COLUMBUS, Ohio (WCMH) — For the fourth month running, new listings in Columbus increased by over 20%, according to a report from Columbus Realtors.
But the number of home sales lagged the number of new houses on the market by about 1,000 homes — for the first time in months.
“It’s possible we’re seeing a change in the pace of housing activity as we head into the fall,” said Michael Jones, 2021 President, Columbus REALTORS on their website. “The welcome increase in inventory is giving buyers more choices, as well as a little more flexibility to consider their options.”
There were 4,612 homes added to the central Ohio market last month, which was an increase of 21.0% from last year. However, at 3,630, the number of home sales only increased 2.7%, a marked change from the double-digit increases seen in eight of the last 10 months, according to the report.
The average price of a home sold in July was $313,737, up 12.8% from July 2020. The median sale price was up 12.2% to $275,000, and homes sold in about 11 days.
Homes under $350,000 sold in an average of 9 days. Homes sold between $350,000 and $500,000 took about 12 days to sell. Homes in the $500,000 to $700,000 price range sold in an average of 15 days, and homes over $700,000 were on the market for an average of 18 days, the report said.