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Home sales up 17% in September
Posted: 10/20/2011
Columbus Board of REALTORS®


(Oct. 21, 2011) Home sales in central Ohio were up almost 17 percent in September making three consecutive months of home sale increases. According to the Columbus Board of REALTORS®, 1,719 homes sold in September which is 16.6 percent more than the previous year’s 1,474 sales.

In addition to the increase in sales, homes that were put in contract also increased by over 58 percent last month. Year-to-date home sales (January through September 2011) are still trailing 2010 by 3.7 percent.

“As home sales for the last three months have surpassed 2010, the year-to-date sales statistics continue to narrow the gap between this year and last year when the home buyer tax credits were in effect,” says Rick Benjamin, 2011 President of the Columbus Board of REALTORS®. “Although many agents are reporting increased activity, time will tell whether that activity translates into actual home sales.”

The median sale price for home sold during the month of September was $128,000, up from $127,500 in September 2010, but the median sale price is still 3.8 percent behind last year’s average for the months of January through September.

The month’s supply, a measure of inventory that estimates how many months it would take to sell the entire home inventory, fell 17.2 percent to 8.7 percent from 10.5 percent last year.

“A balanced market for central Ohio is around 6˝ or 7 months supply,” said Benjamin. “So the decrease is one more positive sign for central Ohio housing.”

The Columbus Board of 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.

 

Home sales up again in August 2011
Posted: 9/21/2011
Columbus Board of REALTORS®


August marks the second consecutive month of increased home sales this year after the first half of the year vied to compete with increased sales from 2010 due to the home buyer tax credits. According to the Columbus Board of REALTORS®, 1,946 homes sold in August which is 15.4 percent more than the previous year and 4.3 percent higher than July 2011.

Residential homes which went into contract for sale was also up over 50 percent from one year ago.

“The month of August is traditionally a month for higher home sales,” says Rick Benjamin, 2011 President of the Columbus Board of REALTORS®. “Families with children usually choose the summer months to make a move and strive to close before the new school year begins.”

There were 3,059 homes listed last month bringing the total residential inventory of homes for sale to 15, 192 – down 21 percent from one year ago.

The average sale price of $171,027 last month was up slightly (one percent) over the previous year and 0.5 percent higher than the average sale price of a home sold in July.

Average sale prices in Bexley ($439,367), Grandview Heights ($284,400), Westerville ($189,476), German Village ($317,305) and Upper Arlington school district ($322,199) saw double digit increases last month. The same applies to the counties of Logan ($110,855), Morrow ($103,910), Knox ($128,365) and Madison ($159,326).

“REALTORS® are counseling sellers to price their homes realistically, make certain their homes are well maintained and be willing to negotiate financing terms,” adds Benjamin. “Once the home is sold, the seller most often becomes the buyer and will be looking for the same fair treatment.”


The Columbus Board of REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Morrow, Pickaway and Union Counties and parts of Athens, Clark, Clinton, Champaign, Fairfield, Hocking, Knox, Logan, Marion, Muskingum, Perry and Ross Counties.