Courtesy of Columbus Board of REALTORS MLS
Columbus and Central Ohio Multiple Listing Service has released the November 2008 sales numbers and they look — well — depleted.
The transaction count dropped by 26% from the previous November and average sales price was off by 16%. Why?
Well there are a lot of reasons – or excuses – depending on your view.
- Perfect Storm. One of the most eerie things about storms is that the day after it is usually one of the most beautiful days. There is this peaceful “lull” that makes the devastation almost seem surreal.
- Election. Many of the buyers and sellers of real estate were more focused on something else over the past two months — that little thing call the election.
Regardless, November was a tough one for those in the central Ohio real estate market.
I, personally, don’t expect December to be much better than November. Why? Well, are you thinking about real estate today? Or are you thinking about the coming Holidays? Exactly.
However, with the interest rates hitting 50-year lows, I’m seeing an upturn in the amount of buyers in the market that will impact the first-quarter 2009.
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