Columbus Ohio Area Home Sales - The Mid-Year Mark

How is the Columbus and Central Ohio market REALLY doing?  Here’s a look at the different communities and their home sales from January through the end of June- offically half-way through 2007……

For Homes with a Columbus mailing address:

4401 Homes sold in the first six months, with the average List Price being $132,212.00 and the average Sold Price being $128,064.00 - or 96.8% of the List Price.

Looking at sales in the same period for 2006, 4689 Homes sold in first six months of 2006, with the average List Price being $136,325.00 and the average Sold Price being $132,825.00 or 97.4% of the List Price.

Columbus is a HUGE market- here’s a ‘big picture’ look at the metropolis.  We’re running 3 for 3 in the red… down in number of homes sold, final sold price, and the List to Sale ratio. BUT note: we’re still getting a good List/Sale ratio of 96.8%.  In a future post, we’ll take a look at some of the communities within the Columbus area……….

 

For Homes with a Dublin mailing address:

568 Homes sold in the first six months, with the average List Price being $302,265.00 and the average Sold Price being $292,757.00 - or 96.8% of the List Price.

Looking at sales in the same period for 2006, 554 Homes sold in first six months of 2006, with the average List Price being $330,860.00 and the average Sold Price being $323,706.00 or 97.8% of the List Price.

Hmmm Dublin- up in number of sold homes, but down in the sold price and the List to Sale price….. an indication that the higher priced homes are having a tough time, but the intermediate homes are moving well….

 

For Homes with a Gahanna mailing address:
202 Homes sold in the first six months, with the average List Price being $215,436.00 and the average Sold Price being $204,354.00 - or 94.8% of the List Price.

Looking at sales in the same period for 2006, 227 Homes sold in first six months of 2006, with the average List Price being $189,855.00 and the average Sold Price being $185,682.00 or 97.8% of the List Price.

Whew-hoo, Gahanna… a few less homes sold, and it’s been a bit rougher in the net sale price, BUT…. WAY up in your average sale price…. that’s called Appreciation, folks!! 

 

For Homes with a Pickerington mailing address:

285 Homes sold in the first six months, with the average List Price being $218,708.00 and the average Sold Price being $212,081.00 - or 97% of the List Price.

Looking at sales in the same period for 2006, 328 Homes sold in first six months of 2006, with the average List Price being $208,953.00 and the average Sold Price being $214,424.00 or 97.4% of the List Price.

OOOPS– Sorry, Pickerington– your first comments were WRONG! Thanks to Sean Casey of This Week Pickerington for pointing this out (I goofed and thought the 2006 figures were 2007…) SOOO… you’re a smidge down in homes Sold, your average Sold Price, and your percentage of List to Sale price… BUT as you see in many of the other communities, we’re talking small numbers here. No cause for alarm……

 

For Homes with a Powell mailing address:

374 Homes sold in the first six months, with the average List Price being $329,923.00 and the average Sold Price being $319,389.00 - or 96.8% of the List Price.

Looking at sales in the same period for 2006, 354 Homes sold in first six months of 2006, with the average List Price being $334,018.00 and the average Sold Price being $325,564.00 or 97.5% of the List Price.

Ahem, Powell- more homes sold, but a blip in the average sold price and the List to Sale price ratio….  still, steady, strong movement, and DEFINITELY not a sign of any strong recession….

 

For Homes with a Grove City mailing address:

444 Homes sold in the first six months, with the average List Price being $155,017.00 and the average Sold Price being $149,654.00 - or 96.5% of the List Price.

Looking at sales in the same period for 2006, 474 Homes sold in first six months of 2006, with the average List Price being $151,932.00 and the average Sold Price being $147,665.00 or 97.1% of the List Price.

Goodness, Grove City- it’s a mixed bag. Down a bit in sold homes, up a bit in the sold price, and a sliver lower in the percentage of List to Sale price. Overall, holding your own, and moving along….

 

For Homes with a New Albany mailing address:

195 Homes sold in the first six months, with the average List Price being $385,003.00 and the average Sold Price being $371,018.00 - or 96.3% of the List Price.

Looking at sales in the same period for 2006, 180 Homes sold in first six months of 2006, with the average List Price being $453,978.00 and the average Sold Price being $436,850.00 or 96.2% of the List Price.

Wow, New Albany- more homes sold, but a HUGE decrease in average sales price… which shows that the higher priced homes are really struggling.  Interestingly, the List to Sale ratio is about the same….

 

For Homes with a Reynoldsburg mailing address:

296 Homes sold in the first six months, with the average List Price being $144,116.00 and the average Sold Price being $140,221.00 - or 97.2% of the List Price.

Looking at sales in the same period for 2006, 364 Homes sold in first six months of 2006, with the average List Price being $146,315.00 and the average Sold Price being $143,377.00 or 97.9% of the List Price.

Ouch, Reynoldsburg- you’re down in sold homes and the sold price… you’re feeling the pinch in the home market….

 

For Homes with a Hilliard mailing address:

458 Homes sold in the first six months, with the average List Price being $180,730.00 and the average Sold Price being $175,942.00 - or 97.3% of the List Price.

Looking at sales in the same period for 2006, 521 Homes sold in first six months of 2006, with the average List Price being $183,643.00 and the average Sold Price being $179,676.00 or 97.8% of the List Price.

Hey, Hilliard- a reduction in all three categories… minor losses, but something to rebound from.  Let’s see how you do at the END of the year…. 

 

For Homes with a Westerville mailing address:

628 Homes sold in the first six months, with the average List Price being $235,785.00 and the average Sold Price being $228,156.00 - or 96.7% of the List Price.

Looking at sales in the same period for 2006, 639 Homes sold in first six months of 2006, with the average List Price being $238,497.00 and the average Sold Price being $231,979.00 or 97.2% of the List Price.

It’s a close comparison, Westerville- your List to Sale ratio is a bit better (tighter Seller pricing), and just minor differences on homes sold and the final average Sold Price….

 

For Homes with a Worthington mailing address:

201 Homes sold in the first six months, with the average List Price being $220,753.00 and the average Sold Price being $213,866.00 - or 96.8% of the List Price.

Looking at sales in the same period for 2006, 204 Homes sold in first six months of 2006, with the average List Price being $210,950.00 and the average Sold Price being $206,015.00 or 97.6% of the List Price.

Well, Worthington… about identical in the number of homes sold, higher in the average Sold Price, and a smidge tighter in your List/Sale price ratio… well done!

 

For Homes with a Canal Winchester mailing address:

250 Homes sold in the first six months, with the average List Price being $159,219.00 and the average Sold Price being $154,495.00 - or 97% of the List Price.

Looking at sales in the same period for 2006, 245 Homes sold in first six months of 2006, with the average List Price being $162,505.00 and the average Sold Price being $157,744.00 or 97% of the List Price.

OK, Canal folks- you’re about even in the number of homes sold and your List/Sale ratio, with a slight reduction in your average Sold Price.  It’s about a wash…..

 

SOOO….. WHAT DOES THIS ALL SAY??  A couple of things- first off, the magic figure of 97% of List Price to Sale Price becomes evident.  That’s not bad… and shows that while there are bargains to be made, our properties are not being blown out the door.  So listen up, Buyers… and don’t expect to knock $30,000.00 off a $200,000.00 home because you think 15% is reasonable- it’s just not there to take.

Second, any decreases are mimimal.  We’re working with small numbers here… it goes back to the old Tortoise and Hare story… slow and steady wins the race. The Columbus market keeps moving along- at a slow and steady pace. When you hear about the extreme swings in real estate in the national news, understand that is what’s happening on the East and West coast, but here in good ‘ole central Ohio… it’s a different picture.

 

Want to know more about YOUR neck of the woods?  Contact Sondra and ask what’s happening in your specific area or neighborhood- she’ll be happy to share!