Stability is in the air! The central Ohio market continued to stabilize last month with existing home sales increase and the level of supply being its lowest since August 2007!

This is most encouraging news! The level of supply is a measure of how long it would take to clear the inventory of homes based on current market trends. A decrease in the figure is showing that the market is balancing itself out better and that the already stable market is stabilizing more so.

Despite more homes on the market this June than this May, there is a decrease of 9.2% of the number of homes on the market in June of 2008 compared with June 2007. This coincides with an 8.6% increase in sales between May 08 and June 08.

Also the average sale price of a home in the Central Ohio area increased by 7% between May and June of 2008.

All great news for Central Ohio! 

If you are thinking about purchasing a property in New Albany or other surrounding Columbus area communities please contact the Raines Group for professional Real Estate advice and assistance in locating a suitable property.

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