Central Ohio buyers hungry for good homes
(May 22, 2012) The
number of homes listed for sale over the past two months is lower than the
previous year
suggesting the market may be beginning to adjust itself. The 3,629 homes added
to the market in
April were 7.0 percent lower than April of 2011 and the 3,466 new listings in
March were 10.4
percent lower than the previous year according to the Columbus Board of
REALTORS®.
The number of new
listings January through April (12,588) is now 4.2 percent lower than the
same period last
year.
“The number of
residential homes for sale continues to decline - which is what the market
needs,” said Jim
Coridan, 2012 President of the Columbus Board of REALTORS®. “The inflated
inventory we
experienced after the housing boom of the mid 2000’s caused home prices
to
decrease. But 2011
saw a real stabilization of those inventory levels. As a result, home sale
prices are rising.”
The average sale
price of a central Ohio home in April was $165,324 – up 8.4 percent from last
year and 7.7 over
the previous month.
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