Central Ohio buyers are still struggling to find homes to buy due to low inventory. With Covid-19 cases still on the rise in our area sellers are still holding off on listing their homes. We saw a rise in the number of houses and condos that hit the market in June (3,554) compared to May (2,232). More inventory is great news for buyers, but we are still at a historic low of the number of homes to buy. In June there were 2,948 active listings which is down 38.4% from the year before.
Home prices are moving upward as well. Central Ohio Homes sold for an average of $272,020, up 4.1% from the year before. The median sales price was $241,000, An increase of 5.7% from the year before. Low inventory is driving these increases.
The Columbus market is the fastest selling housing market in the U.S. According to Zillow homes are selling in a median of 5 days. The national median is 22 days. The next 2 fastest selling markets are Cincinnati and Kansas City markets, selling in a median of 6 days.
REALTORS® are noticing a change in what buyers are looking for in a home. Not surprisingly, people are looking for office space in their homes! There are more people than ever that are working from home and there does not seem to be any change to that on the horizon.
As of the end of June Carleton Realty’s sales are up 19% this year and our transactions are up 15%. Our agents are working tirelessly to make sure that all of our client’s needs are being met.
Contact us if you are considering buying or selling. We can help you navigate the process!