More affordable homes on the market in August(September 21, 2004) Homes on the market last month were more affordable than those available one year ago. The average listing price of $177,498 was 2.5 percent less than the average asking price in August of 2003. Consequently, the average sale price was slightly less (2.2 percent). This was true for July as well according to the Columbus Board of REALTORS®. “This is great news for first time home buyers,” said Skip Weiler, President of the Columbus Board of REALTORS®. “More lower priced homes combined with the low interest rates are allowing many more Central Ohio residents the opportunity to finally purchase a home.” Home sales were up about 2.1 percent last month as 2,639 homes were sold compared to the 2.584 home sold last year in August. Year to date home sales are now 10.6 percent ahead of the same period last year. According to Weiler, the unemployment rate slid a notch to 5.4 percent, the national household employment rose by 650,000 in the past couple months and the prediction is that we’ll see better than 250,000 net monthly job gains over the next three months. This improved employment situation and outlook are likely factors helping to fuel late summer home sales. 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
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