RESIDENTIAL HOME SALES

The Columbus Board of Realtors® released the monthly and annual home sales report this week. As expected, home sales were lower by 13.5% from the previous year and home sale prices dipped 5%. Home prices were significantly influenced by record high inventory levels, and more homes sold in the lower priced ranges.

"Yes, 2008 was a challenging year, but when you compare a 5 percent average price drop to other parts of the country, not to mention Ohio, it's clear why Columbus is consistently considered a stable market," said Gary Parsons, President of Columbus Board of Realtors

What about 2009? The key to returning balance to supply & demand is by reducing inventory levels which will lead to higher home prices. Historically low interest rates should prompt more buyers to return to the market.

Franklin County Events Calendar

With the new year comes resolutions! One of mine has been to update our Around Town blog more frequently with helpful information. This week, I'd like to introduce a useful site for updates on area events. Check out the Franklin County Events Calendar which can be personalized to receive weekly updates on activities that meet your specific interests.

Do you have a specific question for The "4forU" Team? We are 4 licensed real estate professionals with over 40 years combined experience. Each of us lives in a different part of Columbus and bring a unique set of skills to our business. We have a network of support to assist people relocating to Columbus and resources to assist buyers, sellers & current homeowners. Please feel free to post your questions or comments... and best wishes for 2009!