Industry News

Central Ohio real estate sales jump 9.5%

Record inventory fuels buyer's market

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Central Ohio home sales grew 9.5 percent in March from a year ago, as the inventory of for-sale homes reached a new high, according to statistics from the Columbus Board of Realtors. March statistics indicate that 2,344 homes were sold, up from 2,140 homes sold a year earlier. More than 5,100 residential homes were added to the market in March, up 14 percent from March 2005, according to the board. This brings the total homes listed to 15,990 -- 25 percent more homes than were on the market one year ago. "An increase in sales of almost 10 percent is a headline in and of itself," said Chris Reese, president of the Columbus Board of Realtors. "However, the increase in sales is still not proportional to the increase in inventory which, consequently, means there are still many sellers whose homes are taking longer to sell." Areas seeing the highest number of listings include southeast Delaware County, Hilliard, Dublin, southeast Columbus, Old Town East/German Village, and the ...