April 2004 Home Sales

Central Ohio saw 15% increase in April home sales!

(May 21, 2004)  April home sales this year saw a 15 percent increase over last year.  Over 2,286 homes were sold compared to the 1,988 homes sold in April of 2003.  Year to date, home sales are 16.3 percent ahead the same period last year according to the Columbus Board of REALTORS® Multiple Listing Service.

“The slight rise in mortgage interest rates has spurred some home buyers into making a move,” said Skip Weiler, President of the Columbus Board of REALTORS®.
“But even with the increase, mortgage interest rates are far better than what we’ve seen in past years.”

In reviewing the statistics, homes in the very low and very high ranges showed the largest increase in sheer numbers of sales.  There was a 38 percent increase in the number of homes sold for under $50,000 and a 40 percent increase in the number of sales in the $250,000 to $750,000 price range.  But the highest increase was in the $750,000 to $1 million range. In April, there were 13 homes sold in this price range versus the five sold last April in this range.

“It’s no secret that home sales in the luxury market have been soft for some time,” commented Weiler.  “We’ve averaged seven sales per month in the $750,000 to $1 million price range.  So to sell 13 in one month is rather unusual and, we hope, an indication that the luxury market is coming back to life.”

The average home sale price in April was $170,986 – a 5.1 percent spike over the sales price in April 2003 which was $162,653.  Year to date, Central Ohio homes have sold for an average of $162,975.

According to Weiler, the average price coupled with the high number of sales means that almost $1.2 billion in residential homes have transferred owners this year which is 18 percent more than had transferred last year during the same period.

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.

Year End Home Sales                 
Past Statistics