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| 439 Orchard Dr. in Granville, OH was listed and went under contract in 2017. |
The average sales price of a home last year in Licking County was $194,432, which is 10.6 percent above the previous year. The median sales price of a home in 2017 was $179,900, which was 10.7 percent higher than 2016.
During the month of December, the average sales price of a home ($203,360) was 17.3 percent higher than the same month a year ago. A listing’s average days on market until sale was 42 days in 2017, down 10 days from the average in 2016.
“The healthy economy of 2017 clearly produced many buyers who were persistent in the pursuit of home ownership,” said 2018 Columbus REALTORS® President Sara Walsh. “Sales prices have continued to steadily inch up month after month, leaving us with one of the strongest housing markets on record.”
There were 101 Licking County homes and condos listed during the month of December. The resulting inventory of homes for sale at the end of December was 349 and a 1.6 months supply of inventory at the current sales pace. This means that, if no more homes were added to the market, it would take less than 1.6 months to sell all the homes and condos currently for sale in Licking County. (A balanced market is usually around 6.5 months supply.)
According to the latest Housing Market Confidence Index by the Ohio Association of REALTORS®, 95 percent of central Ohio REALTORS® would describe the current housing market as moderate to strong. Over the next year, 95 percent of respondents said they expect home prices to rise and five percent said they expect them to level.
When asked how they think residential real estate will perform in 2018, 50 percent of respondents believe it will improve at a moderate to fast rate, 40 percent think the market will continue at its current rate, and 10 percent believe we’ll see a moderate slowdown.
