Central Ohio housing market has a record quarter
Although new listings and home sales in central Ohio declined last month compared to August, the region saw year over year inventory gains and record sales activity in the third quarter.
There were 12,291 homes added to the central Ohio market in July, August, and September of this year - a 13 percent increase from the third quarter in 2020. It's also the highest number of new listings in a quarter since 2006 according to Columbus Realtors. Last quarter, nearly 90 percent of those listings were sold, marking another record for the region. The average sale price increased 8.5 percent in September to $301,572. For the first three quarters of 2021, homes have sold in an average of 16 days.
Meanwhile, Ohio Realtors says sales through third quarter 2021 reached 124,802, a 6.1 percent increase from last year. The average price through September of $239,608 marks a nearly 14 percent increase from the 2020 average.
Ohio Realtors President Seth Task describes the state's real estate market as returning to a place of balance as a steady rise in inventory catches up to meet the growing demand for homes. He did add that realtors nationally and in Ohio continue to work with industry partners and elected officials at all levels of government to increase housing opportunities at all price points.