Central Ohio real estate sales are picking up steam, it is a buyer's market out there!

It is an interesting time to examine Central Ohio real estate, as well as real estate across the United States.  Sales statistics for November are in and show an increase in sales, rising 7.4% in November nationally and hitting the highest sales levels in three years.  The increase in sales is largely due to the Federal Government’s intervention, the implementation of the First Time Home Buyer’s Tax Credit and low interest rates.

November was the original expiration date for the First Time Home Buyer Tax Credit and was likely a major catalyst for November’s increase in real estate sales.  Approximately 50% of November’s sales were first time home buyers.

In New Albany, sales for the period from November 25 through December 16 were up over 25% compared with the same time frame in 2008.  The significant increase in sales is seen as a positive sign for the future.  The extension and expansion of the tax credit into the first half of 2010 is expected to continue boosting Central Ohio real estate sales.

If you are looking to buy or sell a property in New Albany, Gahanna, Blacklick,Westerville, or another Central Ohio community, please contact The Raines Group. We offer professional real estate advice and are happy to help you achieve your real estate goals. Please contact us today via our online contact form or by calling The Raines Group at 614-418-7417.

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