The Top Twenty Columbus area Real Estate Transactions of 2010

At $5,184,000, this New Albany Home blew away the record for a Franklin County residential re-sale.

2010 saw an eye-popping 43 residential real estate transactions above $1 Million in greater Central Ohio.

The largest real estate transactions of 2010 belongs to 1 New Albany Farms Road in New Albany’s Farms division.  Originally listed at $8,950,000 and on the market for a whopping 2111 days, this 17,771 square foot Georgian home with a 6 car garage, 8 fireplaces and a guest home sold for a Franklin County record $5,184,000 on September 1, 2010.

Judging strictly from the measly 8 pictures that were on the Columbus MLS, this home is a stunner. It’s also out the league of my buyers in 2010 or 2009 or 2008 so I didn’t see it but I have no doubt it delivers that WOW factor.

Next up is a 5 acre estate on Hoover Reservoir with 2 homes on the property. Originally listed for all of 2009 beginning at $4,700,000 in December 2008, 4310 Sunbury Road in Galena sold for $3,950,000 in March of this year. The main home has 12,500 square feet and the setting really couldn’t be beat.

Back to Columbus and a more regular City Setting, 246 East Sycamore made an appearance on the top twenty. At 4,400 square feet in a prime location, this former storefront went for $1,495,000 in February.

Another midtown entrant in the top 20 real estate deals of the year 2010 is a 15th floor combined 2 unit condo at North Bank Tower. With 4663 square feet a view to die for and a whopping $497/year tax abated (through 2018) bill, this 3 bedroom home with a (max) $1,657/month condo fee sold for $1,350 in August.

If you’re curious about the rest of the 2010 top twenty real estate deals in Central Ohio, look below for a quick tour.

2010’s most read Columbus Real Estate related posts

Happy New Year Columbus!

Berwick Neighborhood Real Estate Right Now — For Sale and Sold in one of Columbus’ best communities, Berwick

This update references the entire Berwick Neighborhood from I-70 to Livingston Avenue and James Road to Alum Creek Drive.

This 3bed, 2bath 1902 sf Berwick Ranch on Floribunda sold in 48 days for $179,900

Homes on the market: There are 18 homes currently on the market in BERWICK, they average:

• $149,560
• $82.16/sf and
• 154 days on market.
• The most Expensive listed right now in Berwick is 1429 Haddon 4 bed, 3 bath, 2525 sf which, at $314,900, is almost $100K more than the next expensive home, 2576 Brookwood at $219,900.

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

• Averaging 2187 sf
• $173,786
• $80.51/sf
• 53 days on market
• None of these Berwick homes have been on the market more than 4 months and 2569 Berwick Blvd went into contract after only 8 days on the market.

Greater Berwick area Homes SOLD thus far in 2010: 27

• Averaging 1915 sf
• $146,493 avg List but a $138,215  Sale price or 94.5%
• $71.53/sf
• only 68 days on market

Welcome to Berwick

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

or What’s an Extra $20,000 get you in Columbus

The Goldilocks Quotient – How big of a Columbus home is ‘Just Right’ for you?

How small is the smallest home you could live in daily and still be comfortable? Is bigger always better? Is left over money at the end of the month a big enough incentive to simplify your housing needs? I like the idea of these tiny 100 square foot homes like the one in the video for places like that plot of land in Hocking Hills you just bought with a big pond and great views. While a tiny home may not always be practical, I hope that when you are contemplating the size of your next home that you stop to think about that ‘just right’ size. I’ll call it the Goldilocks Quotient. There, I just coined a new phrase.

Conventional wisdom around the country is that Buyers care less these days about getting the biggest house they can buy with their money and more about getting a house that’s just right and suits their needs.  It’s been said that Buyers are looking for greener options and homes that are more economically friendly to heat and live in on a daily basis. It’s not a new phenomena and I’ve written about it before.

Over the last Sixty Days in Columbus, the average square feet of  the 761 homes that sold was 1,550 and the median was 1,410 square feet. In the same time frame Ten years ago, the 1,419 homes that sold (!wow, nearly twice as many homes in the same period!) averaged 1447 square feet.  So maybe the average Columbus home that has sold on the market has gone down by about 100 square feet over the last ten years. It’s Columbus so many of the homes are in older established neighborhoods and the amount of room inside those homes is what was when they were built 20, 40 80 years ago. Ditto with inner ring suburbs like Bexley, Grandview and Worthington. These communities aren’t building tons of new homes which would be an interesting way to track Columbus Homebuyer requirements but they obviously offer bigger and smaller homes. A more detailed look into Columbus Home Buyers’ preferences over the years may tell us more than this cursory information but this post is more to get you thinking than it is stocked with data.

Real Estate Redux – Central Ohio 2010 is beginning to look a lot like 2009

Remember that the Columbus Board of Realtors spans contiguous counties as well as Franklin County

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 7.8 percent; 20 years ago, it was 10.17 percent; 30 years ago, it was 13.79 percent. According to Lusk-Gleich, “The time to buy is now.”

“Those of us in the real estate profession continue to talk about how perfect this market is for many buyers – especially for those purchasing their first home,” Lusk-Gleich adds.

The Columbus Board of REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Madison, Morrow, Pickaway and Union Counties and parts of Champagne, Clark, Hocking, Licking, Fairfield, Knox, Logan, Marion, and Ross Counties.

For more information about the central Ohio housing market, visit www.ColumbusRealtors.com
To view commercial properties for sale or lease in central Ohio, visit www.COCIE.org.
To view residential properties for sale, visit www.Realtor.com