More affordable homes on the market
(March 17, 2004) For the eleventh month in a row, Central Ohio home sales exceeded sales in the same month the year before. At 1,405 home sales, February sales were 4.2 percent higher than February of 2003. 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® Multiple Listing Service.
“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,” offers Weiler. “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 (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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