May 2003

Home Sales Blooming in Central Ohio

(June 18, 2003)  Existing home sales in Central Ohio set another record last month.  May saw 2,331 existing homes sold, a 4.2 percent jump over the 2,236 homes sold last year in May.  Year to date, REALTORS have sold 8,495 homes which is almost 2 percent ahead of the same period last year according to the Columbus Board of REALTORS®.   

“Our exceptionally wet spring seems to have kept Central Ohioans out of their yards but certainly not out of the home buying process,” laughs Bob Miller, President of the Columbus Board of REALTORS®.  “I can’t say the increase in home buying activity is unexpected.  The Central Ohio market blooms this time every year!”

The average home sale price, at 163,320, was 5.5 percent higher than the average one year ago.  Year to date, the average home sale price in Central Ohio is $161,521 which is 5.7 percent higher than the first five months of last year.

These numbers indicate that almost $1.4 billion dollars worth of homes have been sold so far this year, a 6.8 percent increase over last year’s numbers. 

“Although economist have been reporting that 2003 would be the second best year for home sales (just behind 2002), recent reports indicate a change of heart,”  said Miller.  “Now experts are forecasting that 2003 home sales will top the charts.  And our numbers certainly support that.”

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 Stats                 Past Statistics