In addition to the increases in sales home prices continue to rise also. While the average sale price has increased every month in 2013 from $149477 in January to $163084 in April the average sale price year-to-date ($156386) is up almost one and a half percent from 2012.
"Even with more homes being sold and sale prices up the average time on the market continues to fall: down over 20 percent from a year ago" says Chris Pedon 2013 president of the Columbus Board of REALTORS. "With such excellent market conditions we're seeing inventory move quickly."
There were 3965 new listings added to the market in April up 8.9 percent from April of 2012. New listings also saw increases from one year ago and have been rising every month this year.
"Central Ohio continues to see improvement in nearly every aspect of the market" Pedon continues. "We have not seen the number of new listings this high in any month since April 2010."
According to the latest Housing Market Confidence Index (by the Ohio Association of REALTORS) 98 percent of central Ohio REALTORS describe the current housing market as moderate to strong and 94 percent expect home prices to increase in the next year.