Delaware County’s housing market continued to improve in 2013, but it is still not quite back to pre-recession heights.
Closed sales, average sale price and new listings were up significantly, while stays on the market until sale fell precipitously.
“It was definitely on the uptick,” said Realtor Carol Brulotte of Better Homes and Gardens Big Hill.
Closed sales increased to 3,292 in 2013, an increase of 16 percent over 2012, according to data from the Columbus Board of Realtors.
Brulotte said the large increase in sales could have been even larger if the weather had not been so bad throughout the winter.
The average sale price rose 3 percent, to $276,612. Sellers received 95.3 percent of the original listed sales price in 2013, an increase of 1.6 percent.
New listing were up 4.6 percent in 2013. Brulotte also said she has seen some evidence that new builds are also on the rise.
Still, she said, one of the few weaknesses in the current housing market is a lack of inventory.
“We need more inventory. We need more people to sell,” she said. “I think its sort of leaning over into the sellers’ market just because we don’t have enough inventory.”
Perhaps one of the most encouraging signs in the report is the fact that houses were on the market for an average of 63 days in 2013, a decrease of 30 percent compared to the 90 days a house averaged on the market in 2012.
Despite the encouraging numbers, Brulotte said the market is still not back to full strength. However, it does not have to go as far as some other areas to get there, she said.
The makeup of the central Ohio economy – based largely on white collar industries – allowed the market to rebound more quickly than other areas.
Heading into the the second quarter of 2014, Brulotte expects the market to continue improving.
“I expect it will be as strong spring and summer,” she said.