July home sales surpass asking price on average
Central Ohio home prices soared in July despite the coronavirus pandemic, as buyers competed for a smattering of homes on the market.
Demand for homes was so high that for the first time in central Ohio history, the average sales price of a home exceeded the asking price, according to the Columbus Realtors trade group.
The median price of a Columbusarea home sold in July jumped to $245,000, 11.4% higher than a year ago. Through the first seven months of the year, prices are up 7.2% from the same period last year.
“For most buyers, paying more than the list price goes against the grain, as negotiation is traditionally a part of the home buying process,” Columbus Realtors President Andy Mills said. “However, due to high demand and low supply, competition is stiff.”
Central Ohio home sales also rose sharply in July, up 6% from a year ago, following three months of decline during the pandemic.
From its seven offices in Ohio, Florida and Texas, Equity developed over $90 million in projects last year, and manages about $400 million in assets. The company employs 70 people in its Hilliard headquarters.
In addition to development services, the company offers commercial construction, leasing, management and sales. This year, Equity was recognized by the Conway Center for Family Business for its succession plan.
Steve Wathen said Truepointe won’t be the Equity’s last stop in its hometown area.
“We’re working on several other sites in central Ohio, he said.” jweiker@dispatch.com @Jimweiker