October 2011 Home Sales Up according to the Columbus Board of REALTORS®,
The Columbus Board of REALTORS announced to members, the media and the public yesterday that home sales were up in October 2011. Quoting the Columbus Board of Realtors:
"Home sales in central Ohio home have exceeded 2010 for the last four months according to the Columbus Board of REALTORS®. The 1,543 homes sold in October marks an 8.6 percent increase over the 1,421 homes sold in October of 2010. Home sales in September were up 16.6 percent compared to the year before."
I usually post market reports for some Central Ohio school districts long before this time of the month. The Columbus Board of Realtors MLS home sales by school disrict for October 2011:
Columbus schools sales up 6.8%
Dublin schools sales down 8.3%
Olentangy schools sales down 14.6%
Westerville schools sales up 15.5%
Worthington schools sales up 40.5%
The sales increase / decrease by school disctrict are according to the Columbus Board of REALTORS for residential sales (single family and condo) compared to October 2010.
I often do market reports by zip codes and other school districts as well, Central Ohio real estate market. I usually do market reports for single family homes only. Columbus Board of Realtors results are for residential properties, condominiums and single family homes. The exception is condos in the Worthington area.
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.
I focus on the Franklin County and Delaware County real estate markets.
EDIT This is closed sales.
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This post provided by Maureen McCabe of Real Living HER
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The question is, does "home sales" include pendings (short sales)??
Maureen ~ An increase in closed home sales compared to last years numbers is great news for your area... Do you feel it is a reflection of lower interest rates and lower home prices? This is what we are seeing in our area.
Lenn Nope closed sales only. When I make market reports with Trendgraphix about the 7th or 8th of the month usually pending sales don't have any relation to what the board publishes about the 20th of the month. I'm never sure if pending sales trickle in and there is some serious reconcillation of data or whether they are looking at all homes in contract (including short sales that will never close, properties that will fall out over appraisal, etc.) rather than what went in contract in the month. The sales (closed numbers) will change a bit but the pending sales are usually way off so I don't say anything about it.
CBR has a quote about how pending sales in the press release it says "Homes put in contract last month (1,379) were up 46 percent from a year ago making October the sixth straight month of increased contracts."
Red line is pending.
The report I see based on the info supplied at the end of October shows pending sales for residential properties in all counties in October 2011 was down 15.6% from October 2010. That's a big swing down 15.6% from October 2010 to up 46%. So I just look at closed sales. I look at pending and scratch my head.
I stay away from posting anything about pending sales.
Frank or Karen Prices are lower. Interest rates are lower. It must be that! Or something else......
It's always interesting to me to track these analytics. I find total volume of sales is an important factor to get an idea of how many buyer's are out there and how many sellers are willing to price with the market. Pricing up and down sometimes is a bit hard to guage the market with as it depends on what segment of the market is selling more, the higher end, lower end or average.
Thanks Morgan I agree... the official word from CBR ("the voice of real estate in Central Ohio" I think that is their TM phrase) is that prices are down. We are an affordable market. Home sales in Columbus City School district (huge area, but one of the disctricts with a lot of more affordable homes. Actually homes in Columbus City Schools has a very diverse price range) are up. Home sales in Dublin schools and Olentangy schools are down, areas with a higher average price... It's up and down.