Home sales robust in January
(February 18, 2004) Home sales in January began the year at a robust pace as monthly sales totals were 7.3 higher than sales in January of 2003. The 1,232 homes sold sets a record for the month of January according to the Columbus Board of REALTORS® Multiple Listing Service.
“Last year was a remarkable year for real estate,” said Skip Weiler, President of the Columbus Board of REALTORS®. “Despite an economic slowdown, homes sales were at record highs due largely to historically low interest rates. Even now, despite a slight rise the interest rates, consumers continue to invest in Central Ohio housing.”
The average price of a home in January sold for $151,058 which is 5.5 percent lower than the average price one year ago.
“That’s not surprising as the average listing price in January also dropped by 5.9 percent,” comments Weiler. “This simply means that January saw quite a few more homes listed in the lower prices ranges. And this is excellent news for first time homebuyers and those seeking homes in the more affordable price ranges.”
“The average sales price during any single month is not a dependable price indicator upon which to base appreciation levels. The average price for the year in 2003 was five percent higher than the year before. Now that’s a number we can take to the bank!”
The Columbus Board of REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Union, Madison and Morrow Counties and some of Licking, Fairfield, Knox, Logan, Marion and Pickaway Counties. For residential and most of the commercial MLS listings, visit www.Realtor.com providing over 1.7 million homes every day. |
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