The number of listed homes for sale dropped to record lows in central Ohio last month, causing sales to fall 2.8% from February 2017, Jim Weiker of The Columbus Dispatch reports.
Last month 1,681 homes were sold in the area. At the end of February, 3,376 homes were listed throughout central Ohio, 21% less than a year earlier and half the number listed just three years prior.
“The lack of inventory in central Ohio is a major obstacle for home buyers in today’s market,” said Sara Walsh, president of the Columbus Realtors trade group.
The added competition for homes pushed the median sales price of a Columbus-area home to $177,000, 9.3% higher than a year ago, Weiker notes.
Julie Wills, an HER Realtors agent, last month listed a home in Uptown Westerville for $344,900 and worried that the price was too high because the home only had one full bath. Instead, the home drew 42 showings in two days and 11 offers, many of them for cash and most over asking price.Read More