COLUMBUS – For the first time in more than seven and a half years, the number of homes and condos for sale in central Ohio increased compared to the number a year ago, providing some relief to buys who have been struggling with a tight supply of homes on the market and rising prices.
The 5,589 homes listed in September is up 2.6 percent from one year ago, breaking a long streak of year-over-year declines in inventory, according to the Columbus Realtors Multiple Listing Service.
“For ninety-one straight months inventory was declining and favored the sellers while discouraging buyers in some price points. This slight supply shift may encourage buyers to get back in the home search arena while interest rates are still very good,” said Columbus Realtor President Sara Walsh.
There were 2,593 homes and condos sold last month, down 11.4 percent from a year ago, leaving 2018 sales 2.3 percent behind the first three quarters of 2017, a result of the low number of homes offered for sale.
The median sales price of $195,000 was an increase of 7.7 percent.
U.S. home sales fell for the sixth straight month in September, a sign that housing has increasingly become a weak spot for the economy.