Central Ohio Real Estate Market News

As with most areas, 2008 was a slower market. In 2007, 18 homes were sold via “normal” sales (see below). In 2008, 13 such homes were sold. 

For the following analysis, I DO NOT include the non-arm’s length sales, which are short-sales, HUD sales or sheriff’s auctions, because they are not representative of a normal market price. Thirteen homes were sold as a “normal” sale. Only three others sold as non-normal.

Averages by Pricing Segment during 2008

Sold over $225,000

Four homes in this segment. Average original list price was $245,650. Average sold price was $237,425 (97%). Average sq ft was 2395 sq ft. Average price per sq ft was $99/sq ft.

Sold between $200,000 –  $224,999

Three homes in this segment. Average original list price was $226,567. Average sold price was $215,500 (95%). Average sq ft was 2029 sq ft. Average price per sq ft was $106.

Sold under $200,000

Six homes in this segment. Average original list price was $216,267. Average sold price was $186,217 (86%). Average sq ft was 1871 sq ft. Average price per sq ft was $100.

Averages by Type of Home during 2008

3-BR up

Two homes in this segment. Average original list price was $219,900. Average sold price was $208,900 (95%). Average sq ft was 2100 sq ft. Average price per sq ft was $99/sq ft.

4-BR up

Four homes in this segment. Average original list price was $227,400. Average sold price was $206,975 (91%). Average sq ft was 2203 sq ft. Average price per sq ft was $94.

1st Floor MBR

Seven homes in this segment. Average original list price was $230,071. Average sold price was $209,686 (91%). Average sq ft was 1982 sq ft. Average price per sq ft was $106.

Ranch

 Averages by Size of Home during 2008

1400-1799 sq ft

Two homes in this segment. Average original list price was $226,500. Average sold price was $190,450 (84%). Average sq ft was 1700 sq ft. Average price per sq ft was $117/sq ft.

1800-1999 sq ft

Five homes in this segment. Average original list price was $214,900. Average sold price was $200,080 (93%). Average sq ft was 1900 sq ft. Average price per sq ft was $105.

2000-2399 sq ft

Four homes in this segment. Average original list price was $237,400. Average sold price was $214,850 (91%). Average sq ft was 2246 sq ft. Average price per sq ft was $96.

Over 2400 sq ft

Two homes in this segment. Original list price was $241,400. Average sold price was $236,400 (98%). Average sq ft was 2504 sq ft. Average price per sq ft was $94.

Averages by Lot Type during 2008

Wooded and/or Ravine

Eight homes in this segment. Average original list price was $235,288. Average sold price was $219,288 (93%). Average sq ft was 2100 sq ft. Average price per sq ft was $104/sq ft.

Other Lots

Five homes in this segment. Average original list price was $215,520. Average sold price was $191,840 (89%). Average sq ft was 2018 sq ft. Average price per sq ft was $95.

 

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