Columbus home price median climbs to $269,900
Columbus-area home prices jumped again in September, but homes sat on the market slightly longer and home listings rose during the month, offering glimmers of hope for shoppers.
Homes in Greater Columbus sold for a median price of $269,900 during the month, up from $240,000 last September, according to figures released Thursday by the Columbus Realtors trade group.
Sales of Columbus-area homes also rose, up 5.8% from a year ago. Those homes sold in an average of 14 days, down from 21 days a year ago, but up from 11 days in August.
Perhaps the best news for home shoppers: 3,649 homes in the region were put on the market in September, up from 3,491 a year earlier. For the first nine months of the year, home listings are now up 12.5% over last year.
“Tight inventory over the past several years created a very competitive market, causing some angst for many home buyers,” Columbus Realtors President Michael Jones said in a news release. “The increase in new listings has been a benefit.”
Statewide, prices rose 8.8% in September from a year ago but inventory levels also rose.
“We’re seeing the Ohio real estate market return to a place of balance, with a steady uptick in the level of homes being marketed for sale across most of our markets,” Ohio Realtors President Seth Task said in a news release.
Nationally, September home sales rose 7% from August while the median sales price climbed 13.3% to $352,800.
“Some improvement in supply during prior months helped nudge up sales in September,” said Lawrence Yun, chief economist with the National Association of Realtors. “Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year.”
Zillow Senior Economist Kwame Donaldson also found some hope for buyers in Thursday’s figures.
“Inventory and the number of days homes typically spend on the market before selling both inched a little higher in September, giving would-be homeowners a few more options and a little more time to make the final purchase decision,” Donaldson said in a news release.
@JimWeiker