Industry News

Central Ohio real estate sales nail record

Average sales price drops to 2-year low

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Central Ohio saw a record 1,579 homes sold in February, up 10 percent from the same month a year ago, according to statistics from the Columbus Board of Realtors. February statistics indicated that the combined sales total for the January-February period is 2,957, which is 9 percent higher than the first two months of 2005, the board reported. "We've experienced a very active market early this year," said Chris Reese, president of the Columbus Board of Realtors. "The fact that we have a high inventory of homes and interest rates are inching up has drawn savvy buyers into the market. But we know from experience, some of the credit also goes to Mother Nature for the mild temperatures we've enjoyed this winter. The average price of a home dropped 5.3 percent in February, from $170,177 a year ago to $161,149 last month. This is the lowest the average sales price has been since February 2004 when the price was $159,581. "But that's because we had more homes sell in the affordab...