October Home Sales

November 15, 2002

October Home Sales Up Again

Home sales were up 11 percent over last year, neck and neck with the 12 percent increase this past September saw. At 1,833 residential homes sold, this is a new record for the month of October, according to the Columbus Board of Realtors® Multiple Listing Service. Year to date, 19,007 homes have been sold putting the Columbus market 5.9 percent ahead of the same period last year.

"Excellent housing affordability conditions have contributed to a record year for home sales, again," said Lynda Long, President of the Columbus Board of Realtors®. "Without question, low interest rates have been the key motivator for buyers. And with the Fed's half point reduction in interest rates last week, we foresee increased home sale activity during the upcoming holiday season."

The average price of a home sold in October was $153,256. Year to date, the average price of a home sold in the greater Columbus area is $158,326 up 3.7 percent from the same period last year.

"Trade-up homebuyers can benefit from the current market," offers Long. "Healthy home appreciation rates will provide a profit on the sale of your current home and low interest rates will provide you with more home than you could have purchased a couple years ago."

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 statistical information, 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