As 2016 came to a close, the housing market continued to see a record number of home sales. We’ve been busy building and selling our condos in Columbus, Ohio and we’re geared up for selling even more this year! We are still building in The Village at Bale Kenyon and The Village at Olentangy Crossing and can’t wait for you to see them. The Columbus Board of Realtors released the December Ohio housing report and we want to share their highlights with you to keep you informed about what is happening.
Highlights for December 2016:
- There were record highs for homes sales and the highest home prices on record.
- Low inventory levels led to the lowest month’s supply and days on the market.
- Home sales recorded in 2016 rose 6.8% over 2015.
- 31,532 homes sold and 4,700 of those were condominiums.
- The average sales price of a home in central Ohio is now $202,224. (This is the total volume divided by the number of homes sold.)
- Homes between $120,001 and $160,000 sold in about 32 days. Homes sold between $160,001-$250,000 sold in about 33 days.
- December recorded the lowest inventory with only 4,653 homes and condos for sale. 2,252 homes and condos sold in December 2016.
- During all of 2016, homes and condos in central Ohio spent about 43 days on the market, which is lower than 2015.
- The feeling among realtors in the Columbus Board of Realtors is that the current housing market is moderate to strong and that home prices will rise in 2017. It is still a seller’s market with low inventory.
Home buying and selling continues to be good for everyone. If you are looking to move to a condo, now is a perfect time to sell your home and come see our incredible condos for sale. As quickly as we build them, they are being snatched up! Let us help you find your perfect condo.