Foreclosures during the Great Recession added to thousands of blighted properties in Columbus. But, a state program helped fund demolition of many of those houses and apartment units.
Central Ohio Home Sales Up; Becoming A Sellers’ Market
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, â€œThe pendulum is swinging from a buyersâ€™ market back toward a sellersâ€™ market. But I think weâ€™re very stable; weâ€™re right in the middle. So itâ€™s a great time for both buyers and sellers.â€
The good news for buyers is they still can take advantage of low interest rates.
â€œThey donâ€™t have as many choices as they did before,” Pedon said. “But they still have good opportunities to make good buys.â€
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, itâ€™s still the lowest level of inventory since 2002.