Central Ohio Housing Report – February 2015
“Central Ohio homeowners are realizing it’s a terrific time to put their home on the market. I only anticipate the number of new listings to climb as the weather gets warmer in the coming months,” Shiflet said.
There were 1,413 central Ohio homes and condos sold in February 2015, which is a 10.3 percent increase over the previous month and just a 1 percent decrease over February 2014.
The number of homes in contract also rose to 16.1 percent over the previous month and increased 12.5 percent over February 2014.
During the month of February, homes spent an average of 79 days on the market (from listing to close), down from 99 days in February of 2014.
“The increase in homes sold and in contract is an indication that buyers are hungry and ready to pounce on inventory,” said Shiflet. “Buyers are eager, engaged and not wasting any time!”
According to the latest Housing Market Confidence Index (by the Ohio Association of REALTORS®) 97 percent of central Ohio REALTORS® describe the current housing market as moderate to strong and 94 percent expect housing prices to rise over the next year.
Sixty-one percent of central Ohio REALTORS® indicated that they have noticed a slight to substantial increase in the number of millennials (buyers 35 or younger) expressing interest in purchasing a home; 27 percent said that they have seen no change and 12 percent said they have seen a slight to substantial decrease.
Source: Columbus Realtors