This is such great news, it just had to be shared. During November 2009, 1,839 homes were sold in the Columbus, Ohio area, nearly 60% more than in the same month last year and the highest November sales in four years, the Columbus Board of Realtors reported.
Real Living HER and other real estate experts attribute the boom to the federal tax break for first-time buyers who were racing to complete deals before the original Nov. 30, 2009 expiration date. The National Association of Realtors estimated that about 2 million home buyers have taken advantage of the credit and predicts that an additional 2.4 million will use it by the middle of next year. First-time buyers made up about half of all transactions last month. So if you are or were considering to buy, it looks like now would be a good time.
The abundance of new home buyers also accounts for November's average sales price of $145,589 in central Ohio, up slightly from a year ago, but well below the $179,000 peak of 2006, during the height of the housing boom.
Statewide, sales rose 31% compared with those of last November, with Columbus leading the way. Among large markets, Cincinnati and Dayton also posted better-than-average gains.
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