COLUMBUS, Ohio – The housing market in central Ohio showed signs of coming out of hibernation last month, with increases in listings and sales.
The 1,796 homes sold in March was 10.5 percent fewer than March of 2013, but over 24 percent higher than the 1,444 sold in February and represented the third straight month of gains, according to data released Tuesday by the Columbus Board of Realtors.
The long, severe winter had chased sellers indoors, but they emerged in March, listing 3,428 homes and condos. Although down 2.1 percent from the listings a year ago, it represented a 48.3 percent increase from the number added in February.
The low inventory has also helped prices increase. The median sale price of a home in March was $143,500, up 6.3 percent compared to March 2013.
Homes were also selling quicker, nearly two weeks sooner than a year ago.
Statewide, home sales in March fell 2.3 percent from February were 6.6 percent behind sales a year ago, according to the Ohio Association of Realtors.
Existing home sales in the U.S. fell in March to the lowest pace in 20 months. Analysts cited rising prices as a factor.