Columbus Housing Market Experienced Record Highs In 2017
Last year was a record year for sales in the Central Ohio housing market, according to the organization Columbus Realtors.
In 2017, Central Ohio saw the highest number of homes sold in a single year.
More than 32,000 local homes and condos changed hands last year. That’s 1.7 percent more homes and condos than the previous year.
“Because we have such low inventory, which we’ve had for quite some time, you know homes and condos are selling quite quickly, which is a real benefit for anybody who’s deciding to put their house on the market,” says Columbus Realtors president Sara Walsh.
Walsh says home prices were also up about 6 percent.
“Average days on market was roughly 35, which was down from the previous year, which was about a month and a half, about 44 days,” Walsh says. “So the positive is that when someone says, ‘Hey, I’m ready to go,’ their home or condo is selling rather quickly.”
The record sales have resulted in record-low inventories that are far behind what's considered a balanced market.