Central Ohio home prices rising



The median list price of new listings for central Ohio homes and condos during the month of April was $199,950, an 8.1 percent increase over April 2016 and a 1.0 percent increase from March.

This is a new record high, according to according to the Columbus Realtors Multiple Listing Service.

“We continue to see increased buyer presence which is fueling home price escalation,” said 2017 Columbus Realtors President Mic Gordon. “With this kind of demand, some homes are even selling for higher than list price.”

There were 3,543 central Ohio homes and condos added to the market in April, which is a 5.1 percent increase over March, although a 10 percent decline over the same month a year ago.

These numbers include Delaware County.

This left inventory at 4,338 which was almost three percent higher than the previous month, but is still just over 19 percent lower than a year ago and has fallen year-over-year for 75 straight months. Unsold inventory is at a 1.6-month supply at the current sales pace (unchanged from the last three months).

The 2,479 central Ohio homes and condos sold during the month of April slipped 2.1 percent from the previous month, and 10.9 percent from April 2016.

“Last month marked the first dip in home sales in nine months,” Gordon said. “There’s little doubt that the number of home sales would have been higher had we had more inventory.”

Homes spent an average of 40 days on the market in April, which is 6 days fewer than March and 12 days less than April 2016.

The averages sale price of a home in April was $215,246, an increase of 7.1 percent over the same month a year ago and 5.6 percent above March.

“If you’ve considered putting your home on the market, now is the time to do so as the warmer temperatures and longer daylight hours stimulate even greater buyer activity,” Gordon said.


Staff report

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