Record Month Of Home Sales In Central Ohio
The central Ohio housing market saw record home sales last month. The Columbus Realtors trade association says nearly 3,400 homes and condos changed hands in August. That's up nearly five percent from last year and marks the highest number of sales documented for the late summer month. Mike Foley has more.
Analysts say the virtual and hybrid school models have expanded the time frame for families to pursue a move.
The average sale price in August of $279,134 marks an increase of 12.8 percent from last year. The median sale price of $243,000 rose nearly 14 percent compared to August 2019. Homes less than $350,000 sold in an average of 17 days, roughly half the time it took for homes to sell in the $350,000 to $500,000 range.
Statewide sales activity rose for the second consecutive month, rebounding from the slowdown caused by the COVID-19 pandemic this spring. Sales in Ohio last month reached 16,311, a 4.2 percent increase from August 2019.
The average home price of $222,797 last month reflects a 12.3 percent increase from the same month last year. All 16 of the state's markets tracked by Ohio Realtors reported upswings in average sales price last month, while 10 posted gains in sales activity.
The National Association of Realtors says existing home sales around the country hit the highest level since December 2006. With mortgage rates hovering around 3 percent, analysts expect continued sales growth through the end of the year