Columbus and Central Ohio September 2012 Homes Sales Report

Posted October 24, 2012

In Columbus, Ohio, real estate, Residential

Prices are still trending upward. Homes prices in the Columbus and Central Ohio area are up from same month last year with an average price of $169,413. That’s up 8.1 percent over September 2011.

1,859 homes in Columbus and Central Ohio sold during September 2012, which is 2.5 percent increase over August 2012. Year to date home sales are up 11.4% over last year.

Also up is the median price. The median sales price is a mathematical halfway point between the highest and lowest sold price with the result being that 50 percent of the sold group is higher and the other 50 percent is lower. The median price of a home sold in September was $143,000 which is 12.6 percent higher than one year ago. Year to date, the median sales price of a home in central Ohio is $140,000 – 7.8 percent higher than last year. I think the number indicates less distressed sales and more move-up type properties sold.

At the end of third quarter, The Columbus and Central Ohio metro had 11,263 homes on the market, which is 31.5 percent lower than last year. The available supply on the market is 5.9 months, which is the lowest since August of 2005.

“Rising home values benefit all homeowners in central Ohio, but especially those who have been in a negative equity position,” said Jim Coridan, 2012 President of the Columbus Board of REALTORS®.

http://www.10kresearch.com/sortable/Columbus-OH/2012-09/Entire-MLS.pdf

http://www.10kresearch.com/sortable/Columbus-OH/2012-09/main.htm

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