July 2016 Columbus Ohio Market Update

In July the number of homes for sale hit an annual high in central Ohio.  There was an actual 8.3 percent rise overall bringing the total number of homes for sale to 6,402.

However, the overall number of homes and condos added during the month of July decreased by 0.8 percent from the same month in 2015.  Even with this decrease, there were still a record number of homes for sale.

There is still a strong demand for homes in the Columbus area even though the last couple of years have experienced a housing shortage.  With the increase in homes for sale, this is great news for buyers as their are now more choices.

July 2016 Stats:

Average Days on Market (23.3 percent shorter than last year): 33

Year-to-date Average (19 percent faster than 2015):  47

Average Sale Price (4.1 percent increase from 2015): $213,809

Median Price (5.9 percent increase from 2015): $179,000

These numbers continue to display that investing in Columbus, Ohio homes is a smart decision as sale prices continue to increase.  Columbus continues to be one of the best markets to invest in Ohio.  Buyers should continue to favor the Columbus market making it ideal for “Fix and Flips” as well.

 

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