Columbus and Central Ohio July 2012 Residential Homes Sales Report

Posted August 22, 2012

In Columbus, Ohio, real estate, Residential

Great news: homes prices in Columbus and Central Ohio hit their highest in five years with a average price of $186,781, which is a whopping 10.3% higher than July 2011. The higher priced areas saw the biggest gains, which is even better news in my opinion.

2,096 Columbus and central Ohio homes sold during July 2012, which is an 8.0 percent increase same month last year. Year to date home sales are 10.7 percent ahead of last year Homes sales in the upper end communities saw increases from 12 to 67%.

“Some areas can attribute higher sales and prices to their school districts as families with school-age children are more likely to move during the summer,” said Jim Coridan, President of the Columbus Board of REALTORS®. “But in some areas, prices are showing healthy increases because demand is greater than the supply of homes for sale.”

New listings were up at 4%, but that’s not enough to keep up with sales increases so gradually the Columbus and Central Ohio market will become a sellers’ market. Year to date new listing were down 3.5% from last year, which is a sure sign of a tightening market. In contracts were up a giant 54% from July last year.

http://www.10kresearch.com/sortable/Columbus-OH/2012-07/Entire-MLS.pdf

http://www.10kresearch.com/sortable/Columbus-OH/2012-07/main.htm

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