Category Archives: Housing stats

Fall Home Sales in the Olentangy School District

Posted on 10/02/2011 | 4 Comments

The last Quarter of 2011 is upon us. What might we expect in the real estate market? I’m seeing a lot of price reductions as home sellers hope to get their home in contract this month. I’ve seen homes priced in the $200′s reduce their price by $20- 30K. The decreases are even heftier for higher priced homes. With interest rates hovering around 4%, if you’re ready to buy, now may be the time to act. Doing so will mean you can be in your new home by the holidays.

I pulled the numbers from the Columbus Board of Realtors® MLS system for seasonal sales for just the Olentangy school district area of southern Delaware County. I suspect other areas might be similar.

This first chart shows the average price of the homes sold Jan-Sep (green bars) vs Oct-Dec (orange bars) since 2006. It really illustrates the severity the downturn in the housing market had on prices. 2010 was propped up somewhat by the Gov’t Tax Credits which may have allowed buyers to afford slightly higher priced homes. Of course, 2011 has been a crazy year, so it appears buyers became a little more conservative with their spending.

Fall 2011 Avg $ for homes sold in Olentangy school district, Delaware County Ohio

Click graph to enlarge

Same type of info but the chart below illustrates the NUMBER of homes sold. The small percentage of homes sold in the 4th Qtr is the reason I’m seeing so many price reductions now as home sellers hope to get their home in-contract during October, knowing there is less chance of that happening during the holiday months of Nov-Dec or the snow months of Jan-Feb.

Fall 2011 for homes sold in Olentangy school district, Delaware County Ohio

Click graph to enlarge

As for the number of homes currently for sale in the Olentangy area, there are 601 homes with an average price of $429,153. (Houston, we have a $100K problem!) Of those homes that are currently in-contract today, there are 135 with an average price of $348,618, which is closer to the average price of the homes sold so far this year. Historically, around 200 homes have been sold in the fall period so it’s likely there will be some disappointed sellers. Perhaps it’s time to sharpen the pencil.

Copyright © 2011. 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.

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Posted in Buyers, Central Ohio, Delaware County, Home buying process, Home prices, Home selling process, Homes, Homes for sale, Housing stats, Lewis Center Ohio, Powell Ohio, Sellers

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Central Ohio Schools’ Performance vs Property Taxes

Posted on 08/29/2011 | Leave a comment

On Wednesday I wrote an article about the recently released Ohio Schools Report Cards. I just updated the Tax Graph that shows the relationship of several school districts as per their property tax rates with an overlay of the recent ratings of the schools. All of the school districts that I normally cover in this blog are doing very well. Most notably, the Delaware school district improved from Effective last year to Excellent With Distinction for this year.

2010 Property Tax Rates for some central Ohio school districts

Click to enlarge, then click again to further enlarge

Each bar within the school district represents a taxing area within the district. Assessments are based on a dollar amount per $100,000 of assessed value from the county auditor (Delaware or Franklin Counties). Of course, property taxes are used for more than just schools, but school funding makes up a large portion of our property taxes.

To see how the school districts compared with last year’s Report Card ratings, read more here.

Call me if you have questions on interpreting the chart.

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Posted in Central Ohio, Delaware Ohio, Dublin Ohio, Franklin County, Galena Ohio, Hilliard Ohio, Homes, Housing stats, Lewis Center Ohio, Powell Ohio, Schools, Worthington Ohio

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Good supply of Powell homes for sale

Posted on 08/18/2011 | Leave a comment

If you’re one of the many people who want to call Powell Ohio home, there is currently an ample supply of homes available for sale in all price ranges except the very low-end. The chart below includes all homes in the Olentangy school district for zip code 43065. It does not include homes that are short-sales, HUD or REO’s but rather homes that appeal to “typical” buyers.

Powell homes for sale today
  # Size Avg Price $/SqFt
Over $1 mill 11 6998 $1,807,172 $258
$500-999 55 5133 $688,888 $134
$400-499 40 3740 $456,736 $122
$300-399 53 3065 $348,176 $114
$200-299 45 2574 $266,866 $104
$100-199 4 1442 $178,125 $69

What this means for you is a strong likelihood that no matter what your criteria is for a home, there’s a good chance you’ll find one that is just perfect for you. Want to live around a golf course? There are three courses in the Powell area: Wedgewood, Kinsale and Scioto Reserve. Want trees or ravines? Yup, got those too. You can select a home that is close to a school. Some of the elementaries are within walking distance of homes. If you like, you can select a neighborhood that is within walking distance of downtown Powell and the community pool. There are homes with smaller lots or lots that are an acre in size.

If you would like my assistance in finding the perfect home, give me a call at 614-825-8860 and I’ll go to work for you.

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Posted in Buyers, Central Ohio, Delaware County, Golf Village, Kinsale, Home prices, Homes, Homes for sale, Housing stats, Powell Ohio, Scioto Reserve, Wedgewood

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Jan-Jun 2011 home sales reports

Posted on 07/30/2011 | Leave a comment

Wondering how home prices are holding up for your area? I just finished updating two data pieces to reflect Jan-Jun 2011 home sales. One chart shows sales by school district; the other shows sales by key subdivision within various suburbs. Click the links below to visit those pages.

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Posted in Buyers, Central Ohio, Delaware County, Delaware Ohio, Dublin Ohio, Franklin County, Galena Ohio, Home prices, Homes, Housing stats, Lewis Center Ohio, Powell Ohio, Sellers, Worthington Ohio

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10-Yrs of Home Sales Show That It’s A Buyer’s Market

Posted on 06/21/2011 | Leave a comment

Yesterday I posted a graph showing the average prices of homes sold the past 10 years. Today I’ve prepared a graph showing the NUMBER OF HOMES SOLD  in that same time period. This chart illustrates why there is so much concern about the real estate market and the need to improve the sales because the real estate industry supports jobs for many related industries.

2002-2011 # Homes Sold Jan May in central Ohio

Click to enlarge, then click again

You’ve probably heard Realtors® say that there are fewer buyers than there were in the early part of the 2000 decade. This chart certainly illustrates that. The bump-up in 2010 was due to the $8000 Gov’t tax credit for 1st time home buyers. Buyers had to be in-contract by the end of April to take advantage of that tax credit. Some of those contracts would have closed in May, thus driving up the sales for the Jan-May period.

Prices and interest rates have been declining in recent years, which should drive up the demand, but that’s not happening. The financial institutions began eliminating 100% financing and established tougher criteria for buyers to meet when seeking mortgages. Buyers had to begin having some down payment money and better credit scores. You can see this effect with the declines after 2007. This financing change impacted 1st time buyers the most and that’s likely why Hilliard and Westerville sales have declined so visibly as both suburbs are popular with 1st time buyers due to the average price of the homes. (See yesterday’s chart)

What should your take-away be from this chart’s info?

  • Buyers: If you have the funds, it REALLY IS a good time to buy.
  • Sellers: Competition is stiff so your home needs to be priced right and in top condition to appeal to the few buyers that are shopping.

View same data for AVERAGE PRICE OF HOMES SOLD

Copyright © 2011. 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.

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Posted in Buyers, Central Ohio, Delaware County, Delaware Ohio, Dublin Ohio, Franklin County, Hilliard Ohio, Home buying process, Homes, Housing stats, Lewis Center Ohio, Powell Ohio, Schools, Worthington Ohio

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Olentangy school district has LOTS of kids

Posted on 03/21/2011 | Leave a comment

The U.S. Census Bureau data is interesting, but not always that surprising. The Dispatch published a map that shows the percentage of kids under age 18 according to the school district area in which they live. The caveat is that the child may or may not attend the schools in the district where they live (perhaps they attend a private school).

Statewide, 23.7% of Ohio residents are younger than 18. In Central Ohio …

Four school districts exceed 30%: Olentangy 32.8%; New Albany 31.9%; Pickerington 31.1%; and Canal Winchester 30.9%.

central ohio school map of students under 18

Click to enlarge, then click again

Young families typically seek to live in a district that meets their needs/wants for their offspring yet is affordable for their home budget. Too many or too few students has implications on the district’s budget. A high ratio of kids, like Olentangy, can put pressure on needing to pass levies to build new schools. A low ratio, like Columbus, can cause lack of support to pass levies if residents don’t have school-age children.

Read other articles I’ve written similar to this subject:

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Posted in Central Ohio, Delaware County, Franklin County, Housing stats, Schools, Surveys

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