Columbus and Central Ohio Multiple Listing Service has announced the first-half 2009 sales statistics.
Columbus and Central Ohio Multiple Listing Service announced the sales statistics for the first-half of 2009 this week. The numbers show what most of us believe … the market is getting better, slowly.
The press release sent out by the Columbus Board of REALTORS:
More than 2,000 homes changed hands in June, the highest number in 10 months, as the market reached its most balanced levels in nearly three years, the Columbus Board of REALTORS® said today.
Month’s supply – the figure that best illustrates the relationship between supply and demand in the housing market – is at its lowest point since August 2006.
The month’s supply number for June was 7.12, meaning that if no new homes were added to the market, it would take slightly more than seven months to sell all remaining inventory.
“This new low is something to be proud of, because it means central Ohio is not seeing the volatility in supply and pricing that much of the rest of the country is experiencing,†said Gary Parsons, president of the Columbus Board of REALTORS®.
“A market is typically considered balanced with around a 6.5 to 7 month’s supply, so this is a case where we like to see numbers decreasing,†said Parsons.
New listings were also down by 13.2 percent compared to last June.
June marked the highest number of homes sold in a single month since August. There were 2,092 homes sold in June, a 15.6 percent increase over May but down 6.7 percent from June 2008.
“More than 1,600 homes went into contract in June, more than any other month since last August, which is a promising sign for the second half of summer sales and the central Ohio market,†said Parsons.
“We are continuing to see more homes sell; more go into contract, and fewer entering the market which is good news for buyers and sellers – things work best with a balanced market.â€
The average sales price was $169,270 in June, the highest in nearly a year, but still off by 6.2 percent compared to June 2008.
“I expect that with only 130 days left to take advantage of the $8,000 first-time homebuyer tax credit, we’re going to be busy heading into late summer and early fall,†said Parsons.
