Several stats are most often quoted when talking about the real estate market. Current inventory, months supply of inventory, and median sale price, for example. How can you look these up yourself? You don’t have to be a Realtor® to do so. These stats are available on the Columbus Realtors® website.
For example, we have heard that the inventory is low. How low is it exactly? Months supply of inventory is the number of months it would take for the current inventory of homes to sell given the current pace of sales.
- In June 2017, Franklin County had 1.4 months of supply and Delaware County had 2.3 months of supply.
- Central Ohio in general in June 2017 had 1.9 months of supply.
- 6 years ago, in June of 2011, Central Ohio had about 10 months of supply.
Indeed, the inventory is low!
I had to go to the archive to get the 2011 statistic, but all are available at the link above.