Home sales are on the rise in Central Ohio. According to the Columbus Board of REALTORS home sales in March outpaced the previous month by almost 32% bringing the total number of homes sold during the first quarter of 2011 to 3,678.
1,487 homes were sold last month in central Ohio, up 31.8% from the previous month’s sales. While the year’s sales are behind 2010 by 7.9% that number is still 6.9% ahead of the 2,178 sold in the first quarter of 2009.
Homes put in contract saw an increase over last year as well, by 11.5% 2,512 to 2,252.
This looks like a trend of leveling off when you factor in the fact that this year’s average sale price for homes in central Ohio is down 3.7% from 2010, but also up 3.8% from the average sale price in 2009. Spring fever is working its magic however with the average price of a home sold in March being $144,975, up 2.1% from the previous month’s average of $140,770.
As trends in the market go it seems the supply and demand curves are working their magic. The total inventory of homes available for sale was down 22.3% from a year ago making way for this positive growth.
If you are looking to buy or sell a property in New Albany, Gahanna, Blacklick, Westerville, or another Central Ohio community, please contact The Raines Group. We offer professional real estate advice and are happy to help you achieve your real estate goals. Please contact us today via our online contact form or by calling The Raines Group at 614-418-7417.