Low Inventory, Higher Prices Continue In Central Ohio Housing Market
The latest Central Ohio housing numbers show the market continues dealing with low inventories and increasing prices.
The group Columbus Realtors says there were 4,286 Central Ohio houses or condos for sale in February. That's down more than 20 percent from last February, although this February's inventory was slightly higher than the record low seen in January.
The number of homes going into contract last month was nearly identical to February 2016.
Amid low inventory and steady sales, prices continue climbing. Columbus Realtors says the average sale price in February was $190,659, up 3.4 percent from last February.
The average home sold in February spent 52 days on the market. That’s down eight days from last February, but two days longer than in January.
The president of Columbus Realtors says the upside-down or under water remnants of the housing crisis are fewer and fewer with each passing month as values continue to climb and mortgage balances are paid down.