This Morning’s Press Release from the Central Ohio Board of Realtors:

Home sales remain elevated in central Ohio

(Dec. 21, 2011) November marks the fifth consecutive month of increased home sales in central Ohio this year after the first half of the year struggled to keep up with increased sales from 2010 due to the home buyer tax credits. According to the Columbus Board of REALTORS®, 1,406 homes sold in November which is seven percent more than the previous year.

Additionally, the number of residential homes scheduled to close was up over 37 percent, from 1,341 last year to 1,843 last month (November 2011).

“We’re finding that sellers recognize the challenges of today’s market and are realistically pricing their homes to sell,” says Rick Benjamin, 2011 President of the Columbus Board of REALTORS®. “Buyers are responding well to the pricing and, of course, the record low interest rates. It’s still a great time to buy a home.”

Homes in central Ohio this year have sold for an average of $157,032, down 2.5 percent from the average sale price in 2010, but up over five percent from the average sale price in the first quarter of 2011. The average price of a home sold in November was $153,673, up 3.1 percent from the previous month ($149,082).

The number of homes listed for sale last month (1,949) is 20 percent less than listings added to the market in November 2010 (2,439). The total inventory of homes available for sale in central Ohio was 12,675 at the end of November, which is down 27.5 percent from one year ago. <– That’s the key phrase and why things are normalizing.

As a result, the month’s supply, a measure of inventory that estimates how many months it would take to sell the entire home inventory, fell 28.5 percent to 7.4, down from 10.3 last year.

“A healthy months supply for our market would be around 6.5. So the decrease in inventory is a positive sign of market recovery,” adds Benjamin. “Plus, based on the concept of supply and demand, when we have too many homes on the market, homes are more likely to sell for less.”

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

Click here to view the entire central Ohio Local Market Update.

Buying in German Village? Bloomberg doesn't know that market.

Remember that when you read headlines about ‘the real estate market’ (unless you’re reading them here) the real estate market in question is not your market. It’s a mythical national housing market where the numbers make no sense when trying to make home buying decisions locally.

Below is the latest from the Columbus Board of Realtors. These figures are getting warmer but guess what, the numbers included in the Columbus Board of Realtors announcements include Delaware, Fayette, Madison, Morrow, Pickaway and Union Counties and parts of Champagne, Clark, Hocking, Licking, Fairfield, Knox, Logan, Marion, Muskingham, Perry and Ross Counties.

You might just be concerned about the Franklin County numbers. Getting Warmer. Then again, if you’re selling your home in Clintonville, what do you care about how the Grove City figures look? You want to know what’s up in Clintonville. That’s what I’m here for. This, for example, is what’s up in Clintonville. Want to know what’s up in your neck of the woods? Ask.

Here is the Columbus Board of Realtors article on May numbers.

Housing activity increased in May

(June 21, 2011) The central Ohio housing market was active last month as more homes were put on the market and in contract compared to last year. There were 2,610 homes for sale that went into contract (but haven’t closed) which was up 44.8 percent over the 1,803 homes put in contract during May 2010 according to the Columbus Board of REALTORS®.

As for inventory, there were 3,723 homes added to the market in May 2011, up 10.6 percent from the 3,366 new listings during the same month one year ago.

“In contracts and new listings are both important housing market indicators,” says Rick Benjamin, 2011 President of the Columbus Board of REALTORS®. “Having such strong increases in both areas is a healthy sign for the central Ohio housing market.”

Currently, there are approximately 15,146 residential homes available for sale in the central Ohio area – 12,322 single family homes and 2,824 condominiums.

Home prices continue to inch up, with May’s average sale price up 2.6 percent over April. However, May’s average sale price of $158,191 was down 4.7 percent from the same period in 2010.

Homes closed last month reached 1,875, up 15.7 percent over April home closings, but were down 25 percent from May of 2010.

“May of 2010 was a busy month for home sales as so many buyers were on their way to the closing table after meeting the home buyer tax credit deadline,” offers Benjamin. “But sales are up over 2009 when we were in the midst of the first round of home buyer tax incentives which is yet another positive sign.”

The Columbus Board of Realtors released official February numbers today…

2011 Central Ohio home sales off to a strong start

click picture to expand

(March 22, 2011) Home sales for the first two months of the year are just 1.1 percent behind the same period last year suggesting a strong start for the central Ohio housing market according to the Columbus Board of REALTORS® (CBR).

There were 2,178 homes closed in January and February compared to the 2,202 closings during the first two months of 2010.

February home sales dipped slightly to 1,128, just 1.3 percent less than the 1,143 homes sold during the same month one year ago.

“Why are we pleased at the small decrease in sales this year” asks Rick Benjamin, CBR President? “At this time last year, the first-time home buyer tax credits were significantly impacting our sales volume. To remain at nearly the same level without that incentive is a positive sign of a strengthening market.”

“Additionally, there were 1,812 residential homes put in contract in February which is 18.7 percent more than February of 2010 (1,527). This also bodes well for March closing activity.”

Franklin County saw 658 homes sell last month and 1,637 more listed for sale, while 137 homes sold and 302 homes were listed in Delaware County. The City of Columbus topped the charts with 423 sales and 1,023 new listings. Other cities which saw higher sales and listing activity include Dublin, Hilliard, Westerville, Gahanna and Pickerington.

School districts experiencing higher sales and listing volume in February included Columbus, South-Western, Olentangy, Hilliard, Westerville, and Dublin.

“Although, the actual numbers of sales and listings for these districts were higher, we’re fortunate to have many strong school districts in central Ohio, several of which showed larger activity gains when compared to last year,” adds Benjamin. “Every area is different so it pays to ask a REALTOR® to help you interpret the data.”