February home sales strong --despite frigid temperatures
(March 19, 2003) -- February home sales are neck and neck with the previous year. In February of 2002, 1,348 residential homes were sold in the greater Columbus area versus 1,378 homes sold in February of 2001 according to the Columbus Board of REALTORS®.
Bob Miller, President of the Columbus Board of REALTORS® points again to the low interest rates. "At the risk of sounding redundant, we continue to look to the low interest rates as the primary reason so many home seekers sought homes - despite the incredibly frigid temperatures in the last couple months."
At $159,591, the average sale price of a residential home is up 5.4% over February of last year. Homes sold for bout 97% of the price advertised. In addition, the average time it took to sell home decreased from 106 days in January to 104 days in February.
"For home sales, January and February are usually among the slowest months yet our home sales were the second highest on record." Miller said. "I think prospective home buyers can get excited about what's going to happen here when the weather breaks and the traditional home buying season 'heats up'."
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. |
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