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Central Ohio's Hot Real Estate Market Lowered Home Supply Last Year

Flora Alix-Flickr

Real estate in central Ohio last year saw some of its highest home sales and prices on record. The demand resulted in a smaller supply of homes and a shorter average time on market.

Last year's home sales in Central Ohio totaled about 31,500, a nearly 7 percent increase over the year before. It also marked a nearly 59 percent increase from the area's lowest point in 2011.

The average sales price of a central Ohio home last year was a little more than $200,000.

Home inventory also set records with the lowest inventory ever in December with only about 4,600 homes and condos available for sale. That's a 26 percent drop from 2015.

Last year, Central Ohio homes and condos spent an average of 43 days on the market, 12 days fewer than in 2015, setting another record low.