Central Ohio home sales rebounded last month after a decline in February.
March ended with 2,493 homes sold, 574 more than February's figure and a 2.6 percent increase from a year ago. The Columbus REALTORS® Multiple Listing Service says In Contracts rose by almost 900 last month to 3,289, an 8.2 percent increase from March 2020.
After beginning 2021 with two months of new listing declines, the region saw 3,094 homes enter the market in March, a more than 50 percent jump from February. While that sparked sales, the strong activity left the available inventory at a record low of 1,639.
The listing service says it would take just a couple weeks to sell the existing inventory at the current sales pace. Homes under $350,000 sold in an average of just 20 days. Industry experts remain hopeful for additional sellers this spring as more people receive the coronavirus vaccine.
Activity across Ohio also rose in March, as sales increased 3.1 percent from the level reached during the same month a year ago. Ohio REALTORS says 13 of the 16 markets the group tracks experienced an increase in average price last month compared to a year ago and 12 showed an increase in sales activity.
