REALTOR Magazine explains the 3.8% Tax

Clients, Friends, and fellow Realtors have asked me aboutt he 3.8% tax and how it affects real estate. Here's a link to an article from REALTOR Magazine that explains it.

REALTOR Magazine Explains 3.8% Tax

Home Sales Are Up 15.3% Over Last Year

This Heath home sold in October.

       Licking County home sales were up in October and are up 15.3 percent over last year.

     The 156 homes sold in October marks a 32.2 percent increase over the 118 homes sold in October 2011. Year to date, 1,412 homes sold in Licking County from Jan. to Oct., up 15.3 percent over the 1,225 homes sold over the same period last year.

     Licking County homes put in contract in October (186) were up 36.8 percent over a year ago.

     The average sale price for Licking County’s single family homes and condominiums year to date is $146,962, up 6.4 percent from homes sold January through October 2011.

     The average days on market for a house until sale is 97 days, up from 96 days one year ago. The inventory of homes for sale in Licking County is down 23.9 percent from last year with 981 homes for sale through the end of October. The months supply of inventory is down 32.6 percent from last year at 7.4 months supply.

     All statistics are provided by the Columbus Board of REALTORS.

Licking County Home Prices Continue to Climb

This condo at 88 Stonington Circle Sold for $117,500 in Oct.

In Licking County, the average home sales sold price was $148,048 from Jan. - Sept. this year, up 7 percent from the same period last year. Also, 1,252 homes sold in Licking County from Jan. - Sept. this year, which is 13.1 percent more than the same period last year. Licking County homes which went into contract for sale from Jan. - Sept. totaled 1,442, which is a 24.4 percent increase from the same period last year, when 1,159 homes went into contract.

In Licking County, the average home sales sold price was $154,823 in Sept., up 25.8 percent from Sept. 2011. Also, 147 homes sold in Licking County in Sept., which is five sold homes more than Sept. 2011. Licking County homes which went into contract for sale in Sept. totaled 185, which is a 39.1 percent increase from Sept. 2011, when 133 homes went into contract.

The number of houses for sale in Licking County now stands at just over 1,018, which is 26.9 percent less than one year ago when 1,392 homes were for sale. Months of existing home inventory has decreased due to improved sales activity this year. At the current sales pace, there are 7.2 months of existing home supply on the market compared to 11.6 months supply this time last year, a 37.9% decrease.

In Licking County, the average days on market until sale was 99 days, from Jan. - Sept. this year, up three days from the same period last year.

All statistics are provided by the Columbus Board of REALTORS®.

Kyle Hall Earns Top Agent Honors

Kyle Hall

CENTURY 21 Frank Frye Real Estate has named REALTOR® Kyle Hall as its top Sales Associate of the Month for October. REALTOR® Ric Lahmers was named Second Sales Associate, and REALTOR® Mitch Fellows was named Third Sales Associate.

The awards are based on monthly sales volume.

CENTURY 21 Frank Frye Real Estate is a full service real estate company serving all of Licking County, and has been located in historic downtown Newark since 1977.