COLUMBUS, Ohio – The number of homes sold in central Ohio declined for the third straight month, but a supply that is at its lowest in nearly 11 years hints at rising prices and a quickening of the pace in the future, according to figures released today by the Columbus Board of Realtors.
Although sales in January dropped 14 percent from December, not surprising at a typically slow time of the year for home sales, the regional market still enjoyed its best January since before the recession.
The 1,374 sales during the month were the highest for January since 2007 and were 20.4 percent above January of 2012, according to the Board’s monthly data.
The number of homes for sale in central Ohio is at its lowest since the summer of 2002, board president Chris Pedon said.
Home prices hit their lowest in several years during the recession but are recovering, aided by the small number of homes being added to the market: 2,578 last month, which is down 6 percent from a year ago, Pedon said.
The median price of $129,000 is up 5.3 percent over the same time a year ago.