GOOD NEWS IN MARKET ACTIVITY

Central Ohio Housing Report - Mar. 2012

Posted: 4/18/2012

Columbus Board of REALTORS®

Central Ohio home sales, contracts and prices up in the first quarter

(Apr. 19, 2012) First quarter home sales in central Ohio were up 7.1 percent versus first quarter 2011 sales (4,045 vs. 3,776). March home sales jumped 36 percent to 1,653 compared to the previous month (1,215) and were up 6.1 percent more than last year (1,558) according to the Columbus Board of REALTORS®.

“This upward trend in home sales began last summer,” said Jim Coridan, President of the Columbus Board of REALTORS®. “Average sale prices are increasing, but at a much more cautious pace.”

Average sales price fell 30.6 percent from its decade high of $192,642 in June 2005 to $133,604 in February 2009. The average sales price of a central Ohio home in March 2012 was $153,557 – 6.5 percent higher than one year ago.

The 3,466 homes listed for sale in March marks a 56.7 percent increase over the previous month, but is still 10.4 percent lower than March of 2011. The median list price of new listings last month was $149,900 – 3.5 percent higher than one year ago.

Housing inventory, which peaked at 19,291 in July 2010, continues its downward trend as the local market seeks to rebalance. Total inventory is now just over 11,500 reminiscent of inventory levels in 2003 and 2004.

Months supply has remained near 6.5 for the first three months of 2012 – a healthy level for central Ohio.

“Sales, contracts and home prices are all up this year,” adds Coridan. “This coupled with the temperate inventory levels makes for a much stronger central Ohio housing market than we had a few years ago.”

According to the most recent Ohio Housing Market Confidence Survey, 86 percent of central Ohio REALTORS® see the current housing market as moderate to strong and 89 percent expect it to be moderate to strong in the next six months. However, local professionals are split as to whether home prices will stay the same or increase over the next year.

The Columbus Board of REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Morrow, Pickaway and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Marion, Muskingum, Perry and Ross Counties.

The monthly housing reports can be found at ColumbusRealtors.com/stats. The reports include breakouts for 18 central Ohio counties and 52 local municipalities and school districts. New areas included in the 2012 reports include: Grove City and local school districts for Big Walnut, Miami Trace, Johnstown-Monroe and Northridge.

Source:
~ Columbus Board of REALTORS ~
4/18/2012

HISTORIC LOW INTEREST RATES!

AVERAGE 15-YEAR MORTGAGE DROPS TO RECORD-LOW 3.11%.......

Mortgage rates remained low during the most-recent week, with the 15-year average loan standing at a record low, Freddie Mac figures showed yesterday.

The national average 30-year fixed-rate mortgage for the week that ended yesterday was 3.88 percent, down from 3.98 percent the week before.

The 15-year loan fell to a record-low 3.11 percent from 3.21 percent.
-From wire reports-

~ The Columbus Dispatch, April 13, 2012 ~  

INTEREST RATES CONTINUE TO BE GREAT!

Average rate dips to 3.98% for 30-year home loans.....

Mortgage rates were little changed this week compared with the previous week, with the popular 30-year home-loan rate remaining below 4 percent for the second consecutive week.

Freddie Mac reported that the national average rate for a 30-year, fixed-rate loan fell to 3.98 percent during the week that ended on Thursday, from 3.99 percent the week before.

The average 15-year, fixed-rate loan fell to 3.21 percent, from 3.23 percent.

- The Columbus Dispatch, April 7, 2012 -

INTEREST RATES DOWN THIS PAST WEEK

- AVERAGE RATE FOR 30-YEAR MORTGAGES DIPS BELOW 4%

Mortgage rates fell below 4 percent for the popular 30-year loan during most of the recent week, according to Freddie Mac.

The national average rate for a 30-year, fixed-rate home loan stood at 3.99 percent for the week that ended yesterday, down from 4.08 percent the week before.

The 15-year, fixed-rate loan averaged 3.23 percent, down from the previous week's average of 3.3 percent.

~ The Columbus Dispatch, March 30, 2012 ~

HOME SALE PRICES STRENGTHEN IN CENTRAL OHIO

Home sale prices strengthen in central Ohio (Mar. 21, 2012) Sale prices for homes sold in central Ohio last month showed a healthy increase over the previous year. The average sale price of $151,072 was 7.3 percent higher than in February of 2011, and 5.7 percent higher than the previous month according to the Columbus Board of REALTORS®. “Buyer activity has been up while seller activity has dipped slightly,” said Jim Coridan, President of the Columbus Board of REALTORS®. “Given the market conditions over the past couple years, sellers have been a bit reluctant to engage. But that could soon change as we head into the stronger spring selling season and the shifting landscape begins to register with well-informed homeowners looking to move.” Central Ohio housing sales were up in February for the second month in a row. The 1,215 sales showed an 8.0 percent increase over the previous month and a 5.0 percent increase over February of 2011. In addition, contracts for residential homes and condos jumped 21.7 percent over the previous month and were 57.4 percent higher than the same time last year. Source: ~Columbus Board of REALTORS~ Posted 3/21/2012

HAPPY ST. PATRICK' S DAY!

The Irish are a poetic race to be sure, with as many blessings (OK, and curses, too!) floating through the air of Ireland as there are shades of green on the ground...

When not using their legendary gift of gab to crack wise or tell a joke, the Irish also have no equal for bestowing words of comfort or encouragement.

Here are excellent examples of blessings that mirror the extraordinary tenderness and generosity of the Irish:

May the roads rise to meet you,
May the wind be at your back,
May the sun shine warm upon your face,
The rain fall soft upon your fields,
And, until we meet again,
May God hold you in the palm of His hand.

May you be poor in misfortunes,
and rich in blessings,
May you know nothing but happiness,
from this day forward,
May good luck be your friend,
In whatever you do,
And may trouble be always,
A stranger to you.

May you always have work for your hands to do,
May your pockets hold always a coin or two,
May the sun shine bright on your windowpane,
May the rainbow be certain to follow each rain,
May the hand of a friend always be near you,
And may God fill your heart with gladness to cheer you.

If you haven't kissed the Blarney Stone and don't have the gift of gab yourself, here are a few collections of quotes, prayers, blessings and curses to add color to your toasts on St. Patrick's Day...

May your blessings outnumber the shamrocks that grow,
And may trouble avoid you wherever you go...

Source:  Chiff.com
Shared by "O'Colo" of Concord, NC, my good Irish friend since 1st grade.  Colo's Mom, "Bobbi" used to sing "Christmas in Killarney" at the top of her lungs, and enjoyed by all!