Industry News

Eastern U.S. real estate markets post mixed sales

As prices rise, condos attract more buyers

Housing markets east of the Mississippi River showed mixed results in August, as Realtor associations reported cooling home sales in Illinois and Massachusetts and soaring sales in Ohio and Virginia. Ohio's August sales results bested the month's previous record results posted in 2003, with sales this year reaching 14,293, a 2.6 percent increase from the 13,932 sales last year, the Ohio Association of Realtors reported. The month's average sales price of $156,843 mirrors the August 2003 average sales price of $156,898. August home sales continued strong in Virginia, rising approximately 8.6 percent from the same month last year, according to the Virginia Association of Realtors, with 13,912 transactions closed compared to 12,814 a year ago. In August, the median price of a single-family home was $160,718, up 16 percent from August 2003's $138,250. Sales of existing single-family homes in Illinois eased slightly from last year's late-summer level, down 0.9 percent to 13,044 home sales...