© 2022 WOSU Public Media
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations
News

A Lot Fewer Houses Are On The Market In Central Ohio

In this Oct. 22, 2019 file photo, a sign stands outside a home for sale in southeast Denver.
David Zalubowski
/
Associated Press
In this Oct. 22, 2019 file photo, a sign stands outside a home for sale in southeast Denver.

It’s a great time to be selling a home in Columbus, but last month saw a sharp dip in new listings.

There were fewer than 1,700 homes listed for sale in Columbus at the end of February. That’s about half as many as there were at the same time last year.

But Columbus Realtors president Michael Jones says as COVID-19 recedes, additional supply could be on its way to the market.

“As the counts come down and vaccinations continue to go up, it’s preparing us,” Jones says. “Now is the time for consumers to basically reclaim their time and prepare for our spring listing season.”

Low interest rates have encouraged more buyers into the market, which means sellers are often getting more than their asking price.

“Happened to me over this weekend,” Jones describes. “House is listed at $265,000, we make an offer of $290,000. We offer to support an appraisal deficiency of up to $10,000, and we lost it to a cash buyer."

A monthly report indicates average sales price for homes is up about 13% compared to last year.