Central Ohio Housing Report – April 2015
The number of homes in contract also climbed to 3,936 which was almost 13 percent higher than March, and a 12 percent jump from the same month a year ago.
During the month of April, homes spent an average of 62 days on the market (from listing to close), down 15 days from April 2014.
“We’re educating our buyers on the current market conditions and lack of supply,” adds Shiflet. “So they aren’t wasting any time when new inventory comes on the market.”
“Another option that should always be part of the conversation is new construction. We have many first-rate builders who have new homes available or can build one to incorporate the buyer’s preferences.”
According to the latest Housing Market Confidence Index (by the Ohio Association of REALTORS®) 94 percent of central Ohio REALTORS® expect home prices to rise over the next year. When asked the reason for home sales not closing, 35 percent said inspection issues, 33 percent sited appraisal issues and 27 percent said financial issues were to blame.
Eighty-five percent said that what’s keeping local homeowners who want to sell their homes from putting them on the market is the lack of homes to buy after they sell.
The Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Morrow, Pickaway and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Marion, Muskingum, Perry and Ross Counties.