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.
