Columubs Board of REALTORS announced on Wednesday the April sales numbers for Central Ohio.
How’s the market? I can “feel” it moving. I can feel it beginning to rock and roll. The $8,000 tax credit along with the low interest rates and a wide selection seem to have brought buyers from “peakers” to activce buyers.
Unfortunately, the April numbers are not showing that “love” that I’m feeling. But I think the June numbers should show it as those buyers start closing on their new homes.
The news release that was sent out by the Columbus Board of REALTORS:
April showed increasing signs of stability in the central Ohio housing market, as home sales
and prices increased, while homes on the market fell by a double-digit percentage,
the Columbus Board of REALTORS® said today.
“Home sales in April were still behind those of April 2008, but it’s encouraging to see both sales
and prices increase, said Gary Parsons, president of the Columbus Board of REALTORS®.
Inventory levels are down significantly compared to April 2008. With 16.1 percent fewer
homes for sale, the market will be balanced to benefit buyers and sellers more equally.
“As more homes are sold, and fewer are added to the market, prices will continue to rise,â€
said Parsons. “To see the number of homes on the market decline by nearly three thousand
compared to this time last year, that’s a negative number we can smile about.â€
In April 1,505 homes were sold, marking another month over month sales increase, but still
down 15.6 percent from April 2008. April marked the highest number of homes sold in a
single month since October.
Home prices continue to inch up, with April’s average sale price increasing more than 4
percent over March. However, April’s average sale price of $149,285 was down 6 percent
from the same period in 2008.
“Housing affordability is still at record levels, especially in central Ohio but for those people
with homes on the market, an increase in the selling price is welcome news,†said Parsons.
Lower-priced homes and foreclosed properties continue to drive sales, and put
downward pressure on prices.
“Although the average sale price increased in April, it still is, on average, almost $10,000
less than what it was this time last year,†said Parsons. “That means buyers have
tremendous purchasing power, but also that sellers have to be realistic.â€
