June 2010 - Columbus home prices are down -0.4% from May 2010... the Columbus Dispatch reported in late June that prices were falling. The June 27 article said: "With dropping home prices, record-low mortgage rates and special offers, buyers who missed out on the $8,000 federal tax credit are coming out further ahead." Link below. Of course if Weiker was interviewing buyers who were putting homes in contract in June at phenomenal savings that will show in July or August closings.
This graph shows home prices for the Columbus Board of REALTORS® MLS (multiple listing service) area for the past 15 months. The green line is the average active price. The red line is average sale price. Average sold price in June 2010 was up 7% from May 2010.
- Average active (list ) price was down 9.3% in comparison to June 2009.
- Average sale price in June 2010 was up 5.2% in comparison to June 2009.
Homes that closed (sold) in June 2010 would have gone "in contract" in April or May typically.
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Columbus home prices are down?
More on home prices, price per square foot for the Columbus Board of REALTORS MLS area:
The periwinkle bar graph shows price per square foot for the last 15 months. $90 a year ago (June 2010) $89 a month ago. Pretty stable...
Columbus home prices are down? - Columbus Dispatch "with dropping home prices"
In a June 27 Columbus Dispatch Article 'Sometimes, it pays to delay' Jim Weiker wrote: "With dropping home prices, record-low mortgage rates and special offers, buyers who missed out on the $8,000 federal tax credit are coming out further ahead." Perhaps that will show up in next months market reports. Or in particular neighborhoods, ZIP codes. I know there was an anecdote about home prices dropping in Clintonville in the Columbus Dispatch article.
The Columbus Board of REALTORS MLS (multiple listing) area includes all of Franklin, Delaware, Fayette, Madison, Morrow and Union Counties and parts of Champagne, Clark, Hocking, Licking, Fairfield, Knox, Logan, Marion, Pickaway and Ross Counties.
Stay tuned I might share some market stats for your area in the next few weeks.
Published July 2010 based on data available from the Columbus Board of REALTORS® at the end of June 2010. TrendGraphix reports presented are based on data supplied by the Columbus Board of Realtors. According to Trendgraphix neither CBR nor their MLS (multiple listing service ) guarantee or are in anyway responsible for it's accuracy. "Information deemed reliable but not guaranteed." No guarantee from me either!
If you use the Columbus homes for sale link you will search the online inventory of Central Ohio homes on the Real Living HER site. You will be offered the opportunity to receive listings directly from the Columbus Board of Realtors MLS (multiple listing service) in real time. You can know the true status of those properties you are interested in.
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This post provided by Maureen McCabe of Real Living HER
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Thanks for sharing market information . I like the graph. Have a good summer.
It looks like your market is fairly stable, and that sales price is trending closer to asking price. I think that is fairly good news.
The June 27 Columbus Dispatch article saying home prices were falling had some interesting anecdotes. There are brokerage programs and builder programs that offer buyers opportunities NOW.
Perhaps as I look at different markets I will see areas where prices are falling but it does not look like it is true of our whole MLS.