In a somewhat surprising twist, the Columbus housing market bounced back in April. This month’s home sales stats are almost a complete opposite of March’s.
Median Sale Price Skyrockets by 12.4%
In April the Median Sales Price of existing homes increased to $213,600 (up by 12.4%) – the highest number we ever recorded.
This chart shows how the median sales price changed since 2017 (compared to the same month the previous year).
“Median” means that half of all homes sold for less than $213,600, the other half for more. As there were 2,682 total sales, 1,341 of all Central Ohio homes sold for more than $213,600.
When the median sales price increases, we sell a larger number of expensive homes.
The average sales price on the other hand was $242,063 – up by 7.4% compared to a year ago. This number is the average of all sales that closed in April 2019.
Major Bounce-Back in April Bucks National Trend
Closed transactions and pending contracts were up by more than 3% over last year’s numbers. This put another damper on the already low inventory, which stayed at last year’s level.
The inventory can’t recover as there are not enough new listings. Home owners are not selling in fears of not being able to find a new home to move to.
Columbus Housing Market Beats Nation
Nationwide home sales have declined by 1.1% in April and 8.6% in March. It appears Columbus is one of the hottest markets in the country after all.
View the newest RE/MAX housing stats video here!
April 2019 Housing Stats
Click this link to see detailed April 2019 Housing Data.
Here are the highlights (numbers compared to the same month a year ago):
- Closed Transactions – 2,682 – UP by 3.6%
- Pending Contracts – 3,710 – UP by 3.8%
- Inventory for Sale – 3,833 – DOWN by 0.4%
- New Listings – 3,711 – UP by 0.4%
- Days on Market – 32 – DOWN by 3.0%
- Average Sales Price – $242,063 – UP by 7.4%
Call or text me TODAY at (614) 975-9650 and don’t miss any opportunities in today’s hot housing market!
Susanne Novak has been a Realtor since 2007. She is the broker and owner of RE/MAX 24/7 in the Dublin Historic District. Susanne typically helps 50-60 families each year with their real estate needs. She's your trusted advisor when you search for your dream home, and a skilled negotiator when she lists your property to get top dollar when you sell.