Housing Market Update
It’s been rather a warm winter so far; thus, the real estate market remains quite hot! New listings in January jumped to 2,407, an increase of 10.4 percent from a year ago and up 61.9 percent from the previous month according to Columbus REALTORS® Multiple Listing Service.
“The infusion of new inventory helped feed the strong appetite for homes in central Ohio,” said Andy Mills, 2020 President of Columbus REALTORS®. “Over two-thirds of the homes, we had for sale last month was either put in contract or sold.”
Home sales rose to 1,745, almost nine percent above one year ago (1,602) and a record high for home sales during the month of January.
In addition to the increases in sales, home prices also continue to rise. The average sales price of a home in central Ohio increased by 9.8 percent to $229,018 in January.
With the holidays behind us, buyers are flooding the housing market, making it a perfect time to get your home on the market!