Columbus and Central Ohio Residential Sales for August 2013
Not only is Columbus commercial real estate for sale doing well, Columbus and Central Ohio residential just had an all time record month for an August and a record year to date.
Homes sold as of end of August were up 22.9% as compared to year to date in 2012. Plus, August 2013 sales of 2,729 were 11.1% higher than August of 2012.
Median price year to date at $146,000 was up 4.3% over the year to date of $139,945 in 2012, and August median was up to $154,900 from $145,000 for a 6.8% increase.
Inventory is up slightly to 10,629 from 10,544 in July compared to 11,571 last year at this time. This is 3.9 months of unsold inventory and a six month supply is considered a balanced market. No question that this is a seller’s market. Expect more in the way of multiple offers and selling prices above asking.