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Regional Spotlight: 2011 Ohio Home Sales Off to a Strong Start

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RISMEDIA, March 24, 2011—Home sales for the first two months of the year are just 1.1 percent behind the same period last year, suggesting a strong start for the central Ohio housing market according to the Columbus Board of REALTORS® (CBR).

There were 2,178 homes closed in January and February compared to the 2,202 closings during the first two months of 2010. February home sales dipped slightly to 1,128, just 1.3 percent less than the 1,143 homes sold during the same month one year ago.

“Why are we pleased at the small decrease in sales this year?” asks Rick Benjamin, CBR President. “At this time last year, the first-time home buyer tax credits were significantly impacting our sales volume. To remain at nearly the same level without that incentive is a positive sign of a strengthening market.”

“Additionally, there were 1,812 residential homes put in contract in February which is 18.7 percent more than February of 2010. This also bodes well for March closing activity.”

Franklin County saw 658 homes sell last month and 1,637 more listed for sale, while 137 homes were sold and 302 homes were listed in Delaware County.

The City of Columbus topped the charts with 423 sales and 1,023 new listings. Other cities which saw higher sales and listing activity include Dublin, Hilliard, Westerville, Gahanna and Pickerington.

School districts experiencing higher sales and listing volume in February included Columbus, South-Western, Olentangy, Hilliard, Westerville, and Dublin.

“Although, the actual numbers of sales and listings for these districts were higher, we’re fortunate to have many strong school districts in central Ohio, several of which showed larger activity gains when compared to last year,” adds Benjamin. “Every area is different so it pays to ask a REALTOR® to help you interpret the data.”

For more information visit www.realtor.com.

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