Forbes magazine has said that the Columbus metro area is the third most stable market in the U.S regarding longer-term home prices.
I decided to break down the whole metro area to only consider the Delaware County market. Southern Delaware County is the fastest growth area in Ohio, and with a tremendous amount of homes for sale, one would think that home prices might be falling - especially if you listen to the national media hype.
Here is a chart of the average and median sold prices of homes for the past 13 months. While there are some ups and downs, they can be influenced by a million dollar home selling in a particular month. Overall, there is no downward trend and the prices are relatively consistent.
Now, given all the media hype, are you surprised by this graph? If a buyer told you that they were going to wait for the market to “bottom out”, how would you respond to them?
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Elaine Reese
614-825-8860Real Living HER
2 responses so far ↓
Thesa Chambers | Broker | Sunriver Realty // October 17, 2007 at 12:51 pm
No downward trend is a great thing - this is vital information for buyers in the Delaware County area.
elainereese // October 17, 2007 at 1:05 pm
Thesa, I was somewhat surprised as well that the graph was so ‘flat’. I keep hearing that the PNW is still doing well with sales. Is that true?