Columbus, Ohio existing home sales have slowed, but builder products continue to move quickly.

"Weather and the war meant a slow start to the market last year but the market came on strong with the Central Ohio MLS showing the year ending up with a 7.4 percent increase in the number of sales in 2003," says Realtor Dan Gregor. "The 1st quarter of the new year continued that end of year trend showing a substantial 12.2 percent increase in activity over the same period in 2003. The average sale prices however did not show any increase. They remained pretty much stable.

Gregor says, "Building activity has continued to be strong, spurred on by lower interest rates and numerous incentives and concessions by production builders. Buyers and sellers today will find both opportunities and difficulty in the marketplace today depending on the location and price range. Sellers who have owned their property for 5 years or more are the ones most likely to be in a position to take advantage of the current market conditions."

Says Realtor Andrew Show, "The city of Columbus is the state capital. The city has gradually grown into the most populous and exciting metro city in the state of Ohio, while still maintaining its midwestern roots and excellent transportation system.

About the market, Show advises, "Lower-priced homes in the metro Columbus area (under $225,000), if in good condition, are selling quickly, but higher priced home sales are still soft."

"Sales of existing home prices have slowed," says Realtor Greg Harrison, "due to the high demand for new homes with lower interest rates, But don't try to sell that new built home until the builder is out of the subdivison. Existing homes are taking a little longer unless they are priced right. Being out of the market by just 3 percent can add months to the selling time."

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Published: April 22, 2004

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