Central Ohio buyers hungry for good homes

(May 22, 2012) The number of homes listed for sale over the past two months is lower than the

previous year suggesting the market may be beginning to adjust itself. The 3,629 homes added

to the market in April were 7.0 percent lower than April of 2011 and the 3,466 new listings in

March were 10.4 percent lower than the previous year according to the Columbus Board of

REALTORS®.

The number of new listings January through April (12,588) is now 4.2 percent lower than the

same period last year.

“The number of residential homes for sale continues to decline - which is what the market

needs,” said Jim Coridan, 2012 President of the Columbus Board of REALTORS®. “The inflated

inventory we experienced  after the housing boom of the mid 2000’s caused home prices to

decrease. But 2011 saw a real stabilization of those inventory levels. As a result, home sale

prices are rising.”

The average sale price of a central Ohio home in April was $165,324 – up 8.4 percent from last

year and 7.7 over the previous month.