One thousand additional homes were added to the Columbus housing market in March but we started and ended the month with the same number of listings for sale. How is that? Buyers put the same number of homes listed into contract last month!
There’s a reason Columbus ranked #1 hottest housing market in March
(April 22, 2019 – Columbus, OH) – Earlier this month, the Columbus area was ranked #1 hottest housing market in March by Realtor.com based on home listing activity and days on the market.
Last month, there were one thousand more homes listed for sale compared to February. The jump from 2,200 to 3,200 new listings generated increased interest and foot traffic from buyers actively seeking to purchase a home in central Ohio.
As a result, more homes were sold or put in contract in March according to the Columbus REALTORS® Multiple Listing Service.
Months supply remains at 1.4 meaning that, if no more inventory were added to the market, it would take less than a month and a half to sell the current inventory based on the current sales pace.
“Even with the increase in new listings, we ended the month with roughly the same number of listings as we had in February,” said John Myers, 2019 Columbus REALTORS® President. “This means consumers bought as much as was added to the market.”
Although March 2019 homes sold or pending sale was down from one year ago, sales were up 24.7 percent from the previous month and homes that went into contract spiked 32.3 percent from February.
The median sale price of a home in central Ohio sold during the first quarter was $189,900, up 6.1 percent from one year ago. The average sale price was $221,372, up 3.9 percent from the first quarter of 2018.
“Given our strong job growth, low-interest rates and so many central Ohio buyers looking to buy a new home, we’re hoping to see new listings continue to increase as we head into the summer months,” added Myers.
Columbus REALTORS® is comprised of over 8,300 real estate professionals engaged in residential sales and leasing, commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development and more.
The Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Morrow, Pickaway, and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Marion, Muskingum, Perry and Ross counties.