(Oct. 21, 2011) Home sales in central Ohio were up almost 17 percent in September making three consecutive months of home sale increases. According to the Columbus Board of REALTORS®, 1,719 homes sold in September which is 16.6 percent more than the previous year’s 1,474 sales.
In addition to the increase in sales, homes that were put in contract also increased by over 58 percent last month. Year-to-date home sales (January through September 2011) are still trailing 2010 by 3.7 percent.
“As home sales for the last three months have surpassed 2010, the year-to-date sales statistics continue to narrow the gap between this year and last year when the home buyer tax credits were in effect,” says Rick Benjamin, 2011 President of the Columbus Board of REALTORS®. “Although many agents are reporting increased activity, time will tell whether that activity translates into actual home sales.”
The median sale price for home sold during the month of September was $128,000, up from $127,500 in September 2010, but the median sale price is still 3.8 percent behind last year’s average for the months of January through September.
The month’s supply, a measure of inventory that estimates how many months it would take to sell the entire home inventory, fell 17.2 percent to 8.7 percent from 10.5 percent last year.
“A balanced market for central Ohio is around 6½ or 7 months supply,” said Benjamin. “So the decrease is one more positive sign for central Ohio housing.”
Posted: 10/20/2011
Click here to view the September sortable housing market report by area.
Click here to view the entire central Ohio Local Market Update.
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![]() Delivered Groceries to your door....that's the biggest reason The Hills Market will work in Downtown Columbus The Hills Market will open the Hills Market Downtown at 95 North Grant Avenue in the spring of 2012. This is the news I’ve been sitting on for a month waiting for someone to announce. Here is this morning’s breaking news release from the Downtown Residents Association of Columbus…. The Hills Market Downtown will be a 12,000 square foot, full service grocery and will feature local and organic produce. The new downtown location will provide a wide variety of wine and beer, specialty cheeses, a full service delicatessen, a Chef’s Case featuring 24 feet of prepared foods including hot ready-to-go main courses and side dishes, as well as a full service bakery and coffee shop. The store will also have seafood and a butcher shop emphasizing locally-produced all-natural meats and more than 426 linear feet of grocery, pantry and household items.
Dining areas and bars are planned for both inside and outside the store. Off street parking will be available and this new location is within walking distance of several residential properties and businesses. The Hills Market Downtown will also offer catering from Hills Own Catering Shoppe and grocery delivery from www.hillsonthego.com. We are very excited to welcome our “soon-to-be” newest neighbor and downtown amenity…Hills Market Downtown. Stay tuned for more information in the weeks to come. |
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It seems that some Columbus real estate agents were confused on how to specify designations regarding single family homes or condos and whether or not they are attached.
There are lots of abbreviations on the Columbus MLS and some are more obvious than others. Many of these aren’t seen very often out in the public sphere but they are listed on anything sent from an agent to a buyer or seller coming directly from the MLS.
DOM, for example, means Days on Market. Here is the Columbus Board’s explanation of SFD, SFA, COD and COA….
The Residential Property Type field has been updated. The labels for SFD, SFA, COD, COA have been changed to better describe what each item represents.
| Old Label | New Label |
| SFD – Detached Single Family | SFD – Single Family Freestanding |
| SFA – Attached Single Family | SFA – Single Family Shared Wall |
| COD – Condo Detached | COD – Condo Freestanding |
| COA – Condo Attached | COA – Condo Shared Wall |
FREESTANDING means that the property does not have another unit connected to it. That is, there is NO “Shared Wall” between the 2 units. This typically applies to single family stand alone residences (SFD), but can also apply to condos (COD) that do not butt against one another but are, indeed, “freestanding” on their lot.
SHARED WALL indicates that the property does indeed share a wall with another unit. This means the the property is in direct and permanent contact with the “shared wall” of at least 1 other unit directly adjacent to it. This may be the wall of the garage or of the domicile, or both. This is typical of shared wall condo units (COA) but can also apply to single family units that share a wall (SFA).
SINGLE FAMILY is defined as a property that owns the ground on which it sits. Even if the property shares a wall with another, the lot is owned by the homeowner. (Verify on county auditor website.)
CONDO can be defined as a property that does not own the ground on which is sits. The condo association generally owns the entire grounds and the condo sits on that ground (This should be verified on county auditor’s website.)
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This beautiful church at the end of my street could be yours for $450,000. It comes with a 3,500+ sf annex. SO many possibilities, So unique.
If a Columbus area property has been grandfathered due to zoning issues, it may not be a big deal and it may seem good in some cases for the Buyer BUT Fannie/Freddie could certainly have a problem with this sort of situation.
Let’s say, for instance, that you’ve found the perfect property for your needs — maybe 787 East Broad Street, a gorgeous Church dating from 1903 that also happens to have a 3300 sf+ building that goes with it.
This is great, you can run your business out of the building and rehab the church into one of the most beautiful and unique homes in Central Ohio and still be easy walking distance to Broad and High. Wow, what a deal at $450,000. (No, Really, How can you pass this up!?)
Is it impossible to buy a property like this if the current zoning is different from the intended use zoning? No, but in case the property burns down or is partially destroyed, your lender may need proof from the city that they will allow it to be rebuilt as the current non-conforming use or the new non-conforming use. That is the difficult part.
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As part of the Columbus Crossroads project, (i.e.-The I70-71 split fix by the ODOT) several ramp closures are in effect.
The ramp from 5th Avenue to I-71 south is closed until November 2012; the detour is Leonard Avenue.
These next two I use all the time but don’t mind the slightly less convenient alternates. Really, Downtown Columbus is so navigable and easy that these closures aren’t as big a deal as some whine about.
The ramp from I-670 east to Broad Street is closed permanently; the detour is Fourth Street to Goodale Avenue to High to Chestnut to Third to Broad, or I-670 east to Cleveland Avenue.
And the ramp from 71 south to Spring Street is closed until November 2013; the detour is Broad Street.
Need help navigating downtown Columbus Neighborhoods? Call me. 614-940-9100
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