Central Ohio home sales in February were 4.2 percent higher than sales the same month last year, with Realtors recording 1,405 closed transactions, according to the Columbus Board of Realtors Multiple Listing Service.
For the eleventh month in a row, Central Ohio home sales have exceeded sales in the same month the year before. Year-to-date home sales for 2004 are now almost 5 percent higher than sales in the first two months of 2003, according to the Columbus Board of Realtors.
“We are selling more homes than ever before,” said Skip Weiler, president of the Columbus Board of Realtors. “This is due in great part to record-low interest rates. However, we are also seeing local builders providing more affordable housing, as well as creative financing programs. Buyers have more options in new construction than they have ever had before and this is translating into sales.”
Home prices remained steady last month. At just under $160,000, the average sale price showed no change from last year during February. Year to date, the average price is 2.5 percent less than last year.
“The slight drop in sales price is directly proportional to the drop in list price,” Weiler said. “More homes in the lower price ranges have been listed for sale in the last 3-4 months. Therefore, more homes in the lower price ranges have sold in the last couple months. First-time home buyers and those seeking homes in the more affordable price ranges should be elated as they have more choices than they have in the past.”
The Columbus Board of Realtors Multiple Listing Service serves all of Franklin, Delaware, Union, Madison and Morrow counties and some of Licking, Fairfield, Knox, Logan, Marion and Pickaway counties.
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