End of summer home sales heat up
Central Ohio home sales in August were up almost nine percent over last year putting some real sizzle into the late summer selling season. Over 2,875 homes sold last month, up 8.9 percent from the 2,639 homes sold in August 2004 according to the Columbus Board of REALTORS®.
"Closing activity was fair but not great in June and July, which reflects more on home buying activity in the spring months," says Doug McCloud, President of the Columbus Board of REALTORS®. "But August sales jumped up significantly - a direct reflection of vigorous showing and selling activity in the early summer months."
According to McCloud, there are already over 2,200 homes under contract midway through September suggesting that closings at month's end will again be exceedingly good.
Homes sold for an average of $183,572 in August which is 5.7 percent higher than homes were selling for in August of 2004. The average sale price year to date (January through August) is $179,551.
"As the average price of a home varies significantly from month to month depending on how many homes sold in the higher and lower price ranges, we rely more heavily on the average price year to date," says McCloud. "However, this month the average price is right in line with the average price for the first eight months combined which is 5.6 percent higher than last year.
"Closing activity was fair but not great in June and July, which reflects more on home buying activity in the spring months," says Doug McCloud, President of the Columbus Board of REALTORS®. "But August sales jumped up significantly - a direct reflection of vigorous showing and selling activity in the early summer months."
According to McCloud, there are already over 2,200 homes under contract midway through September suggesting that closings at month's end will again be exceedingly good.
Homes sold for an average of $183,572 in August which is 5.7 percent higher than homes were selling for in August of 2004. The average sale price year to date (January through August) is $179,551.
"As the average price of a home varies significantly from month to month depending on how many homes sold in the higher and lower price ranges, we rely more heavily on the average price year to date," says McCloud. "However, this month the average price is right in line with the average price for the first eight months combined which is 5.6 percent higher than last year.
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