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