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Why Columbus?
What is going on in the local Columbus Real Estate market
May 15th, 2006 categories: For Home Buyers, For Home Sellers, Market Updates, Real Estate News
Let’s use Clintonville as example. Considering Clintonville proper and using more or less Glen Echo to Morse Rd and the river to the tracks, there are about 200 homes for sale.
Three are above $500,000—529, 835 and 1.195 mil
22 homes are listed between $309,900 and $459,00
81 listings in the $200s from 204,900 to $299,900
That leaves 93 listings under 200 thousand dollars.
44 properties have gone into contract this month
5 of those had home sale contingencies
while 12 more moved from a contingent status to a firm “under contract” status.
So, Of all the properties that could be on the market, 23.4% of them are in contract.
Of the 29 properties that have a contingent status (upon financing or inspections usually) the average days on market are 50 days and the average price per square foot is $145.42
In May of 2004, during a great time to be selling a home, the average days on market for this same area was 58 and the average price per sq.ft. was $136.03/sqft. Add two years of appreciation at aprox 3.5%/per year and account for the current stiffer market facing sellers and there you have it. The more things change, the more they stay the same.
Is the market tough for sellers, yes. Is it good for buyers, yes. Are sellers having to sacrifice like crazy, not always. Are there homes going into contract quickly, yes–this month some Clintonville ohio homes for sale went in to contract in 4, 6 7, 8, 9 and others under 30 days. You need a good agent to get those too, by the way.
What does it all mean While Clintonville may not be the perfect example market, the point is that despite all the hype of a real estate bubble and the housing market being soooo soft, it’s a good time to be buying or selling a home in columbus, ohio.
