Central Ohio home sales in 2004 grew almost 10 percent above the total homes sold in 2003, the largest annual increase since 1998, according to the Columbus Board of Realtors Multiple Listing Service.

Realtors last year reported the sale of 26,660 homes in the Central Ohio area, up 9.7 percent from the 24,306 homes sold during 2003. In 1998, homes sales jumped 17.4 percent over the previous year

“The lion’s share of homes were sold in what we consider to be the affordable housing range – $125,000 and below,” said Doug McCloud, 2005 president of the Columbus Board of Realtors. “Roughly 60 percent of the homes sold in 2004 fell into this price range. Many of these sales were first-time home buyers who were finally able to realize the dream of home ownership.”

Over $4.5 billion worth of homes changed hands last year, a 12 percent increase over 2003. The average sale price of a home in 2004 was $170,522, up approximately 2.2 percent from $166,928 the previous year. Using the average annual increases, the value of a typical home in Central Ohio has increased about 20 percent over the last five years, according to the association.

The Columbus Board of Realtors Multiple Listing Service serves all of Franklin, Delaware, Union, Madison and Morrow counties, and some of Licking, Fairfield, Knox, Logan, Marion and Pickaway counties.

***

What’s your opinion? Send your Letter to the Editor to opinion@inman.com.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×