Consumers: Please Visit Discover Columbus for CURRENT Central Ohio Real Estate Market Reports - this is old news but for some reason there are still a lot of people visiting. Although ActiveRain / Localism has a category for market reports a local ActiveRain member was highly opposed to my sharing this information.
Data Source Columbus Board of REALTORS® This represents all counties in the Columbus Board of REALTORS® Multiple Listing Service. Graphics source TRENDGRAPHIX. HER Real Living is the only Central Ohio real estate brokerage with access to TRENDGRAPHIX.
The good news is there are only 8.1 months supply of homes (single family, condos, fee simple townhouse) on the market in Central Ohio rather than the 9.2 months of inventory we had at the end of July. There were 2499 homes sold in August 2006 vs. the 2195 homes sold in July 2006. That is 2499 homes sold in August this year in comparison to 2850 homes sold in August 2005. Average sold price is $183,000.
Average price per square foot on homes sold in August was $105.
Average days on the market for homes sold was 94 days in August 2006 vs. 96 days in July 2006 vs. 94 days in August 2005.
The sold to list price differential is 97% as it has been for months. What does that mean to sellers? The house has to be priced right to sell. Saying "tell them to make me an offer" didn't work in a sellers market and it sure is not going to work in a buyers market.
There were more homes sold in Central Ohio in August 2006 than July, a sign that buyers are starting to see that it IS an excellent time to purchase a home in Central Ohio. Interest rates are great, there are more homes to choose from. It's a buyer's market.
Compliments of Maureen McCabe - Real Living HER Worthington* - 614-388-8249
Edit Link corrected December 2011