Everything you always wanted to know about homes that sold in Bexley last year.

With 2008 freshly in the books cementing it’s own special place in real estate history, let’s take a look at some numbers – both overly general and more specific.  Know upfront, however, that none of this mean anything now.
It’s January 2009 and there are 84 homes for sale in Bexley, that have been on the market for an average of 154 days. There are 11 home under contract in Bexley. If you’re looking to buy a home in Bexley, those are the numbers that count. Some of these sold Bexley homes will mean something – but only if they compare favorably to the home you’re buying.

In 2008, 175 Homes Sold in Bexley. (Down about 13% from 2007) They averaged:

•  a sales price of $321,005
•  $133/sf (down about 5.5% from ‘07 when more homes and more expensive homes sold)
•  93 days on the market
•  2153 sf
• and sold for about 96% of the list price.

Because all real estate is local, let’s separate South Bexley (Main Street to Livingston for the uninitiated) from the rest of the market since I find it to be a bit of an entry micro-market.

In 2008,in South Bexley, 68 (44% of all Bexley homes that sold last year) homes sold. They averaged

• a sales price of $181,393
• $119/sf
• 83 days on market
• 1495 sq feet
• and sold for about 95% of the list price

The only thing that jumps out at me there is that the average South Bexley home sold for 95% of the list price. South Bexley homes were, for the most part I think, priced better this year than in previous years. I can almost understand the general Bexley market going for only 95% of list because the higher priced homes, especially the highest priced homes, can often go for tens of thousands of dollars less than the last list price, but in South Bexley, that’d be absurd.

Anyway, sure enough, someone made an error when entering the sales price on a South Roosevelt home. The actual Sales price to List price percentage in South Bexley in 2008 was 96% and on homes selling above $160,000, (small homes or homes needing a lot of work command less) it was 97% – exactly where I tell clients that it falls all across town.

Don’t get me wrong, there are many affordable and adorable homes in North Bexley as well but they exist in close proximity to bigger, more expensive move-up homes and multi million dollar estates. That’s why I’m not separating out North Bexley.However, …

Let’s take a look at Central Bexley.  Here is a run down of the 47 Central Bexley (Stopping at Gould going East) homes that sold in 2008.

• $443,831 average sales price
• $153 per square foot
• 115 days on the market
• 2827 square feet
• and sold for about 95% of the list price

I could have even built this out to include only homes from Drexel to Gould or just the boulevard streets, etc, etc, but where do you stop?
Don’t forget two things about Central Bexley — Preston Avenue and Park Dr are not part of Bexley and only homes on the West side of Gould are in Bexley.