August Home Sales up 21 percent!
(September 18, 2003) Sales of residential homes in Central Ohio rose for the eighth consecutive month in August to an all time record high. At 2,584 sales, August home sales eclipsed last year’s sales by 21.3 percent. Year to date, there have been 16,505 homes sold which is 8.5 percent ahead of the same period last year according to the Columbus Board of REALTORS®.
“Although we expected higher sales, a 21 percent increase came as a shock -- and we’re still catching our breath,” said Bob Miller, President of the Columbus Board of REALTORS®. “Without question, the slight increase in interest rates helped to push buyers off the fence and into an incredibly attractive housing market.”
The average home sale price last month was $177,638 which is 5.6 percent higher than in August of 2002. At $169,262, the year to date average home price is 4.7 percent higher than the average home price for the same period last year. All tolled, over $2.7 billion dollars worth of homes were sold in the first eight months of the year, which is 13.6 percent higher than last year.
“The message is out…owning a home in Central Ohio is an excellent investment“, says Miller. “And even with the slight increase in interest rates, rates are still low enabling buyers to afford much more home than they could in past years.”
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
|
Calendar