Category Archives: Housing stats

NAR Issues 2011 Profile of Home Buyers & Sellers

Posted on 11/29/2011 | Leave a comment

The 2011 National Association of Realtors® Profile of Home Buyers & Sellers survey results has just been published. My take-away from the stats is that people are returning to a little more conservatism in their purchase habits. That is a good thing given the rather reckless spending that occurred in the early part of the decade that ultimately led to people losing their homes.

  • 78% believe their home is a good investment and 45% believe it’s better than stocks.

First-Time Buyers

  • Median age was 31. Median income was $62,400, up from $59,900 in the 2010 survey.
  • They typically purchased a 1570 sq ft home costing $155,000.
  • Their typical monthly P&I payment was $794.
  • Their median down payment was 5%.

Repeat Buyers

  • Median age was 53. Median income was $96,600, up from $87,000 in the 2010 survey.
  • They typically purchased a 2100 sq ft home costing $219,500.
  • Their typical monthly P&I payment was $1006.
  • Their median down payment was 15%.

All Buyers Collectively

  • 64% are married couples; 18% are single women; 10% are single men; 7% are unmarried couples; and 1% are “other”.
  • Last year survey results were 58% – 20% – 12% – 8% – 1% respectively. NAR suggests that the increase in married couples points to married couples with their dual incomes being better positioned for a mortgage in the tight credit environment.
  • 77% purchased a single-family home; 9% purchased a condo, 8% bought a townhouse; and 6% bought another type of housing.
  • The typical home had 3 bedrooms and 2 baths.
  • 51% of the homes were in a suburb or subdivision. 18% were in an urban area. 18% were in a small town. 11% were in a rural area. 3% were in a resort/recreational area.
  • 89% used a real estate agent to buy. 7% bought direct from the builder.
  • When asked where they first learned about the home they PURCHASED, 40% replied the Internet; 35% from real estate agent; 11% yard sign/open house; 6% friend/neighbor/relative; 5% home builder; 2% print/newspaper ad; 2% direct from seller; and less than 1% from a home book or magazine.

Details about the survey

NAR mailed an 8-page questionnaire in July/August 2011 to  a national sample of 81,099 home buyers & sellers who purchased their homes between July 2010 thru June 2011. From the sample, there were 5,708 usable responses, giving a 7.3% response rate.

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Posted in Advertising, Buyers, Central Ohio, Homes, Housing stats, Internet, Media, Newspaper, Surveys

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Central Ohio YTD Homes Sold By Schools or Suburbs

Posted on 10/16/2011 | Leave a comment

I’ve been busy updating the Jan-Sep YTD Homes Sold data on my website and here on my blog. Check out the results for your favorite area:

If you want to buy or sell a home in one of these areas, give me a call for assistance.

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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

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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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