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New listings jump in January

COLUMBUS – 2020 started with a bang in central Ohio as new listings in January jumped to 2,407, an increase of 10.4 percent from a year ago and up 61.9 percent from the previous month according to Columbus REALTORS® Multiple Listing Service.
“The infusion of new inventory helped feed the strong appetite for homes in central Ohio,” said Andy Mills, 2020 President of Columbus REALTORS®. “Over two-thirds of the homes we had for sale last month were either put in contract or sold.”
There were 2,704 homes that were put in contract during the month of January which was 15.8 percent higher than the previous year and 32.9 percent higher than December 2019.
January home sales rose to 1,745, almost nine percent above one year ago (1,602) and a record high for home sales during the month of January.
Of the homes sold last month, roughly one out of every seven was a condominium similar to last year.
In addition to the increases in sales, home prices continue to rise also. The average sales price of a home in central Ohio increased 9.8 percent to $229,018 in January.
During the month of January, homes under $350,000 sold in an average of 34 days. Homes sold between $350,000 and $500,000 took about 77 days to sell. Homes in the $500,000 to $700,000 price range sold in an average of 81 days, and homes over $700,000 were on the market for an average of 158 days.

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