First quarter home sales down slightly; average sales price increasing
(April 18, 2003) At 4,179, first quarter home sales are 4.3 percent behind last year’s first quarter sales of 4,365 according to the Columbus Board of REALTORS®.
“The first quarter of last year saw sales increases of 11 – 22 percent compared to previous years!” commented Bob Miller, President of the Columbus Board of REALTORS®. “The first quarter of this year saw record low temperatures, over twice the average amount of snow and a record blizzard in February. Many of those buyers who might have viewed homes and written contracts in January and February simply stayed home where it was warm and safe. Therefore, it’s no surprise that closings in February and March were not as robust as last year.”
The average sale price of a home during the first quarter was $159,647, up 4.1% from first quarter of 2002. Homes continue to sell for about 97% of the price advertised. Thirty-five percent of the homes sold during the first quarter sold for $110,000 or below, and 8.5 percent sold for $300,000 or more.
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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