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.

***

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

Show Comments Hide Comments

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
Black Friday starts now! We've got great deals on Inman Connect New York in-person and virtual tickets. Register now×
Cyber Week Sale: Get 1 year of Inman Select for $75.SUBSCRIBE×
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