I’ve updated all the YTD 3rd Qtr housing and broker stats if you’re interested in seeing how the real estate market is doing.
Average housing prices by SCHOOL DISTRICT
Average housing prices by SUBURB BY SUBDIVISION
Market share of number of HOMES SOLD BY TOP 5 REAL ESTATE BROKERS
Call me if you have any questions.
Yesterday I posted charts showing the Average Home Prices in Delaware County and Franklin County for the past 5 years. They weren’t particularly positive. Housing statisticians have been looking for small blips of positive news since the Economic Stimulus package was implemented. They are looking at month-to-month changes that indicate housing prices might be rebounding somewhat.
I prepared the following graph for Delaware County which shows the month-to-month average single-family home prices to see if we were seeing some positive news, even though the year-to-year news isn’t great.
I think the best way to describe the 2009 monthly data is that we’re holding our own. The average annual selling price for 2009 for Delaware County is $273K. The month-to-month figures showed a low $253K in March and a high of $283K in June. Between Jan-May, the average prices were in the $250′s-$260′s. Remember, the winter was cold and Spring was slow to warm. Since June, the average prices have been higher in the $270′s-$280′s. The summer months typically are always the high volume months because that’s when families with children like to move. Perhaps, that higher buyer demand increased prices.
Click to enlarge chart
Just in case you’re thinking of asking me what the sales or prices will be like through the rest of the year … hold on while I get out my crystal ball.
Copyright © 2009. Elaine Reese, Real Living HER. Reproduction of any portion of this blog post or the images is prohibited by the Digital Millennium Copyright Act. If this post is being viewed on any site other than www.ReesesPiecesOfRealEstate.com then the material has been stolen without permission. Violators will be reported.
We’re now through the 3rd Qtr, so it’s time to see how home sales compare versus prior years. There’s been much discussion as to whether we are or aren’t in a recession. I think the politicians have one opinion and people in the “real” world have another.
Some statisticians have looked hard for a glimmer of hope with some minor upticks to housing stats this past summer. Some of that was created by the 1st Time Buyer Tax Credit. While it helped to deplete low priced inventories, it’s being said that a lot of those sales were short-sales or bank-owned properties, which do nothing to sell UP to more expensive homes.
As you can see from the charts below, the number of homes sold so far this year is substantially below what was sold in 2005. Some experts say that a number of those people buying in 2005 should not have bought because they were doing 100% financing or they were poor credit risks. Perhaps, we should not expect to return to 2005 levels. It is good that now buyers are being expected to “have some skin in the game” with down payments.
| 2005 | 2006 | 2007 | 2008 | 2009 | |
| # of Homes | 1983 | 1908 | 1797 | 1598 | 1429 |
| % Chg | - | -3.8% | -5.8% | -11.1% | -10.6% |
| Avg Price | $306,352 | $311,652 | $303,299 | $294,747 | $273,098 |
| % Chg | - | +1.2% | -2.7% | -2.8% | -7.3% |
For the Jan-Sep period, 28% fewer homes were sold in Delaware County in 2009 vs 2005. The average price of those homes saw only an 11% decline. Franklin County was similar in that 31% fewer homes were sold in 2009 vs 2005 and the average price was just 13% lower. Considering what some states have encountered, having our prices go down such a small amount over a 5-yr period is really pretty good. The higher decline rates for the number of homes sold, is just indicative of fewer buyers being able to afford a home given the new lending guidelines.
| 2005 | 2006 | 2007 | 2008 | 2009 | |
| # of Homes | 11,549 | 10,726 | 10,015 | 9,157 | 7,932 |
| % Chg | - | -7.1% | -6.6% | -8.6% | -13.3% |
| Avg Price | $176,884 | $173,722 | $167,563 | $158,462 | $154,027 |
| % Chg | - | -1.8% | -3.5% | -5.4% | -2.8% |
SOURCE: Columbus Board of Realtors MLS system. Data is for single-family homes only. Builder’s homes are included only if they were listed in the MLS system. Condos are not included.
Copyright © 2009. Elaine Reese, Real Living HER. Reproduction of any portion of this blog post or the images is prohibited by the Digital Millennium Copyright Act. If this post is being viewed on any site other than www.ReesesPiecesOfRealEstate.com then the material has been stolen without permission. Violators will be reported.
I wish computer repair shops would set their business up like car repair shops. When the WEENR-mobile needs service, I call the dealer to make an appointment. Then I can wait in their lounge while the service is done. If the specific repair will take more than one day, I can arrange to rent a car.
My laptop is as critical to my business as the WEENR-mobile is. But with a computer repair store, I can’t schedule an appointment for the service. Many want you to leave the computer so they can work on it as they have time.
One of the repair companies actually has just one place where the computers are repaired, so one day is wasted as a delivery person makes rounds to the stores to pick up computers then takes them to the repair place. Another day is wasted as they repeat that process taking the computer back to the store after it’s repaired. I’m sure this is an efficient set-up for them by having all the technicians and repair supplies in one place, but it can hardly be said to be “good customer service”.
Computers are such a critical part of our lives – just like our cars – but we don’t have an option to get a rental, like we can with a car. We also can’t schedule to bring our computers in for routine service and know that we can have it in a couple hours. I’ve even heard them say they may have to send it to the manufacturer for repair. Imagine having a car dealer tell us the vehicle has to go back to the manufacturer for repair.
Perhaps it’s because the computer repair folks are first and foremost geeks, and not business people so they may not be as tuned into the importance of customer service.
Can you tell, I just had some computer issues? Perhaps, if I could schedule my laptop for a tune-up like my car, I would have it serviced regularly so that major problems could be avoided. I’d be far more willing to take it in on a regular basis to have all the DOG HAIR swept out of it. Yep, that was a big part of the problem! Thanks, Murph!
Copyright © 2009. Elaine Reese, Real Living HER. Reproduction of any portion of this blog post or the images is prohibited by the Digital Millennium Copyright Act. If this post is being viewed on any site other than www.ReesesPiecesOfRealEstate.com then the material has been stolen without permission. Violators will be reported.
GREAT FINISHED LOWER LEVEL You'll enjoy living in this charming 4BR home with total finished living space of 2855 sq ft. Convenient to Polaris, Powell or Dublin. ONLY$199,900!
Marysville's own folk group from the 60's, The Cannon Brothers, is doing a benefit performance for the Wounded Warriors Project.They'll be performing their original folk music plus their newly recorded "Stand Up America". Only 100 seats are available.
WHEN: Sat. July 7th
WHERE: Timberview Golf Club, 1107 London Av (Rt 38), Marysville
TIME: 2:00pm - Doors open, cash bar
FREE FOOD: 3:00pm - Free finger food while it lasts
PERFORMANCE: 3:30pm - the Cannon Brothers show filmed "live"
Click to RESERVE SEATS:
DONATIONS ACCEPTED FOR THE WOUNDED WARRIORS PROJECT
Click image to read all the articles about my personal saga with the Emerald Ash Borer damage to my tree.
What “extras” will you get when buying a home?
I’ve often referred my readers to Kristal Kraft’s Denver blog because I love the photos she takes of the gorgeous terrain they have there. They say that people are either beach or mountain people. I’m a mountain person no doubt about it. That’s probably because I’ve never had a body suitable for the beach plus I’ve never recovered from the Jaws movie. I traveled to Colorado a few times in my previous career and find the state to be magnificent for its views and wonder.
Anyway, back to Kristal’s blog. She just wrote a great – and fun – post about what “property” actually conveys when buyers purchase a home. With all the extra wildlife they have in the Rocky Mts, buyers often buy more than just the property. You must read her recent post. Wait till you see the awesome photo at the end of the post.
While we don’t have some of the wildlife that Denver has, we do have sellers who may feed birds who wonder what the birds will do if the new buyers choose to not feed them. The birds come to rely on filled feeders, especially during the winter. If the new buyer doesn’t continue that feeding, the birds must find another food source. If that means moving into another flock’s territory, they may not fare so well. If you will be buying such a home, perhaps you can do what the buyer in Kristal’s post is doing by weaning them off the reliance of the food source. OR maybe you can just continue to feed the birds and be ready to enjoy their antics or their babies next spring.
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Posted in Buyers, Commentary, Home buying process, Homes, Homes for sale