COLUMBUS – Home sales in central Ohio fell last month as fewer properties were listed, further squeezing an already tight supply.
The 3,070 homes and condos sold during the month of July was 5.5 percent fewer than June and a 7.6 percent decrease from July 2015, according to data released Wednesday by the Columbus Board of Realtors.
There were 8.3 percent more homes on the market in July than in June, a high-water mark for the year but still down almost 20 percent from last year.
“The increase in homes for sale was good news for buyers given the inventory shortage we’ve been experiencing for the last couple years,” said board president John Royer.
U.S. sales of existing homes fell 3.2 percent in July amid fewer listings and climbing prices, problem that might also be contributing the slowdown in central Ohio, where the median price of a home was $179,000 in July, up 5.9 percent from one year ago.
Those properties that are listed are still being snatched up by eager buyers: Columbus homes spent an average of 33 days on the market, which is 10 days shorter than last year and the lowest on record. For the first seven months of the year, homes spent an average of 47 days on the market, also a record low.