Source:

Columbus Board of REALTORS ®
Feb. 22, 2010) January, a traditionally sluggish time for home sales, saw a nearly seven percent increase in home sales in central Ohio with 1,025 homes sold last month compared to 959 in January of 2009. This makes the fifth straight month where sales have increased over the previous year, according to the Columbus Board of REALTORS ®.

This news, coupled with the 12.5 percent increase in new listings and the 6.2 percent growth in average sale price, indicates a market that is returning to sustainability.

œCentral Ohio is faring better than we could have foreseen, said Sue Lusk-Gleich, President of the Columbus Board of REALTORS ®. œHomes are spending fewer days on the market and the average sale price is increasing. Today, our market is the strongest it has been since the housing boom.

Homes spent an average of 90 days on the market, a reduction of seven days from January a year ago. The month™s supply, a measure of inventory that estimates how many months it would take to sell the entire home inventory, fell 6.6 percent from this time last year.

œWhile there are still some reasons to be cautious, Lusk-Gleich explained, œit seems there are just as many reasons to be optimistic.

The average sale price in January was $145,993, up from $137,446 in January 2009. Total dollar volume rose 13.5 percent from a year ago to reach $149,642,825.

New listings grew from 3,016 in January 2009 to 3,393 last month.

Lusk-Gleich concluded, œFive straight months of sales increases and three straight months of sales price increases is very good news for the central Ohio housing market. And with the tax credits available for existing and first-time buyers, we expect positive numbers for the next several months!