New listings soared in January 2020 in Central Ohio to 2,407. That’s an increase of 10.4 percent from January 2019 and up 61.9 percent from December 2019.

“The infusion of new inventory helped feed the strong appetite for homes in Central Ohio,” said Andy Mills, 2020 President of Columbus REALTORS®. “Over two-thirds of the homes we had for sale last month were either put in contract or sold.”

During January, 2,704 homes were put in contract, a 15.8 percent increase from January 2019, and 32.9 percent higher than December 2019.

January’s home sales of 1,745 were almost nine percent higher compared to last year (1,602), marking a record high for January home sales.

Of these home sales, roughly one out of every seven was a condominium, which was similar to last year at this time.

Home prices continue to rise also. In January, the average sales price of a home in Central Ohio increased by 9.8 percent to $229,018.

Homes in lower price ranges continue to sell faster than the homes in higher price ranges. Homes priced under $350,000 sold in an average of 30 days. Meanwhile, it took about 63 days to sell homes priced between $350,000 and $500,000. Homes ranging from $500,000 to $700,000 sold in an average of 85 days, and it took an average of 95 days to sell homes over $700,000.

See the Local Market Update from the Columbus Board Of Realtors

Buy Or Sell With Confidence in Columbus Ohio

If you’re thinking about buying or selling a home in the Central Ohio area, you want professionals working for you. At the Smart Move Group, we have experienced Realtors and a team of professionals to help propel our clients to success. Call or text us at 614-517-4916 to start your home search or find out how much your current home could sell for.