Columbus Ohio real estate

Central Ohio Homes For Sale- Inventory Levels

Consumers:  Please Visit Discover Columbus for CURRENT Central Ohio Real Estate Market Reports - this is old news but for some reason there are still a lot of people visiting.  Although ActiveRain / Localism has a category for market reports a local ActiveRain member was highly opposed to my sharing this information.

For sale and sold properties through August 2006 Central Ohio

 

 

 

Data Source Columbus Board of REALTORS® This represents all counties in the Columbus Board of REALTORS® Multiple Listing Service.  Graphics source TRENDGRAPHIX.  HER Real Living is the only Central Ohio real estate brokerage with access to TRENDGRAPHIX. 

The good news is there are only 8.1 months supply of homes (single family, condos, fee simple townhouse) on the market in Central Ohio rather than  the 9.2 months of inventory we had at the end of July.  There were 2499 homes sold in August 2006 vs. the 2195 homes sold in July 2006.  That is 2499 homes sold in August this year in comparison to 2850 homes sold in August 2005.  Average sold price is $183,000. 

Average price per square foot on homes sold in August was $105.  

Average days on the market for homes sold was 94 days in August 2006 vs. 96 days in July 2006  vs. 94 days in August 2005.   

The sold to list price differential is 97% as it has been for months.  What does that mean to sellers?  The house has to be priced right to sell.  Saying "tell them to make me an offer" didn't work in a sellers market and it sure is not going to work in a buyers market.

There were more homes sold in Central Ohio in August 2006 than July, a sign that buyers are starting to see that it IS an excellent time to purchase a home in Central Ohio. Interest rates are great, there are more homes to choose from.  It's a buyer's market.  

Compliments of Maureen McCabe - Real Living HER Worthington* - 614-388-8249

Edit Link corrected December 2011

 

 

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This post provided by Maureen McCabe HER Realtors*

Contact Maureen McCabe of HER Realtors* - 614.388.8249

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Information is deemed to be accurate but should be verified to your satisfaction.  Information provided herein is supplied by several sources and is subject to change without notice.  Opinions expressed are solely those of Maureen McCabe.

 


 

Comment balloon 4 commentsMaureen McCabe • September 13 2006 12:43PM

Comments

Hey Maureen,

It's definatly turned into a buyers market...Offering incentives such as closing credits and carryback financing should help motivate buyers to choose your properties over others...

Scott

Posted by Scott Gormley (Oak Valley Mortgage-California Home Loans and Refinancing) almost 13 years ago

Scott,

Thanks for the comment. If you use 6 months supply of houses on the market as a measure of a buyers market (that was something an instructor used in a class recently I have no idea where it came from...  is there a standard? ) we have been in a buyers market for about a year in Central Ohio, if you look at all counties. 

August  2005 - 6.2 months

September 2005 - 5.8 months... the last time Central Ohio as a whole was in a normal market, not a buyers market.

October 2005 - 7.7 months

November 2005 -8.6 months

December 2005 - 8.0 months

January 2006 - 11.8 months

February 2006 - 10.4 months 

March 2006 - 7.5 months

April 2006 - 8.5 months

May 2006 - 7.7 months

June 2006 - 6.9 months

July 2006- 9.2 months

August 2006 - 8.1 months

Hopefully we are headed in the direction of a normal market! It is a great market for buyers.  

Posted by Maureen McCabe, Columbus Ohio Real Estate (HER Realtors) almost 13 years ago

Great graph, Maureen, and I would think that would be something very useful to you on listing appointments....that should get sellers to be very realistic and aggressive in their pricing if they want their house sold sooner rather than later.

I need to put together something like this for my areas.  Each CMA I do has a version of this for the market where that property is, but I've never really done it in a graph before.  That's a great visual to have, and those are great numbers to always have stored in your mind. 

Posted by Ann Cummings, Portsmouth NH Real Estate Preferrable Agent (RE/MAX Shoreline - NH and Maine) almost 13 years ago

thanks Ann... delayed response...

Posted by Maureen McCabe, Columbus Ohio Real Estate (HER Realtors) over 9 years ago

Participate