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