After slowing in April, Central Ohio home sales made a comeback in May, jumping 14.4 percent from a year ago, the Columbus Board of Realtors reported.
According to statistics, 2,579 residential sales were recorded last month, up from 2,255 homes sold in May 2005. Year to date, Central Ohio has seen 10,245 homes sell in the first five months of 2006, which is 2.8 percent higher than last year.
“At this point, 2006 remains a record year for sales in Central Ohio,” said Chris Reese, president of the Columbus Board of Realtors. “As sales for the nation are predicted to drop 6.8 percent this year, the fact that sales are still topping last year speaks volumes for the attractiveness and dependability of housing in Central Ohio.”
Inventory, however, remains considerably higher than previous years, the board reported. With 17,973 homes for sale at the end of May, there are 27.3 percent more listings than the same time last year.
“The rise in inventory is an advantage for local home buyers,” Reese said. “There are more homes on the market today than ever before, and sellers are coming to the bargaining table motivated to sell their home. If you’ve considered purchasing a home, there has never been a better time to explore your options.”
The surplus of for-sale inventory knocked the average sale price of a home in May to $177,359, which is 2.4 percent lower than the year-ago price of $181,634, the board reported.
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.
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