From the Columbus Board of Realtors: "Inventory levels in central Ohio have been declining over the past year and now stand at just over 12,000 - almost 33 percent less than one year ago and 40 percent less than July 2007, the highest month on record according to the Columbus Board of REALTORS®.
There were 3,344 residential homes listed for sale in June 2012, 6.8 percent fewer than were listed during
the same month last year. Total residential inventory in central Ohio is 12,053, the lowest since 2003.
Months of existing home inventory has decreased due to improved sales activity this year. At the current
sales pace, there are 6.6 months of existing home supply on the market compared to 11.5 months supply
this time last year.
Home sales last month were up 18.1 percent - 2,429 in June 2012 versus 2,056 in June 2011. Sales for the
first half of the year were 10,473, up 10.2 percent from homes sold January through June of 2011 (9,507).
The median sale price of a home sold in June 2012 was $155,250 which is 15.0 percent higher than homes
sold during the same month last year. Homes are also selling 4-5 days more quickly this year."
A more balanced market awaits sellers, with greater buyer activity, fewer competing listings, and low interest rates bringing more buyers and demand for listings.