Delaware County’s housing market remains robust, according to the latest local market update provided by the Columbus Board of Realtors.
In April, closed sales, average sale price and new listings were all higher than in April 2014.
“The market is absolutely crazy in Delaware County right now,” said Stephanie Cashman of Delaware Realty.
Home sales rose 1.4 percent over April 2014, although sales were down 1.2 percent overall through the first four months of 2015.
From April 2014 to April 2015, the average sale price of a home in the county rose to just over $289,000, an increase of 6.9 percent.
Cashman believes it is a sellers’ market at this point. Homes are currently selling for 96.1 percent of the original listing price.
“Delaware has always been able to hold their values,” she said.
However, the values have been bolstered by a lack of available homes. In April, homes were on the market for an average of 62 days, down 6.1 percent from April 2014. With 803 homes for sale in April, that is estimated to be 2.9 months’ supply of inventory.
“What we are finding is homes are selling very quickly because our inventory is very low,” said Cashman.
However, new listings were up 23.7 percent in April, which could lead to a less robust market. The median pricing of new listings rose 9.5 percent, to just under $293,000
“I think it will probably slow down in the next month or so,” said Cashman, adding she expects activity to pick up again in the fall.
“I really think it’s going to last through the year,” she said. “People are a little bit more comfortable with the economy.”