Fall home sales show no signs of slowing down
CentralOhio homes sales in October were up for the tenth consecutive month. There were1,964 residentialsales during the month of October, a 23.2 percent increase from the 1,594 homesales in October 2011, accordingto the Columbus Board of REALTORS®.
Homesclosed during the month of October sold for an average of $163,925, 10.1percent higher than just one year ago.
“Eventhough the inventory isn’t as high as mid-summer, you have more serious buyersand sellers,” said Jim Coridan,President of the Columbus Board of REALTORS®. “Many buyers who had planned tobuy before the fall arestill out there looking for their dream home.”
Thenumber of new listings on the market is up 12 percent (2,764) from last yearand actually increased by 1 percentfrom the previous month. Total inventory of homes (10,717) stands at 31.5percent less than 2011.
“2012has been the best year in real estate in central Ohio since 2007,” saidCoridan. “Just because their home didn’tsell in the summer doesn’t mean buyers aren’t still out there; homeowners haverecognized the advantages ofselling in the fall.”
Accordingto the latest Housing Market Confidence Index (by the Ohio Association ofREALTORS®), 84 percent of centralOhio REALTORS® describe the current housing market as moderate to strong and 68percent expect homeprices to remain the same or rise in the next year. They also report that thetypical client today is looking for amid-range home purchase.
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