August Posts Record Number for Home Sales

August Posts Record Number for Home SalesAccording to Columbus REALTORS®, the Columbus region has hit the highest home sales ever on record. According to Chris Pedon, 2013 president of Columbus REALTORS®, ” There was only one summer – back in 2005 at the height of the housing boom – when we came close to seeing the volume of homes sold this year.”

After previous talk of the housing market being in recovery, it would seem that for the time being – In Columbus at least – it has more than recovered. Not only have sales increased, but interest rates are also remaining low (although rising).

Columbus REALTORS® also report that school systems have noticed the sales bump as enrollment has increased.

“In addition to the City of Columbus, other school systems with high sales numbers in August included southwestern, Olentangy, Hilliard, Westerville, Dublin and Worthington. Although not necessarily in the top ten for numbers of sales, Washington Court House, Granville, West Jefferson, Northridge, London and Gahanna Jefferson school districts saw notable sales gains compared to August of 2012. ” – Chris Pedon, Columbus REALTORS®

Let’s talk numbers: August saw 3,253 homes go into contract, which was 9.2% higher than the pending sales in August 2012. Even with the stark rise in the volume of sales, Pedon states that there is still a larger demand for homes, than is being supplied in the Columbus housing market: “Although inventory has been rising all year, evidently it’s still not enough to meet today’s demands. Homeowners who’ve considered making a move should think about selling now – while the demand is still high.”

Columbus Housing Market August 2013We have crossed the peak of the summer sales season. With schools in full swing, and winter on the way, less people are in the market to sell their homes. In this seller’s market the Columbus REALTORS® are reporting a 4.3% rise in home sales from last year. And in some areas we’re seeing sellers get as much as 15% more for their home than what they would have received last year.

 

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