Confidence Index
(by the Ohio Association of REALTORS®) 100 percent of central Ohio REALTORS®
describe the current housing market as moderate to strong and expect it to
remain so over the next six months. Ninety percent of central Ohio REALTORS®
also expect housing prices to rise over the course of the next
year.
Given
current market conditions, 50 percent REALTORS® say that the difficulty in
securing financing remains the same, 18 percent say it’s somewhat more difficult
and 29 percent say it’s somewhat easier.
Current housing report – June 2014
All housing reports
Columbus REALTORS® is comprised of over 6,100 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.
Source: Columbus REALTORS®
July 22, 2014
All housing reports
To view residential properties for sale, visit www.Realtor.com.
Source: Columbus REALTORS®
July 22, 2014
Tuesday, June 24, 2014
CENTRAL OHIO REAL ESTATE MARKET NEWS......
Demand for homes high in central Ohio
(June 23, 2014
Columbus, OH) – There were 3,935 central Ohio homes and condos listed for sale
in May 2014, 7.1
percent lower than the previous year, but up 6.2 percent from
April.
With an inventory level of 8,766, the number of homes on the market is 12.9 percent lower than May 2013 according to the Columbus REALTORS® Multiple Listing System (MLS).
“We’re averaging over 125 homes listed for sale daily, but the demand continues to outpace the supply,” said Milt Lustnauer, 2014 president of Columbus REALTORS®. “Home sales continue to rise as we move into summer, so it’s a great time to sell your home with buyer interest so high right now.”
There were 2,569 central Ohio homes and condos sold in May 2014, up 17 percent from the 2195 homes sold the previous month
The average sale price was $184,474, which was up 4.9 percent than last year and up 4.7 percent from April.
“Sales prices in central Ohio continue to climb, as they have since the beginning of the year,” Lustnauer said. “Unlike during the housing boom, home price increases are reasonable and sustainable so we anticipate prices continuing to rise at this type of pace throughout the year.”
According to the latest Housing Market Confidence Index (by the Ohio Association of REALTORS®) 100 percent of central Ohio REALTORS® describe the current housing market as moderate to strong and expect it to remain so over the next six months. Ninety-four percent of central Ohio REALTORS® also expect housing prices to rise over the course of the next year.
Given current market conditions, 39 percent of sellers in central Ohio are becoming more realistic when anticipating the value of their home to put on the market. But 42 percent seem less realistic about the value of their home.
Current housing report – May 2014
All housing reports
With an inventory level of 8,766, the number of homes on the market is 12.9 percent lower than May 2013 according to the Columbus REALTORS® Multiple Listing System (MLS).
“We’re averaging over 125 homes listed for sale daily, but the demand continues to outpace the supply,” said Milt Lustnauer, 2014 president of Columbus REALTORS®. “Home sales continue to rise as we move into summer, so it’s a great time to sell your home with buyer interest so high right now.”
There were 2,569 central Ohio homes and condos sold in May 2014, up 17 percent from the 2195 homes sold the previous month
The average sale price was $184,474, which was up 4.9 percent than last year and up 4.7 percent from April.
“Sales prices in central Ohio continue to climb, as they have since the beginning of the year,” Lustnauer said. “Unlike during the housing boom, home price increases are reasonable and sustainable so we anticipate prices continuing to rise at this type of pace throughout the year.”
According to the latest Housing Market Confidence Index (by the Ohio Association of REALTORS®) 100 percent of central Ohio REALTORS® describe the current housing market as moderate to strong and expect it to remain so over the next six months. Ninety-four percent of central Ohio REALTORS® also expect housing prices to rise over the course of the next year.
Given current market conditions, 39 percent of sellers in central Ohio are becoming more realistic when anticipating the value of their home to put on the market. But 42 percent seem less realistic about the value of their home.
Current housing report – May 2014
All housing reports
Source: Columbus REALTORS®
June 23, 2014
Thursday, May 22, 2014
CENTRAL OHIO REAL ESTATE MARKET NEWS.....
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Tuesday, April 29, 2014
CENTRAL OHIO REAL ESTATE MARKET NEWS.......
Central Ohio Housing Report - March 2014
“After one of the coldest winters on record, many sellers were waiting to put their home on the market,” said Milt Lustnauer, 2014 president of the Columbus REALTORS®. “It’s a great time to sell a home due to the lack of inventory available.”
“But it’s also a great time to buy a home as interest rates are likely going to increase. Buyers can undoubtedly get more home for their money today than they will be able to tomorrow.”
The sale price of a home sold in March 2014 was $172,019, which was 6.6 percent higher than the previous year. The median sale price of $143,500 was up 6.3 percent compared to March 2013.
There were 1,796 central Ohio homes sold in March of 2014, 10.5 percent lower than March 2013, but up over 24 percent from the previous month.
With an inventory level of 8,066, the number of homes on the market is 13.9 percent lower than March 2013.
“Inventory levels are still lagging in central Ohio, much to the chagrin of a significant number of motivated buyers right now,” said Lustnauer. “With temperatures on the rise, we expect inventory to continue in that direction as well in the coming months.”
According to the latest Housing Market Confidence Index (by the Ohio Association of REALTORS®) 95 percent of central Ohio REALTORS® describe the current housing market as moderate to strong and 98 percent expect the market to be moderate to strong over the next six months. As for housing prices, 95 percent expect housing prices to rise over the next year. Additionally, since the weather has started to improve, 34 percent of respondents have seen higher than normal early spring activity.
Current housing report – March 2014
All housing reports
Columbus REALTORS® is comprised of over 6,000 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.
Home inventory rising with the temperatures
(Apr. 22, 2014 Columbus, OH) – There were 3,428 central Ohio homes and condos listed for sale in March 2014. Although down 2.1 percent from inventory one year ago, this is up 48.3 percent from the 2,310 added the previous month according to the Columbus REALTORS® Multiple Listing System (MLS).“After one of the coldest winters on record, many sellers were waiting to put their home on the market,” said Milt Lustnauer, 2014 president of the Columbus REALTORS®. “It’s a great time to sell a home due to the lack of inventory available.”
“But it’s also a great time to buy a home as interest rates are likely going to increase. Buyers can undoubtedly get more home for their money today than they will be able to tomorrow.”
The sale price of a home sold in March 2014 was $172,019, which was 6.6 percent higher than the previous year. The median sale price of $143,500 was up 6.3 percent compared to March 2013.
There were 1,796 central Ohio homes sold in March of 2014, 10.5 percent lower than March 2013, but up over 24 percent from the previous month.
With an inventory level of 8,066, the number of homes on the market is 13.9 percent lower than March 2013.
“Inventory levels are still lagging in central Ohio, much to the chagrin of a significant number of motivated buyers right now,” said Lustnauer. “With temperatures on the rise, we expect inventory to continue in that direction as well in the coming months.”
According to the latest Housing Market Confidence Index (by the Ohio Association of REALTORS®) 95 percent of central Ohio REALTORS® describe the current housing market as moderate to strong and 98 percent expect the market to be moderate to strong over the next six months. As for housing prices, 95 percent expect housing prices to rise over the next year. Additionally, since the weather has started to improve, 34 percent of respondents have seen higher than normal early spring activity.
Current housing report – March 2014
All housing reports
Columbus REALTORS® is comprised of over 6,000 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.
Saturday, March 22, 2014
CENTRAL OHIO REAL ESTATE MARKET NEWS......
Central Ohio Housing Report - February 2014
Low inventory and frigid temperatures kept February home sales flat
February home sales were only slightly off pace from the same time last year, when home sales saw their highest numbers since the boom. There were 1,444 central Ohio homes sold in February of 2014, 6.2% lower than February 2013 (1,539), according to the Columbus REALTORS® Multiple Listing System (MLS).
“Inventory is still down in central Ohio, which is hindering the potential of our already strong housing market,” said Milt Lustnauer, 2014 president of the Columbus REALTORS®. “Given the low inventory and abysmal weather, we’re only a few steps behind what turned out to be a record breaking year, last year.”
The sale price of a home sold in February 2014 was $164,595, which was 9.2 percent higher than last year. The median sale price of $135,000 was up 10.4 percent compared to February 2013.
The average price is the total volume divided by the number of homes sold. The median is the midpoint -- half the homes sell for less, while half sell for more.
At an inventory level of 8,066, the number of homes on the market is 10.7 percent lower than February 2013. However there were 2,310 homes listed for sale in February, up slightly from the 2,120 added the previous month.
“Many sellers were waiting out one of the worst winters on record,” added Lustnauer. “Now that the weather is warming up, we hope to see inventory levels jump back up.”
According to the latest Housing Market Confidence Index (by the Ohio Association of REALTORS®), 87 percent of central Ohio REALTORS® describe the current housing market as moderate to strong and 95 percent expect the market to be moderate to strong over the next six months. As for housing prices, 96 percent expect home prices to rise over the next year.
View the current Central Ohio Local Market Update.
Columbus REALTORS® is comprised of over 6,200 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.
Source: Columbus REALTORS
February home sales were only slightly off pace from the same time last year, when home sales saw their highest numbers since the boom. There were 1,444 central Ohio homes sold in February of 2014, 6.2% lower than February 2013 (1,539), according to the Columbus REALTORS® Multiple Listing System (MLS).
“Inventory is still down in central Ohio, which is hindering the potential of our already strong housing market,” said Milt Lustnauer, 2014 president of the Columbus REALTORS®. “Given the low inventory and abysmal weather, we’re only a few steps behind what turned out to be a record breaking year, last year.”
The sale price of a home sold in February 2014 was $164,595, which was 9.2 percent higher than last year. The median sale price of $135,000 was up 10.4 percent compared to February 2013.
The average price is the total volume divided by the number of homes sold. The median is the midpoint -- half the homes sell for less, while half sell for more.
At an inventory level of 8,066, the number of homes on the market is 10.7 percent lower than February 2013. However there were 2,310 homes listed for sale in February, up slightly from the 2,120 added the previous month.
“Many sellers were waiting out one of the worst winters on record,” added Lustnauer. “Now that the weather is warming up, we hope to see inventory levels jump back up.”
According to the latest Housing Market Confidence Index (by the Ohio Association of REALTORS®), 87 percent of central Ohio REALTORS® describe the current housing market as moderate to strong and 95 percent expect the market to be moderate to strong over the next six months. As for housing prices, 96 percent expect home prices to rise over the next year.
View the current Central Ohio Local Market Update.
Columbus REALTORS® is comprised of over 6,200 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.
Source: Columbus REALTORS
Friday, February 28, 2014
CENTRAL OHIO REAL ESTATE NEWS
Central Ohio Housing Report - January 2014
Home sales cooled in January
A combination of frigid temperatures and low inventory resulted in fewer central Ohio home sales in January. The 1,337 sales last month was 8.3 percent lower than January 2013 (1,458) according to the Columbus REALTORS® Multiple Listing System (MLS).
“Looks like the historically adverse winter weather conditions have placed a temporary freeze on home sales as compared to last January,” said Milt Lustnauer, 2014 president of Columbus REALTORS®. “Given the demand, this may create a potential back log of home sales this spring.”
The sale price of a home sold in January 2014 was $159,452 which was 7.8 percent higher than last year. The median sale price of $128,000 was up 6.7 percent compared to January 2013.
The average price is the total volume divided by the number of homes sold. The median is the midpoint -- half the homes sell for less, while half sell for more.
Inventory for the last two months has resembled levels last seen in winter of 2000. At 8,284, the number of homes on the market is 7.3 percent lower than last January. Not only has this affected sales, the lack of supply has resulted in a 51 percent drop in pending sales.
That said, 2,175 homes and condos were listed for sale during January, 16.7 percent lower than last year, but an increase of 49 percent from the previous month.
“All the signs of a robust spring are here,” adds Lustnauer. “Interest rates are still hovering under 4.5 percent, consumer confidence is improving, and inventory is increasing.”
According to the latest Housing Market Confidence Index (by the Ohio Association of REALTORS®), 97 percent of central Ohio REALTORS® describe the current housing market as moderate to strong and 84 percent expect home prices to rise over the next year. Additionally 50 percent are seeing a slight increase in the level of interest renters are expressing toward buying.
View the current Central Ohio Local Market Update.
Note: Due to the MLS conversion to a different system in early February, the detailed housing reports usually released are unavailable for January 2014.
Columbus REALTORS® is comprised of over 6,200 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.
The monthly housing reports can be found at ColumbusRealtors.com/stats.
A combination of frigid temperatures and low inventory resulted in fewer central Ohio home sales in January. The 1,337 sales last month was 8.3 percent lower than January 2013 (1,458) according to the Columbus REALTORS® Multiple Listing System (MLS).
“Looks like the historically adverse winter weather conditions have placed a temporary freeze on home sales as compared to last January,” said Milt Lustnauer, 2014 president of Columbus REALTORS®. “Given the demand, this may create a potential back log of home sales this spring.”
The sale price of a home sold in January 2014 was $159,452 which was 7.8 percent higher than last year. The median sale price of $128,000 was up 6.7 percent compared to January 2013.
The average price is the total volume divided by the number of homes sold. The median is the midpoint -- half the homes sell for less, while half sell for more.
Inventory for the last two months has resembled levels last seen in winter of 2000. At 8,284, the number of homes on the market is 7.3 percent lower than last January. Not only has this affected sales, the lack of supply has resulted in a 51 percent drop in pending sales.
That said, 2,175 homes and condos were listed for sale during January, 16.7 percent lower than last year, but an increase of 49 percent from the previous month.
“All the signs of a robust spring are here,” adds Lustnauer. “Interest rates are still hovering under 4.5 percent, consumer confidence is improving, and inventory is increasing.”
According to the latest Housing Market Confidence Index (by the Ohio Association of REALTORS®), 97 percent of central Ohio REALTORS® describe the current housing market as moderate to strong and 84 percent expect home prices to rise over the next year. Additionally 50 percent are seeing a slight increase in the level of interest renters are expressing toward buying.
View the current Central Ohio Local Market Update.
Note: Due to the MLS conversion to a different system in early February, the detailed housing reports usually released are unavailable for January 2014.
Columbus REALTORS® is comprised of over 6,200 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.
The monthly housing reports can be found at ColumbusRealtors.com/stats.
Friday, January 24, 2014
CENTRAL OHIO REAL ESTATE MARKET NEWS....
Central Ohio Housing Report - December 2013
2013 Central Ohio home sales second highest on record
The second-highest sales year on record ended with the strongest December since the housing boom in central Ohio. December home sales came in at 1,735, 2.5 percent higher than December 2012 and the most sales on record since the peak of the boom in 2005 (1,829) according to the Columbus REALTORS® Multiple Listing System (MLS).
In total, there were 27,033 closed sales in 2013 which was 17.1 percent more than 2012 (23,082).
The sale price of a home in 2013 was $174,336, an increase of 4.2 percent over 2012. The average sale price of a home in December was $176, 217, 11.6 percent higher than December 2012.
“2013 has been an amazing year for real estate in central Ohio,” says Milt Lustnauer, 2014 president of Columbus REALTORS®. “These December numbers are not surprising. Real estate isn’t a seasonal game anymore, today’s buyer is ready to act rain, shine - or snow.”
The inventory of homes at the end of the year was down to 8,732, the lowest for the month of December since 2000. As such, 2013 closed with a months supply of 3.9 percent, the lowest on record for central Ohio.
The months supply is defined as the number of properties for sale divided by the average number of monthly sales for the last twelve months.
According to the latest Housing Market Confidence Index (by the Ohio Association of REALTORS®), 94 percent of central Ohio REALTORS® describe the current housing market as moderate to strong and 95 percent expect the housing market to be moderate to strong over the next six months. As for home prices, 89 percent expect home prices to rise over the next year.
“Inventory levels are down, which is driving up the sales price,” says Lustnauer. “If sellers are thinking about waiting until the spring to list, I would suggest otherwise. With interest rates still low, buyers can still get a great rate while the seller can get a good price for the home.”
View the current Central Ohio Local Market Update.
View the current Housing Market Report by area.
Columbus REALTORS® is comprised of over 6,200 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.
The monthly housing reports can be found at ColumbusRealtors.com/stats. The reports include breakouts for 18 central Ohio counties and 53 local municipalities and school districts.
To view commercial properties for sale or lease in central Ohio, visit COCIE.org.
To view residential properties for sale, visit Realtor.com
The second-highest sales year on record ended with the strongest December since the housing boom in central Ohio. December home sales came in at 1,735, 2.5 percent higher than December 2012 and the most sales on record since the peak of the boom in 2005 (1,829) according to the Columbus REALTORS® Multiple Listing System (MLS).
In total, there were 27,033 closed sales in 2013 which was 17.1 percent more than 2012 (23,082).
The sale price of a home in 2013 was $174,336, an increase of 4.2 percent over 2012. The average sale price of a home in December was $176, 217, 11.6 percent higher than December 2012.
“2013 has been an amazing year for real estate in central Ohio,” says Milt Lustnauer, 2014 president of Columbus REALTORS®. “These December numbers are not surprising. Real estate isn’t a seasonal game anymore, today’s buyer is ready to act rain, shine - or snow.”
The inventory of homes at the end of the year was down to 8,732, the lowest for the month of December since 2000. As such, 2013 closed with a months supply of 3.9 percent, the lowest on record for central Ohio.
The months supply is defined as the number of properties for sale divided by the average number of monthly sales for the last twelve months.
According to the latest Housing Market Confidence Index (by the Ohio Association of REALTORS®), 94 percent of central Ohio REALTORS® describe the current housing market as moderate to strong and 95 percent expect the housing market to be moderate to strong over the next six months. As for home prices, 89 percent expect home prices to rise over the next year.
“Inventory levels are down, which is driving up the sales price,” says Lustnauer. “If sellers are thinking about waiting until the spring to list, I would suggest otherwise. With interest rates still low, buyers can still get a great rate while the seller can get a good price for the home.”
View the current Central Ohio Local Market Update.
View the current Housing Market Report by area.
Columbus REALTORS® is comprised of over 6,200 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.
The monthly housing reports can be found at ColumbusRealtors.com/stats. The reports include breakouts for 18 central Ohio counties and 53 local municipalities and school districts.
To view commercial properties for sale or lease in central Ohio, visit COCIE.org.
To view residential properties for sale, visit Realtor.com
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