COLUMBUS – The high tide reached in the Columbus real estate market in June was almost immediately eclipsed by another record month for home sales and prices last month.
Sales last month were up 11.7 percent from July of 2014 and the 3,208 houses that changed hands was the most of any month on record, according to the Columbus Board of Realtors.
The number of homes sold across Ohio in July rose 15.4 percent, according to the Ohio Association of Realtors.
“Sales activity in July was the second strongest monthly total since we began reporting data in 1998, trailing only October 2005,” said OAR president Greg Hrabcak. “The marketplace is also continuing to experience a steady, modest rise in the average sale price.”
Home prices in Columbus averaged $206,691, up 3.9 percent from a year ago, and also represented a new record high. Statewide, July’s average home price of $167,425 reflected a 2.6 percent increase.
Houses were still flying off the market thanks to inventory that remains tight, spending an average of 43 days on the market, which is down from 55 days one year ago and another record low for any month.
For the first seven months of the year home sales in central Ohio are up 9.7 percent compared to the same period last year and the highest on record for the first seven months of any year.