Central Ohio s record real-estate year of 2020 reached extraordinary heights, with more million-dollar homes selling than ever before.
During the year, 217 central Ohio homes sold for at least $1 million (as of Dec. 28), up from 151 the previous year and 117 in 2018, according to Columbus Realtors data.
Even more remarkable, 63 of those homes fetched at least $1.5 million, more than twice the number of the previous year, according to the Vutech & Ruff HER Realtors agency. The luxury market is the strongest I have ever seen it in my almost 35 years as a Realtor, said Marilyn Vutech, a partner in the German Village firm.
Like the rest of the housing market, the luxury market benefited from incredibly low interest rates and demand for bigger and better homes from families stuck in a house since March. High-end homes got added fuel from some out-of-town buyers, according to agents.
Central Ohio s housing market is poised for its best year ever, as life inside during the coronavirus has apparently pushed on-the-fence buyers into buying new homes throughout 2020.
More Columbus-area homes are expected to be sold this year and at higher prices than ever before, according to figures released Tuesday by Columbus Realtors.
Through November, 30,703 homes changed hands in central Ohio, 3.6% more than last year and on pace to top the record of 32,218 sales set in 2017, according to Columbus Realtors.
During the same 11 months, the median price of a home rose 10.4% from the same period last year, also on pace to surpass the biggest annual price hike of 7% set in 2012. In November, central Ohio homes sold for a median of $231,750, 14.6% higher than last November.
The Columbus REALTORS® Multiple Listing Service says November home sales increased 12.7 percent.
Year to date sales are up 3.6 percent and expected to end 2020 as the highest sales year in central Ohio history. class= wysiwyg-break drupal-content src= /sites/all/modules/contrib/wysiwyg/plugins/break/images/spacer.gif title= >The group says 2,902 homes were put in contract last month suggesting another increase for December.
A big reason for the region s strong housing market - sales between $350,000 - $500,000. Homes in that price range have accounted for 14 percent of the year s sales, an increase of almost 28 percent from 2019. Last month s average sales price of $269,391 marks an increase of more than 15 percent from November 2019.