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(September 21, 2011) 

August marks the second consecutive month of increased home sales this year after the first half

of the year vied to compete with increased sales from 2010 due to the home buyer tax credits.

According to the Columbus Board of REALTORS®, 1,946 homes sold in August which is 15.4

percent more than the previous year and 4.3 percent higher than July 2011.

Residential homes which went into contract for sale was also up over 50 percent from one year

ago.

“The month of August is traditionally a month for higher home sales,” says Rick Benjamin, 2011

President of the Columbus Board of REALTORS®. “Families with children usually choose the

summer months to make a move and strive to close before the new school year begins.”

There were 3,059 homes listed last month bringing the total residential inventory of homes for

sale to 15, 192 – down 21 percent from one year ago.

The average sale price of $171,027 last month was up slightly (one percent) over the previous

year and 0.5 percent higher than the average sale price of a home sold in July.

Average sale prices in Bexley ($439,367), Grandview Heights ($284,400), Westerville ($189,476),

German Village ($317,305) and Upper Arlington school district ($322,199) saw double digit

increases last month. The same applies to the counties of Logan ($110,855), Morrow ($103,910),

Knox ($128,365) and Madison ($159,326).

“REALTORS® are counseling sellers to price their homes realistically, make certain their homes

are well maintained and be willing to negotiate financing terms,” adds Benjamin. “Once the home

is sold, the seller most often becomes the buyer and will be looking for the same fair treatment.”

Click here to view the August sortable housing market report by area.

Click here to view the entire Central Ohio local market update.