Central Ohio Real Estate Market News

After I wrote yesterday’s article on the housing prices and sales in Delaware County, I thought that I really needed to segment out the data for just Southern Delaware County - the Powell, Lewis Center, Galena portion that is in the Olentangy school district. That’s the area of the county with the phenomenal growth, and pricing for that area is much higher than in the city of Delaware or the northern half of the county.

The average pricing is substantially higher than the county as a whole. The increase from 1997 vs 2008 is 28%. The decline from 2007 to 2008 is a little higher than the county as a whole, at 12.5%.

The chart showing the number of homes sold is more telling of the extreme growth of this area - and why the Olentangy school district has had to build so many schools. Keep in mind that this data only includes homes that were listed in the Columbus Board of Realtors® MLS system. It would include new-build specs that were entered into MLS, but it does NOT include all the new-build homes that buyers contracted directly with the builder. Due to all the new subdivisions that were created during this period, that could add hundreds of homes to this chart. Nevertheless, the data does give a peak at the extreme demand for homes in this area.

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