Today, we’re playing with both numbers and the local Board of Realtors’ new statistics. It’s a game that could turn dangerous if you don’t read between the lines or follow the stats in your favorite neighborhood closely. For example, while you could certainly find a deal out there, don’t think you can expect to get your next home for 88% of the list price as suggested below.
Just today I had a couple who’d made an extremely strong offer on a foreclosure find out that they lost out in a highest and best situation that mingled at least five offers. The listing agent hinted the winning offer was at least 175% of the list price. A similar home across the street had a similar situation transpire just two weeks ago. So, come on in, the markets great.
You may be surprised (I was) to hear that of the 18 counties that make up the Central Ohio MLS, Franklin County had only the Eighth Highest Median Sales Price. Delaware was first at $227,794…more than $110,000 over Franklin County but of course Franklin County had more sales, lots more sales—609 compared to Delaware’s 118.
Franklin-County-January <– Click here for all the pretty graphs.
I’m looking forward to 2011 and I think it will be a breakout year for Delicious Real Estate as I begin the process of recruiting smart, savvy agents, consider several partnerships and promotions, toy with the idea of going to a completely virtual model and really get out into the Columbus community to bring readers some fantastic content — all while giving Columbus home Buyers and Sellers the best service in the industry and saving them time and money.
Speaking of content, here are the top ten read posts from 2011….
10. When is it OK to over-improve your Columbus Home?
9. Columbus Residents: Speak up now or be drowned out by Speedway Noise
8. How to turn your $8,000 home buyer tax credit to $9,000 or more
7. German Village and Brewery District Real Estate Market update (Oct)
6. Can you use Alimony or Child Support to help you buy a home?
5. Clintonville Real Estate Market Update (Sept)
4. Short North Real Estate Market Update (December)
3. The I-70/71 split will stress neighborhoods but eventually be good for Columbus Neighborhoods
2. What happened to Olde Towne East’s Bryden Road?
1. How to dispute your Franklin County Taxes
Homes on the market: There are 18 homes currently on the market in BERWICK, they average:
Berwick Homes in contract with escape clauses contingent on the sale of another home: None
Berwick Homes in Contract contingent on financing/inspections as of today: 7
Greater Berwick area Homes SOLD thus far in 2010: 27
All in all, not a bad real estate market in Berwick for 2010. There looks to be just over a six month supply of homes on the market. Berwick remains in good standing with Columbus area home buyers because of the affordability, good size homes, proximity to both downtown Columbus and Bexley and because it feels like a very nice, close knit, well taken care of neighborhood with attractive and unique homes and mature trees. Add to that mix an excellent Columbus alternative elementary school which now goes through 8th grade and you’ve got yourself one hot community.
Known for generous lots and sprawling mid century modern ranches that original owners are still turning over, it’s no surprise that of the 18 homes active on the market, 10 are ranches–5 of the 7 Berwick homes in Contract are ranches and more than half of the homes sold in Berwick were ranches. Berwick also boast a goodly number of cape cods and, outside of counting the often large basements, few homes in Berwick surpass 2500 sf.
Of course there are always a few exceptions — like 1362 Haddon Rd and its 6056 remodeled square feet that sold for $520,000 a few weeks ago.
Would you like me to break it down by North and South of Scottwood, East and West of Roosevelt? email me and I will be glad to help any way I can.
You May also enjoy this The Ranch Home
From our friends at the Columbus Board of REALTORS®…..
(November 23, 2010) The housing market in central Ohio, which rebounded nicely when the federal tax credits were offered in 2009 and early 2010, today is looking like “more of the same.”
According to the Columbus Board of REALTORS® (CBR), the number of homes sold and the average price of homes sold from January though October 2010 are nearly identical to the statistics from 2009.
The number of homes sold from January through October was 16,891 – almost identical to the 16,932 homes sold in the same period of 2009. Average sale price so far this year is $160,671 compared to $161,623 last year.
“While we certainly would like to see a more lively housing market, we’re just pleased that year-to-date numbers are holding their own,” says CBR President Sue Lusk-Gleich.
Home sales are likely to grow in 2011, but not too quickly. According to the New York Federal Reserve Bank, household finances are improving, and major purchases will increase as well.
Freddie Mac reports that the average 30-year fixed mortgage rate in October 2010 was 4.23 percent – the lowest rate since the statistics were first recorded by Freddie Mac in 1971. Ten years ago, the rate was Read the rest of this entry »
As a follow up to yesterday’s post, reader email and editorial remarks, let me reiterate my favorite Columbus Real Estate mantra: All Real Estate is local. When I say local, I mean you don’t even care what the Gahanna Real Estate market is doing if you’re looking to buy or sell a home in Upper Arlington. Why be concerned with the Clintonville market if you’re only wanting to buy a home in Berwick or Grandview?
Cleveland and Cincinnati, Dayton and Toledo and Youngstown, what do they have in common with Columbus aside from sharing this great state and, let’s face it, people from those cities are moving here but not vice-versa. Here is Doug McCloud, President of the Ohio Association of Realtors, talking about the *mythical* Ohio Real Estate Market.
While home sales in Ohio continued to lag in September–as the sector struggles to fully recover from the impact of the economic downturn and expiration of the home buyer tax credit–overall activity during the first nine months has the market positioned to mirror results from a year ago, according to statistics provided to the Ohio Association of REALTORS by the state’s Multiple Listing Services.
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