The real estate market in central Ohio continues to be a seller’s market. Home sales, purchase contracts, contract sales prices, and new listings all rose in May 2020 as compared to the previous month which was the first full month of shut down activity.
The 2,542 homes and condos sold during the month of May were up 11.6 percent from the previous month.
There were 3,232 homes and condos added to the market in May, up 18.6 percent from April. At the end of May, there were 3,210 homes for sale according to the Columbus REALTORS® Multiple Listing Service.
“Even with the added inventory, the number of homes and condominiums for sale in central Ohio remains low as buyers move quickly to purchase new inventory,” said Andy Mills, 2020 President of Columbus REALTORS®. “But now that we’re slowly re-opening, we expect to see more homeowners list their homes for sale and housing activity to rise throughout the summer.”
The median sales price of a home during the month of May in central Ohio was $233,000, which is 5.9 percent higher than one year ago. The average sales price was $258,688, up 2.0 percent from last year.