List of homes in Worthington for sale - Happy news for home sellers

Happy news for home sellers, home in Worthington, homes listed for sale,

{[['']]}

Shopping for a home in Worthington? You’ve got 38 from which to choose.

If that seems like a lot, consider this: At a typical sales pace, those 38 homes would be sold in less than two months if no new homes came on the market.

Worthington offers an extreme example of a quirk in central Ohio’s recovering housing market: Precious few homes are for sale.

Sales reports yesterday showed that Columbus-area home sales in January continued the robust pace set in 2012, but the number of homes listed for sale plummeted to the lowest level since 2002.

Fewer than 9,000 homes are for sale in central Ohio, amounting to a 4.7-month supply of homes, well below the six-month supply considered a balanced market.

In some communities, the figure is dramatically lower.

Clintonville, Grandview Heights, Hilliard, Powell, Upper Arlington and Westerville all have less than a three-month supply of homes available.

The shortage is good news for sellers, whose homes are selling more quickly and for more money than in the recent past.

The median sales price of a central Ohio home in January rose from $114,000 a year ago to $120,000. Homes took an average of 83 days to sell, compared with 115 a year earlier.

But for buyers searching for that perfect house, the shortage of homes can be an exercise in frustration. Buyers looking to spend $290,000 to $430,000 for a single-family home in the city of Worthington, for example, will find only three homes available in that price range.

“I’ve got buyers who are saying ‘What’s the deal? Where are the houses?’” said Tim Meacham, an agent with Rolls Realty in Worthington. “The market’s just really strong. The inventory’s down, and there are buyers looking and looking, still waiting for that house to come on the market.”

Don Bush, a Coldwell Banker King Thompson agent in Columbus, said his office represented a man looking to buy near Downtown. After just missing homes that were for sale in Merion Village, the man offered more than the asking price for two homes in German Village and was outbid each time.

“The shortage is causing a frenzy,” Bush said. “You’re competing for fewer homes.”

The story is the same across the nation, where housing inventory fell to a 4.2-month supply in January, the lowest level since April 2005.

The housing market is also getting a boost from the mortgage settlement between state attorneys general and the nation’s largest lenders.

Lenders have distributed $45.8 billion to over 550,000 homeowners through the settlement, according to a statement issued yesterday from the U.S. Department of Housing and Urban Development. Among those benefitting are 7,000 Ohioans, who received $280 million.

Also yesterday, the Mortgage Bankers Association reported that mortgage delinquencies dropped to their lowest levels since 2008, as more home owners keep up with payments.

View More Real Estate Property and Brokers in Florida