By: Columbus REALTORS®
“Buyers have taken notice of the influx of inventory in central Ohio,” Shiflet said. “They aren’t wasting any time at all going after new listings that interest them!”
During the month of August, the average home sales price was $200,305, an increase of 3.4 percent over August 2014. The median sale price in August was $165,500, up .6 percent from a year ago. Year to date (January through August), the average sales price ($194,164) is up 5.2 percent and the median sale price ($161,900) is up 4.6 percent from the same period one year ago.
The average sales price is the total volume divided by the number of homes sold. The median is the midpoint — half the homes sell for less, while half sell for more.
According to the latest Housing Market Confidence Index (by the Ohio Association of REALTORS®), 79 percent of central Ohio REALTORS® expect home prices to rise over the next year, 17 percent expect them to level, and four percent expect them to fall.
When asked about their observations regarding the level of interest potential buyers have shown in purchasing their first home, 63 percent said interest has increased somewhat to a lot, 29 percent said there has been no change in interest and 8 percent said interest has decreased somewhat.
Columbus REALTORS® is comprised of almost 6,800 real estate professionals engaged in residential sales and leasing, commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development and more.
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.