Inventory moved up slightly in Central Ohio in June, and the Median Price For Homes Sold was the same in June as in May. However, the Average Price Per Square Foot on Sold homes moved up from May to June.
Continue reading to get details and see if it was still a Seller’s Market in June for Central Ohio.
Number Of Homes For Sale, Sold, Pending, & Just Listed in June
Homes For Sale in June 2017: 3866 units.
• ?Up 14.9% compared to the last month
• ?Down 15.6% compared to the last year
Homes Listed in June 2017: 3878 units.
• ?Up 4.4% compared to the last month
• ?Up 6.1% compared to the last year
Homes Closed in June 2017: 2981 units.
• ?Down 2% compared to the last month
• ?Down 5.5% compared to the last year
Homes Placed under Contract in June 2017: 3923 units.
• ?Up 18.9% compared to the last month
• ?Up 29% compared to the last year
June 2017 Average Sold Price per Square Foot Moves Up in Central Ohio
Average Sold Price per Square Footage in June 2017: $118
• ?Up 1.7% compared to the last month
• ?Up 6.3% compared to the last year
Central OH Average Days On Market and SP/Original LP %
The June 2017 Average Days on Market trend is Falling* in Central Ohio.
Average Days on Market in June 2017: 27
• ?Down 6.9% compared to the last month
• ?Down 15.6% compared to the last year
The June 2017 Sold/Original List Price Ratio is Rising* in the Central Ohio area.
Sold/Original List Price % in June 2017: 98%
• 0% compared to the last month
• 0% compared to the last year
*Based on 6 month trend – Rising/Falling/Remains Steady
Central Ohio Home Prices June 2017
June 2017 Median Sold Price is Appreciating*
Average Median Sold Price in June 2017: $198
• 0% compared to the last month
• ?Up 7% compared to the last year
June 2017 Average For Sale Price is Neutral*
Average For Sale Price (in thousand) in June 2017: $377
• ?Down 1.6% compared to the last month
• ?Up 14.9% compared to the last year
June 2017 Average Sold Price is Appreciating*
Average Sold Price (in thousand) in June 2017: $235
• ?Up 0.4% compared to the last month
• ?Up 6.3% compared to the last year
*Based on 6 month trend – Appreciating/Depreciating/Neutral
Months Of Inventory in Central Ohio
June 2017 was a Seller’s market* in Central OH.
Months of Inventory based on Closed Sales in June 2017: 1.3
• ?Up 18.1% compared to the last month
• ?Down 13.8% compared to the last year
*Buyer’s market: more than 6 months of inventory based on closed sales
Seller’s market: less than 3 months of inventory based on closed sales
Neutral market: 3 – 6 months of inventory based on closed sales
Central Ohio Absorption Rate
Absorption Rate based on Closed Sales in June 2017: 77.1
• ?Down 14.7% compared to the last month
• ?Up 11.9% compared to the last year
Central Ohio Real Estate Report June 2017
Despite slightly higher inventory, June remained firmly in Seller’s Market territory. The slight bump in inventory still does not meet the demand for starter and downsize homes.
Like last months report, we see that the market is ideal for move-up buyers. This means if you have outgrown your current home, now is the time to talk with a Realtor about selling your home.
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