COLUMBUS – Homeowners in central Ohio must have made New Year’s resolutions to sell those houses but the number of home actually on the market remained low so prices were higher last month.
The $153,000 median sale price of a home in January in Columbus was an increase of 5.9 percent over a year ago, according to a monthly report released Tuesday by the Columbus Board of Realtors.
“A significant number of homes were added to the market in January, but buyers are eager for more. With prices up, if you’re having any thoughts of selling, now is the time to get the ball rolling,” said Board president John Royer.
The number of homes and condos added to the market during January was 47.1 percent higher than December, but represented a dip of 2.5 percent from January 2015.
Inventory continues to remain lower than before the year 2000 and is 17.8 percent below the level last January. Homes spent an average of 60 days on the market, which is 8 days shorter than the same month last year.
The Columbus market saw the highest January sales on record, an 8.9 percent increase over the year before, though it was nearly 30 percent lower than December. Sales across Ohio rose 16.8 percent, the 16th consecutive monthly year-over-year gain according to the Ohio Association of Realtors.
“Home sales activity throughout the Buckeye State is extremely robust, as we posted the best-ever sales totals for January. Equally impressive, the marketplace is also continuing to experience a steady, modest rise in the average sale price,” said association resident Sara Calo.
January’s average home price of $143,562 reflects a 4.4 percent increase from the $137,535 mark a year ago, Calo said.