November Home Sales

December 17, 2002

November home sales continue to set records

Once again, home sales in the Columbus area set a record last month. Over 1,567 homes were sold which is a record number for the month of November according to the Columbus Board of Realtors® Multiple Listing Service. This is 1.8 percent increase in home sales over last year in November of 2001.

Year to date, residential home sales number 20,663 which is 6.0 percent ahead of the number of homes sold during the same period last year.

"Traditionally, we expect to see home sales decreasing this time of year," said Lynda Long, President of the Columbus Board of Realtors® . "However, home buyers in the Columbus area are still actively seeking and buying homes. Once again, the lion's share of credit goes to low mortgage interest rates which are helping first timers get into homes and trade-up buyers get more home for their money."

Year to date, the average sale price of $158,467 is almost four percent higher than the average sales price at the end of November last year.

"This is exceptionally good news given the fact that home prices in other parts of the country are not faring as well," adds Long. "Over the last five years, we've averaged a 3.92 percent increase in home prices and it looks as though 2002 will be right in keeping."

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. For additional statistics, click here.

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Press Note: If you would like to interview a Realtor® regarding this story, please contact the following:

President Lynda Long, Coldwell Banker King Thompson (614) 508-5704

President-Elect Bob Miller, RE/MAX Premier Choice (614) 792-1100

Treasurer Skip Weiler, The Robert Weiler Company (614) 221-4286

Secretary Doug McCloud, Aspen Realty Corp., (614) 860-1470