Regional home sales increased 15.4 percent in August compared to August 2010 as the number of homes put in contract surged more than 50 percent.
The Columbus Board of Realtors real estate trade group reported the sale of 1,946 homes through its multiple listing service that covers members’ listings in nine greater Columbus counties and parts of 11 other counties. That compares to 1,686 single-family homes and condos sold in August 2010.
The association had 3,059 new listings hit the market last month among the 15,192 residential properties for sale.
In addition to the home sales, the real estate board reported another 2,478 homes went into contract last month, a 50.5 percent increase over the August 2010 level of 1,646 homes in contract.
The 2011 president of the Realtors group, Rick Benjamin, said August traditionally is a strong sales month.
“Families with children usually choose the summer months to make a move and strive to close before the start of school,” he said in a news release.
The Realtors group reported double-digit increases in average prices in the Bexley, Upper Arlington, Westerville and Grandview Heights schools districts as well as the German Village neighborhood just south of downtown Columbus.
The average sales price throughout the MLS territory rose just 1 percent to $171,027 in August 2011 vs. the $169,301 average price paid in August 2010. The median price – the price marking the distribution midpoint of all sales – was $135,000 for August 2011 vs. $139,950 in August 2010.
Year to date, the statistics show 13,324 residential properties sold in the Columbus MLS territory in 2011, which represents a 6.6 percent decline from the 14,266 sold during the first eight months of 2010.
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