COLUMBUS – More homes were sold in central Ohio, more quickly and for more money in 2016 than in any previous year, according to year-end data from the Columbus Board of Realtors.
The 31,532 home sales recorded in 2016 were 6.8 percent higher than 2015 and marked a 58.9 percent increase from the 2011 low point.
The median sale price was $170,000, 6.3 percent higher than the previous year, and the average price cleared the $200,000 mark at $202,224, up 5.8 percent from 2015 and up almost 30 percent from 2011.
“Soaring home prices are another reflection of how hot the central Ohio housing market is, which continues to be beneficial for anyone who might be looking to list their home for sale,” said 2017 board president Mic Gordon.
Homes spent an average of 43 days on the market, 12 days fewer than the previous year and another record low.
The higher prices and faster selling times were a function of a residential real estate market that continues to be tight.
The number of homes on the market was 21.8 percent lower than in 2015. December’s inventory, with 4,653 homes and condos for sale, was the lowest on record and represented a 26.1 percent drop from December 2015.