I’ve prepared a 10-Year chart for several school districts that shows the yearly change to the average price of the homes sold between Jan-Jun each year. This provides a good visual that illustrates how even though prices are improving, they haven’t yet caught up to earlier levels.
When sellers meet with a Realtor® to discuss pricing their home, often the agent will tell them that they can’t sell for a price higher than the price they paid for the home IF the home was purchased 5-6 years ago. This is especially true for people who purchased new builds in the 2003-2007 timeframe. Due to the subprime mortgage meltdown, prices began falling and especially deteriorated in 2009 when so many people lost their job. For 2010, we’re seeing prices once again rise – which is good news for the economy – but they haven’t risen to the 2005-2006 levels.
I should be noted that these average prices merely indicate what the price was that buyers were paying for homes in that school district. It doesn’t necessarily mean the seller had to reduce their price by the same percentage, however, they may have had to price their home more competitively in order to appeal to a buyer. Another caveat is for districts with fewer sales, where the sale of one high or low priced home can make the data more volatile. (Big Walnut is an example)
Click to enlarge graph, then click again
NOTE: I’ve divided the Olentangy district to west of Rt 23 (PO) and east of Rt 23 (LC) because it is such a large district and there is such a difference to the average prices.
Copyright © 2010. 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.
Posted in Central Ohio, Delaware County, Delaware Ohio, Dublin Ohio, Franklin County, Galena Ohio, Hilliard Ohio, Home prices, Homes, Housing stats, Lewis Center Ohio, Powell Ohio, Worthington Ohio
Tagged central ohio real estate market news, Ten years of avg home prices in central ohio
Planning to buy or sell a home and not sure what agent to select? I just updated the charts that show the Top 5 Real Estate brokers by some school districts. Naturally Real Living HER has the leading market share around the Columbus metro area, selling more homes to or for our clients by a wide margin in most school districts.
How do Real Living agents do it? They have the support and tools of a broker that has been recognized nationally as one of the most innovative in the nation. So, check out the results for your area, then give your favorite Real Living agent a call. Hopefully, you’ll call me. 
Posted in Buyers, Central Ohio, Delaware County, Delaware Ohio, Dublin Ohio, Franklin County, Galena Ohio, Hilliard Ohio, Homes, Housing stats, Lewis Center Ohio, Powell Ohio, Real Living HER, Realtors®, Realtor® selection, Sellers, Worthington Ohio
Tagged central ohio real estate market news, Columbus OH metro area, Real Living HER, Top 5 real estate brokers
The first half of the year is now behind us. The Gov’t Tax Credit stimulus is kaput. We survived February’s wrath of 24″+ inches of snow. Low interest rates were maintained. Central Ohio real estate agents were busy selling houses. So how does the first half of the year look? Pretty good … pretty good!
Click to enlarge graph
This graph shows a comparison of the average price of single-family homes sold during Jan-Jun 2010 vs 2009. I use data by school district since that is the easiest way to track sales here in central Ohio. Notice that most areas realized increased prices over last year.
- The largest year-over-year increases were seen in Buckeye Valley (up 16%), Gahanna (up 14%) and Big Walnut (up 13%).
- Healthy increases were achieved by Worthington (up 8%), the Powell portion of Olentangy (up 5%) and Westerville (up 5%).
- Districts that were essentially flat were Marysville (up 3%), the Lewis Center portion of Olentangy (up 2%), Delaware (up 2%), Upper Arlington (up 0.6%), Dublin (up 0.2%)
- Only two districts experienced a decrease: New Albany (down 2%) and Hilliard (down 3%).
SOURCE: Columbus Board of Realtors, MLS System. Jan-Jun average prices for single family homes that were entered into the MLS system.
Copyright © 2010. 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.
Posted in Buyers, Central Ohio, Delaware County, Delaware Ohio, Dublin Ohio, Franklin County, Galena Ohio, Hilliard Ohio, Home prices, Homes, Housing stats, Lewis Center Ohio, Powell Ohio, Worthington Ohio
Tagged average home prices, central ohio real estate market news
WOW! Most agents were pretty busy in April as buyers hustled to take advantage of the gov’t Tax Credits that would expire the end of April. Lots of homes closed plus many more went into contract. Here’s the results for Jan-Apr 2010 as compared to 2009 for the number of homes sold in some of the school districts around metro Columbus.
- Worthington SD home sales were up 35% vs 2009.
- Hilliard SD home sales were up 32% vs 2009.
- Buckeye Valley SD home sales were up 27% vs 2009.
- Olentangy SD home sales were up 23% vs 2009.
- Delaware SD home sales were up 9% vs 2009.
- Dublin SD home sales were up 2% vs 2009.
- Big Walnut SD home sales were down 9% vs 2009.
The white bars in the graph show the number of homes that are in-contract as of May 4, when I pulled this data from the MLS system. So the sales should remain strong for May as more homes go into contract during May.
Click to enlarge graph
The housing sales shown above only include single family homes that were in the CBR MLS system. It does not include condos or new builds, unless those new builds were entered into the MLS system.
Copyright © 2010. 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.
Posted in Central Ohio, Delaware County, Delaware Ohio, Dublin Ohio, Franklin County, Galena Ohio, Hilliard Ohio, Homes, Housing stats, Lewis Center Ohio, Powell Ohio, Worthington Ohio
Tagged Big Walnut school district, Buckeye Valley school district, Delaware school district, Dublin school district, Hilliard school district, Olentangy school district, suburban school districts around Columbus Ohio, Worthington school district
The number of homes sold in key school districts north and west of the Columbus metro area, are similar to 2009 but stronger for some districts than others. Homes that were in-contract at the end of March, are still very strong for the Hilliard, Olentangy and Dublin school districts.
Click to enlarge graph
Pending sales for the rest of the districts are below March sales units, but that may change as we go through April with buyers trying to beat the April 30 Tax Credit deadline.
Actual Jan-Mar homes sold for 2010 are higher than 2009 for Olentangy, Worthington and Buckeye Valley. Those districts with Jan-Mar home sales less than 2009 are: Hilliard, Dublin and Big Walnut. Delaware sold the same number of homes in both years. I should note though that the year-to-year differences are slight, being up or down by only a few homes.
This tends to be better news than last year when there were more noticeable declines. Agents are still reporting being very busy, plus, higher priced homes are being sold this year which is quite an improvement over 2009. No doubt the low interest rates and competitive prices are encouraging home buyers to act.
Copyright © 2010. 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.
Posted in Central Ohio, Delaware County, Delaware Ohio, Dublin Ohio, Franklin County, Galena Ohio, Hilliard Ohio, Homes, Homes for sale, Housing stats, Lewis Center Ohio, Powell Ohio, Worthington Ohio
Tagged central ohio real estate market news
By now, you may have heard that here in central Ohio we just broke the 100-year old record for snow fall with just under 30″ for the month of February. Those of us with single-family homes have been shoveling … and shoveling … and shoveling some more.
The people who live in condos don’t have to shovel snow unless they decide to perhaps do their sidewalks. The Condo Association has agreements with landscapers to plow the streets and sometimes the drives which allows the residents to enter via their garage, rather than needing to use the sidewalk to the front door.
In southern Delaware County, there are beau coup condo complexes with a wide variety of styles, sizes, prices, floor plans, and extra amenities such as fitness equipment and pools near the clubhouse. Most are located around the Powell and Lewis Center areas. Condos are also popular around Dublin and Hilliard, which is in Franklin County. Prices can range from the $90,000′s up to over $400,000 for large, luxury condos. You’ll find some of those around Powell and Dublin.
Choosing to live in a condo is usually a lifestyle decision. The people may choose this carefree lifestyle if they are busy with activities and don’t want to devote weekends to maintaining a single-family home and mowing grass. People who travel frequently for their employment may prefer the comfort of knowing their home is a little more cared for while they are away on business. Retirees may like the freedom to spend summers here, then spend winters in warmer climes.
If you’re in the market for a lifestyle change and a condo, I have a listing that is located in the southeast Delaware County area, so it is convenient to shopping and restaurants while still being near an upscale residential area. It also has a very competitive price. Read More.
Copyright © 2010. 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.
Posted in Ballantrae, Central Ohio, Condos, patio homes, Delaware County, Dublin Ohio, Franklin County, Golf Village, Kinsale, Golf course communities, Hilliard Ohio, Homes, Homes for sale, Lewis Center Ohio, Muirfield, Powell Ohio, Scioto Reserve, Wedgewood
Tagged central ohio real estate market, luxury condos
