Industry News

Central Ohio real estate sales cool

Prices maintain moderate growth

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Central Ohio home sales in June were down slightly from a year ago but still ahead for the first half of 2005, the Columbus Board of Realtors Multiple Listing Service reported. The 2,766 residential homes sold in June 2005 represent a 2.2 percent decrease from the 2,827 homes sold in June 2004. However, sales for the first six months of 2005 are still ahead of the same period last year by 0.5 percent. "Although sales are down slightly last month, we need to consider that sales in June of 2004 jumped 18 percent over the previous year," said Doug McCloud, president of the Columbus Board of Realtors. "The jump in sales last year was due to closings resulting from contracts written when interest rates hit their lowest in spring of 2004." The report for home price appreciation, however, is quite favorable, the association reported. The average sales price in June was $192,642, up 5.4 percent from $182,827 reported in June 2004. According to McCloud, the average sale price for the firs...