Short North Real Estate Market Update including Victorian Village, Italian Village and Harrison West

Homes on the market: 159 Greater Short North Homes and Condos for sale today

• $255,953
• $189/sf and
• 279 days on market – see below
• CONDOS ONLY – 114 Listings, $$237,880 1259 sf, $201/sf, 333 DOM*
• HOMES ONLY – 45 Listings, $301,738 – 1901 sf – $159.63 sf – 142 DOM

*The current Active Short North condo market has many unsold, long-time listings From Harrison Park which skews both days on market and average list price. This is the first update since it was announced that Ibiza will be turned into apartments, not condos.

Greater Short North Homes in contract with escape clauses:

(1) A three bedroom three bath 1620 sf condo on Dennison Place is in contract contingent on the sale of a home. It is listed at $270,000.  Because of the contingency, an interested buyer could conceivably swoop in and make an offer that would force the hand of the current buyers in contract with the home sale contingency.

(I’m surprised that there aren’t a few more of these, ala Empty Nesters in Columbus suburbs selling their homes and moving to be closer to the action. Maybe the Spring and the impending end of the $6500 tax credit will bring some more home sale contingencies-though Sellers aren’t generally accepting them unless the Buyer’s homes are in-contract and past the inspection period)

Greater Short North Homes in Contract contingent on financing/inspections as of today: 34

• Averaging 1360 sf
• $268,074
• $207/sf
• 97 days on market
• CONDOS ONLY – 26 w/ avg of $288,528, 1340 sf (!) $226/sf, 109 DOM – Most of these are  in The Jackson
• HOMES ONLY – 8 with an avg of $201,600 – 1424 sf – $131/sf – 81DOM

Greater Short North area Homes in firm contract as of today: 4-all condos

• Averaging 1608 sf
• $303,350
• $181/sf
• 332 days on market 2 of them are in Harrison Park w/ 522 DOM, 1 on Summit, 1 on Brickel

Greater Short North area Homes SOLD in January and February, 2010: 30

• Averaging 1368 sf
• $233,617 avg List but a $225,125 Sale price or 96.32%
• $199/sf (up $34/sf over last quarter)
• 117 days on market – 2 weeks longer than last qtr
• CONDOS ONLY – 9 @$206,108, 1324 sf, $198/sf, 171 DOM
• HOMES ONLY – only 3! @ $302,933- 1931 sf – $183/sf –81 DOM

This 3 story home with 5 bedrooms at 122 W 2nd Ave sold for $356,500 just over a week ago after 3 days on market

The Most expensive home on the market at the moment is (still ) 1029 Neil which boasts 3,800 sq ft, 4 bedrooms, 2.5 baths and is listed at $649,000. It has been active on the market a whopping 675 days.

Two of the least expensive homes in the area at the moment are both two bedrooms – 1071 North 4th came on the market about a week ago, a small cottage-y home in need of lots of love for $45,000 and 252 Detroit which has been on the market a year with 770 sf at $79,900.

Homes and Condos temporarily off the market – 3 all condos

71 East 5th Ave 1 bedroom at $89,000, 11 West 3rd, 1 bed at $249,000, 949 Neil 2 bed, $329,000

Joe Peffer is a Realtor who works in Victorian Village, the Short North, Italian Village, Harrison West and specializes in midtown Columbus Neighborhoods.

Would you like me to break it down by Victorian Village vs Italian Village or just condos? Call or email me anytime with questions or concerns and I will be glad to get back to you.

Buying a Columbus Foreclosure? Fannie Mae and Maytag Team-Up for Free Money and Appliances

Fannie Mae has several current foreclosure listings in Franklin County including this fabulously unique 3 silo home in Dublin with an indoor pool and close to 4,000 sf for $200,000

(Click Here to check out more on this unique round house in Dublin once featured on HGTV’s Extreme Home’s)

Closing Cost Assistance and Appliance Incentive for Fannie Mae Homes

Fannie Mae is offering a 3.5% incentive* for buyers who purchase and close on a Fannie Mae-owned home between January 28 and April 30, 2010. Buyers purchasing properties listed through the Homepath Program that are closed within this period may receive up to 3.5% of the final sales price for:

• Closing costs;
• The purchase of new Whirlpool® appliances by Fannie Mae; or
• A mix of closing costs and appliances, at the buyer’s discretion, up to the maximum 3.5%.

To be eligible for this incentive:

• Offers must be accepted on or after January 28, 2010
• Property sales must close before May 1, 2010
• Buyers must be owner-occupants, investors are excluded

Contact a Fannie Mae listing broker for more information.

*Lenders may impose their own limitations on the use of the 3.5% incentive, so buyers should consult their lenders for guidance.