Fall home sales show no signs of slowing down
Central
Ohio homes sales in October were up for the tenth consecutive month. There were
1,964 residential
sales during the month of October, a 23.2 percent increase from the 1,594 home
sales in October 2011, according
to the Columbus Board of REALTORS®.
Homes
closed during the month of October sold for an average of $163,925, 10.1
percent higher than just one year ago.
“Even
though the inventory isn’t as high as mid-summer, you have more serious buyers
and sellers,” said Jim Coridan,
President of the Columbus Board of REALTORS®. “Many buyers who had planned to
buy before the fall are
still out there looking for their dream home.”
The
number of new listings on the market is up 12 percent (2,764) from last year
and actually increased by 1 percent
from the previous month. Total inventory of homes (10,717) stands at 31.5
percent less than 2011.
“2012
has been the best year in real estate in central Ohio since 2007,” said
Coridan. “Just because their home didn’t
sell in the summer doesn’t mean buyers aren’t still out there; homeowners have
recognized the advantages of
selling in the fall.”
According
to the latest Housing Market Confidence Index (by the Ohio Association of
REALTORS®), 84 percent of central
Ohio REALTORS® describe the current housing market as moderate to strong and 68
percent expect home
prices to remain the same or rise in the next year. They also report that the
typical client today is looking for a
mid-range home purchase.
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