August Home Sales Record High

Central Ohio home sales for summer 2013 stand at their highest point on record. Chris Pedon, Columbus board of REALTORS president, states that "home sales over the summer were off the charts." He notes that only one summer (2005--the height of the housing boom) even came close to seeing the same volume of home sales. Homes sold from January-August of this year exceed those that sold during the same time in 2012 by 23%, and also surpass those of any prior year. The 2,729 home sales in August of this year marks another record high, exceeding August 2012 home sales by 11%. School systems are noticing this trend, indicated by increased student enrollment in many major school systems such as Dublin, Olentangy, Hilliard and Westerville. While inventory is slowly increasing and home sales are slightly declining from earlier summer months such as July, demand still outnumbers supply. Pedon advises homeowners who have considered moving to move now, before demand further declines. Read the full housing report here.

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New Listings up 20% From May 2012

The Columbus Board of Realtors recently published that May had the highest number of new listings in one month since April 2010. May's 4,213 new listings yields a 19.6% increase from that month last year. Home sales in Central Ohio also experienced a sharp increase--up 27% from the same time last year. May saw 2756 home sales in 2013--the most home sales for the month of May on record. The median and average price of a sold home in Central Ohio also rose from that of one year ago, by 8.3% and 5.9%, respectfully. Even though inventory remains 16% lower than this time last year, which creates intense competition among buyers, the Columbus Board of Realtors President Chris Pedon states that this "obviously isn't curbing people's interest in buying homes." As market confidence continues to grow, more homes are expected to be listed for sale.

Read the full article here.

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