Inventory levels (number of homes for sale) are down... drastically in some parts of Central Ohio.
Franklin County had 7.8 months of inventory at the end of May 2009, based on the current rate of sales the houses available would be sold within 7.8 months. There were 8645 homes for sale in Franklin County at the end of May 2009. 1112 homes sold in the month of May. At that rate it would take 7.8 months for the current inventory of homes for sale to sell.
Over all Franklin County is still a buyers market (good time for a buyer to buy) but inventory is down from the end of January 2009 when there was 14.6 months of inventory of homes (single family and condominium) for sale in Franklin County. Trendgraphix combines the single family and condominiums in the MLS to create the graphic representing the inventory of homes for sale.
Franklin County housing inventory is only down slightly from May 2008 when there was 8.5 months of inventory, but it is down.
Inventory varies greatly by community. Worthington Housing Inventory Slides shows both the City of Worthington and the Worthington School District have very few homes for sale in comparison to a year ago or even a few months ago. The chart for the City of Worthington and Riverlea shows only 4.8 months of inventory. There is 5.5 months of inventory in the Worthingon School District (includes Worthington and Riverlea as well as homes in the city of Columbus and Perry and Sharon Township.
Delaware County there were 8.9 months of inventory (homes for sale) available at the end of May 2009. That compares to 10.7 months at the end of May 2008 and a high of 18.2 months inventory of homes for sale at the end of January 2009.
There were 1801 homes for sale in Delaware County at the end of May 2009. In Delaware County 182 homes sold in the month of May 2009. At that rate there is 8.9 months of inventory of residential properties in Delaware County.
The inventory of homes varies greatly by community within Delaware County as does the rate at which homes (single family and condominium) are selling.
Franklin and Delware County are part of the Columbus Board of REALTORS® MLS. All data used to create the graph is from the MLS. The graphic is created using Trendgraphix. Real Living HER is the only company in Central Ohio licensed to use the Trendgraphix program to create graphs with the MLS data.