Central Ohio Home Sales Up; Becoming A Sellers’ Market

Central Ohio home sales were up during the first three months of 2013. Experts say the market is turning to favor sellers.(Photo: Flickr)
Central Ohio home sales were up during the first three months of 2013. Experts say the market is turning to favor sellers.(Photo: Flickr)

More homes in Central Ohio were sold during the first quarter of 2013 compared to the same time last year. Sale numbers were up 17 percent between January and March.

And homes are selling for more. March median sale prices were up five percent to $135,000.

Columbus Board of Realtors president Chris Pedon said less inventory and higher prices means, “The pendulum is swinging from a buyers’ market back toward a sellers’ market. But I think we’re very stable; we’re right in the middle. So it’s a great time for both buyers and sellers.”

The good news for buyers is they still can take advantage of low interest rates.

“They don’t have as many choices as they did before,” Pedon said. “But they still have good opportunities to make good buys.”

There were nearly 3,500 homes put on the market last month, up slightly compared to last March. While there are almost 9,000 homes for sale in the Central Ohio area, it’s still the lowest level of inventory since 2002.

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