Central Ohio home sales dropped 11.8 percent in September from a year ago, as a plethora of for-sale listings continued to eat away at prices, the Columbus Board of Realtors reported.
According to statistics, 2,134 homes were sold last month, down from 2,420 a year earlier. Year to date, Central Ohio has recorded 20,587 sales, which is 3 percent below the same period last year.
The average price of a home sold in September sank to $172,476, down 1.5 percent from $175,162 a year ago. By comparison, the average sales price was $179,782 in August, $184,521 in July and $192,424 in June.
Some 3,884 new listings came on the market in September, bringing the total number of active listings at month-end to 18,485, the board reported. September’s supply of homes for sale dipped slightly from August but was 17.8 percent higher than a year ago.
“Sellers need to understand what they are dealing with in the current market,” said Chris Reese, president of the Columbus Board of Realtors. “We still have elevated levels of inventory to compete with, homes are selling for less than they may have a year ago, and it’s taking longer to sell a home due to these factors.”
The Columbus Board of Realtors Multiple Listing Service serves all of Franklin, Delaware, Fayette, Madison, Morrow and Union counties and parts of Champagne, Clark, Licking, Fairfield, Knox, Logan, Marion and Pickaway counties.