Central Ohio Housing Report - July 2011

Home sales jump 23 percent in July

Home sales in central Ohio increased significantly last month compared to July of 2010. According to the Columbus Board of REALTORS®, 1,865 homes sold in July of 2011 – a 23.3 percent increase over the 1,513 homes which sold during the same month last year.

Additionally, the number of residential homes scheduled to close was up almost 50 percent, from 1,705 last year to 2,553 last month (July 2011).

“We’ve seen a marked increase in activity this summer,” says Rick Benjamin, 2011 President of the Columbus Board of REALTORS®. “Although the economy continues to be unpredictable, buyers are getting tired of waiting for better news and deciding to take advantage of the inventory, prices and low interest rates.”

The median sale price of a home sold in July was $141,359, which is 5.9 percent higher than the median home sale price during the same month one year ago.

Although, for most areas, there are fewer listings today versus last year, the cities of Powell, Shawnee Hills, New Albany, Pataskala, Hilliard and Pickerington saw increases in the number of homes for sale. The same goes for the school districts of West Jefferson, New Albany Plain, Circleville, and Newark.

For the entire central Ohio area, there were 3,027 homes listed for sale during the month of July bringing the total inventory of available homes for sale to 15,702. The median price of a home on the market today is $144,900.

“We’re fortunate to have a very affordable market,” adds Benjamin. “Today’s buyer can find a rich variety of homes for sale in every price range.”

Click here to view the July sortable housing market report by area.

Click here to view the entire central Ohio Local Market Update.

The Columbus Board of REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fairfield, Fayette, Licking, Madison, Morrow, Pickaway and Union Counties and parts of Athens, Clark, Clinton, Champaign, Hocking, Knox, Logan, Marion, Muskingham, Perry and Ross Counties.

For more information about the central Ohio housing market, visit our Housing Statistics page.

To view commercial properties for sale or lease in central Ohio, visit COCIE.org.
To view residential properties for sale, visit Realtor.com.