October home sales cool but prices heat up(November 17, 2004) The number of homes sold in Central Ohio last month was almost exactly the same as the number of homes sold in October of 2003. However, the average price increased by 12 percent based on statistics from the Columbus Board of REALTORS® Multiple Listing Service. According to Skip Weiler, President of the Columbus Board of Realtors®, there were 2,073 homes sold in October of 2004 compared to the 2,071 homes sold in October of 2003. ?Compared to the high volume of home sales we?ve seen this year - with increases of two to 36 percent ? having roughly the same number of sales as last year seems somewhat like a cooling in the excitment. However, this is still the highest sales we?ve ever seen in October.? The average sale price of a home in Central Ohio last month was $176,527 ? a 12 percent increase over last year. This is slightly higher than the average sale price for the first ten months of the year which is $170,816.
?The average sale price this year is only about two percent higher than last year ? much lower than the four percent appreciation we usually see in Central Ohio,? comments Weiler. ?But we?ve had a large number of homes in the affordable pricing range put on the market and sold this year which skews the average sales price downward. Last month, we had a few more million dollar homes sell which bumped the average price up a bit.? Year to date, almost $4 billion dollars worth of residential housing has changed hands this year, 11 percent more than in 2003. 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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