May Home Sales Statistics Released: Central Ohio Average sales price jumps nearly 13 percent

The Columbus Board of Realtors reported today that average sales price jumps nearly 13 percent Central Ohio’s May average also increases slightly year-to-date

Home sales increased for the fourth straight month as central Ohio's average sales price climbed to its highest amount this year, and increased slightly over May 2008, a sign that competitively-priced homes are keeping our market healthy, the Columbus Board of REALTORS® said today.
The average sales price inched up over May 2008 to $168,576, but jumped 12.9percent compared to April.

Homes on average sold for $231 more than during May 2008, indicating thatcompetition among consumers, particularly first-time buyers using the $8,000 tax credit, is continuing to drive the markets' recovery.

"Sellers who are pricing their homes competitively are reaping the benefits of buyers who are equipped with the tools and incentives to leave the fence like never before," said Gary Parsons, president of the Columbus Board of REALTORS®.

"The spring has been busy in central Ohio, and with only 160 days left to take advantage of the tax credit, we expect the summer to be even busier," Parsons said."Lower-priced homes and foreclosed properties continue to be active in our market, attracting many first-time buyers with unbeatable deals."

Inventory levels continue their dramatic drop compared to last year as the local market remains balanced. There were 14,849 homes for sale in central Ohio last month, down 17.1 percent from a year ago.

New listings were also down 24.6 percent in May compared to last year.

"The basic economic principles of supply and demand influence home prices, sothe factthat prices are increasing, not only month to month, but year over year, is a very positive indication in the strength of our market and the level of demand," Parsons said.

"As those properties are sold and fewer homes are added to the market, central Ohio will continue to remain a fairly balanced housing market."

A total of 1,809 homes sold in May, marking the highest number of homes sold in a single month since September, but still down 12.4 percent compared to May 2008.

There were more than 1,400 homes in contract in May, an indication of future sales and an increase of nearly 5 percent over April.

Here is the link to view the full write up: http://www.columbusrealtors.com/16640.cfm

The real estate market is picking up! We feel it everyday with the number of showings we are going on and calls we are getting from buyers! Now is a perfect time for buyers to get a home before prices start to rise! If you are a first time home buyer and want to take advantage of the $8000 tax credit. You need to be closed on a home before December 1, 2009 so now is the time to start looking! Also if you are still unsure if now is the best time for you to buy a home - don't forget about Real Livings Peace of Mind Insurance plan. All you have to do is use Real Living mortgage (which has great rates!) and if you lose your job during the first year you own your home - your payments (up to $1500) will be made up to 6 months. Just give us a call for more details and additional terms and conditions!

Dana M. Garrett - 937-645-6545 - Dana.Garrett@RealLiving.com
Nanie Ingram – 937-645-6542 – Nanie.Ingram@RealLiving.com

New Listing at 231 Sorenson Dr Marysville Ohio

Sparkling 3 bedroom and 2 ½ bath home with beautiful in ground pool just in time for summer! Walk in the front door and you can immediately see the care and maintenance that the current owners of this home have bestowed on this one owner home. First floor boasts formal dining room, open kitchen with breakfast nook, hardwood floors, laundry room, half bath and family room with huge bump out and full bath that is conveniently located adjacent to the pool! Brand new california shag carpeting throughout the 3 spacious bedrooms upstairs. Fresh paint throughout. Partially finished basement plus plenty of storage. 2 car attached garage. Amazing paradise like back yard with in ground pool, fenced yard, storage shed with electricity and mini basketball court! Close to schools. Great location and easy access to 33! Move right in!

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Dana M. Garrett - 937-645-6545 - Dana.Garrett@RealLiving.com
Nanie Ingram – 937-645-6542 – Nanie.Ingram@RealLiving.com

What's so great about Columbus? Read on....

Money magazine has dubbed Columbus the "Eighth Best City to Live." The U.S. Census Bureau indicates that Columbus has the "Top 10 Shortest Commute Time[s] Among Major Cities in the Country" and Forbes classifies Columbus as the "Eleventh Best City for Singles."

Located within 600 miles of 60 percent of the U.S. population, Columbus has recently emerged as a major Midwestern crossroads, receiving national acclaim for the quality of life it provides its residents.

History
Established at the fork of the Scioto and Olentangy rivers, Columbus was founded in 1812 --nine years after Ohio became a state. By the 1830s, Columbus became a stop on a major water transportation system stretching from the Ohio River to the Erie Canal. Railroads and telegraph lines were put in place during the 1840s and 1850s. During the 1860s, Columbus became the location for a Civil War site -- Camp Chase. A training, parole and prisoner-of-war camp, Camp Chase marked its legacy with a cemetery that's still located on the West Side of Columbus to this day.

By the turn of the 20th century, Columbus's population was growing as much as its reputation. The founding of Ohio State University and Capital University branded Columbus as an educated metropolis, something that still rings true today.

Real Estate
Columbus has undergone incredible growth over the past few decades. In fact, Delaware County (just north of Columbus) is the 13th fastest-growing county in the United States. The National Association of Realtors (NAR) states that Columbus's median house price is 31 percent less than the national average and Conway Data ranks Columbus as among the top 10 lowest-cost real estate markets in the country.

Despite the downswing of national housing markets, Columbus appears to be one of the less affected areas. The PMI Group categorizes Columbus as one of the more stable major housing markets in the United States.

Business
If you haven't heard, 15 Fortune 1000 companies are headquartered in Columbus. Among these internationally recognized corporations are: Bank One, Cardinal Health, Limited Brands, Nationwide, Wendy's and Worthington Industries. Other Columbus-based companies worth noting for their forward-thinking approach to science and engineering are Battelle, Chemical Abstracts Service and Edison Welding Institute. Columbus is also the home of the Online Computer Library Center (OCLC). This internationally operating library system has more than 60,000 client libraries in 112 countries. It complements research-driven institutions such as Ohio State University and other centers of learning in the area. With this much information at our fingertips, it's no surprise Columbus is seen as such an academically well-versed city.

Future
Columbus is rumored to be looking into multimodal transportation systems. James Beasley, director of the Ohio Department of Transportation, is hoping to effectively use railways and waterways for the transport of goods and people. As Columbus continues to grow, it will be important to constantly search for innovative ways to improve the transportation system, making it efficient, inexpensive and environmentally friendly. Plan to see growth in the following years.

For more information on what makes Columbus great, contact your us today.
Dana M. Garrett 937-645-6545 Dana.Garrett@RealLiving.com
Nanie Ingram 937-645-6542 Nanie.Ingram@RealLiving.com

Harley E. Rouda Jr.
CEO of Real Living
One of the nation's fastest-growing real estate companies.

From This Week Community Newspapers