Columbus Housing Market April 2013



Columbus housing market April 2013 Columbus, Ohio

The Columbus Board of Realtors released home sales data for April and YTD recently. Their area covers an area a bit larger than the Columbus metro, so I tried to stick with just those areas within it. I also tried to avoid capturing essentially the same area (school district vs city boundary). There are a few exceptions where I wanted to highlight specific areas or neighborhoods of Columbus.

LSD=Local school district
CSD=City school district

Top 10 Home Sales % Change since April 2012
1. Bexley city: +137.5%
2. Sunbury city: +125.0%
3. Delaware LSD: +82.4%
4. Lancaster CSD: +74.2%
5. Hilliard city: +66.7%
6. Marysville CSD: +64.3%
7. Pataskala city: +57.1%
8. London CSD: +50.0%
9. Upper Arlington CSD: +48.9%
10. South-Western CSD: +47.8%

Top 10 Home Sales % Change 2013 Year to Date
1. Sunbury city: +78.6%
2. Lithopolis city: +66.7%
3. Bexley city: +50.0%
4. Gahanna city: +46.1%
5. Hilliard city: +45.5%
6. Delaware CSD: +44.3%
7. Westerville city: +40.3%
8. Whitehall city: +37.5%
9. Marysville CSD: +36.7%
10. Lancaster CSD: +36.0%

Bottom 10 Home Sales % Change since April 2012
1. Powell city: -55.6%
2. Minerva Park city: -50.0%
3. Whitehall city: -42.9%
4. German Village: -36.4%
5. Downtown: -29.6%
6. Obetz city: -20.0%
7. New Albany city: -14.3%
8. Worthington city: -12.5%
9. Grandview Heights city: -11.1%
10. Circleville CSD: -11.1%

Bottom 10 Home Sales % Change 2013 Year to Date
1. Obetz city: -61.9%
2. Granville CSD: -31.3%
3. Worthington city: -11.3%
4. New Albany city: -5.8%
5. Grandview Heights city: -3.7%
6. Valleyview city: 0.0%
7. Powell city: +3.7%
8. Canal Winchester CSD: +3.9%
9. Newark CSD: +10.1%
10. Johnstown CSD: +11.5%

So it looks like, so far… in the urban core, Bexley, Upper Arlington and Whitehall are all having a good sales year, while Worthington and Grandview Heights are not. Downtown had a bad April, but is doing well for the year. Same with German Village. Suburbs performing well include Delaware, Hilliard and Sunbury. Those performing badly include New Albany and Powell.

Top 10 Turnover (Average # of Days on the Market before Sold) in April 2013
1. Valleyview city: 0 Days
2. Plain City CSD: 25 Days
3. Sunbury city: 27 Days
4. German Village: 29 Days
4. Obetz city: 29 Days
4. Worthington city: 29 Days
5. Powell city: 43 Days
6. Upper Arlington CSD: 47 Days
7. Beechwold/Clintonville: 49 Days
8. Gahanna city: 52 Days
8. Pataskala city: 52 Days
9. Lithopolis city: 54 Days
10. Grandview Heights city: 56 Days

Bottom 10 Turnover for April 2013
1. Circleville CSD: 164 Days
2. London CSD: 131 Days
3. Newark CSD: 123 Days
4. Minerva Park city: 116 Days
5. Downtown: 105 Days
6. Marysville CSD: 102 Days
7. Lancaster CSD: 98 Days
8. Delaware CSD: 92 Days
9. Blacklick: 88 Days
10. Bexley city: 80 Days

Top 10 Turnover 2013 Year to Date
1. Worthington city: 42 Days
2. Plain City CSD: 46 Days
3. Obetz city: 48 Days
4. Upper Arlington CSD: 60 Days
5. Pickerington city: 65 Days
6. Pataskala city: 67 Days
6. Whitehall city: 67 Days
7. Beechwold/Clintonville: 68 Days
7. Grandview Heights city: 68 Days
7. Minerva Park city: 68 Days
8. Groveport LSD: 69 Days
8. Reynoldsburg LSD: 69 Days
8. South Western CSD: 69 Days
9. German Village: 70 Days
9. Powell city: 70 Days
9. Westerville city: 70 Days
9. Worthington city: 70 Days
10. Columbus city: 72 Days

Bottom 10 Turnover 2013 Year to Date
1. Valleyview city: 151 Days
2. Circleville CSD: 148 Days
3. Newark CSD: 117 Days
4. London CSD: 115 Days
5. Bexley city: 97 Days
6. Lancaster CSD: 96 Days
7. Delaware CSD: 90 Days
7. Hilliard city: 90 Days
7. New Albany city: 90 Days
8. Johnstown LSD: 89 Days
9. Downtown: 87 Days
9. Lithopolis city: 87 Days
9. Marysville CSD: 87 Days
10. West Jefferson LSD: 86 Days

# of Months Total On-Market Housing Supply Would Last if No Other Homes Became Available, April 2013- Top 10
1. Valleyview city: 1.6 Months
2. Worthington city: 1.8 Months
3. Grandview Heights city: 2.0 Months
4. Upper Arlington CSD: 2.3 Months
5. Sunbury city: 2.5 Months
6. Hilliard city: 2.7 Months
7. Beechwold/Clintonville: 2.8 Months
8. Powell city: 2.9 Months
8. Westerville city: 2.9 Months
9. Gahanna city: 3.1 Months
10. Johnstown LSD: 3.2 Months

And Bottom 10
1. Granville CSD: 9.2 Months
2. London CSD: 8.7 Months
3. Circleville CSD: 8.6 Months
4. Newark CSD: 7.4 Months
5. Pataskala city: 5.9 Months
6. Lancaster CSD: 5.8 Months
7. Obetz city: 5.0 Months
8. South Western CSD: 4.8 Months
9. Canal Winchester CSD, Marysville CSD, New Albany city, Reynoldsburg CSD: 4.6 Months
10. Columbus city, Grove City city: 4.5 Months

With the supply numbers, generally anything around 5 months is considered a healthy supply. Well over and the market is saturated, well under it’s undersupplied. For the record, Downtown’s supply is 4.1 months.

Top 10 Average Sales Price % Change Year to Date
1. Valleyview city: +52.3%
2. Circleville CSD: +29.8%
3. Johnstown LSD: +26.7%
4. Minerva Park city: +23.7%
5. Gahanna city: +22.6%
6. Marysville CSD: +22.3%
7. Downtown: +19.9%
8. Lancaster CSD: +17.6%
9. Reynoldsburg CSD: +14.0%
10. Bexley city: +11.3%

Bottom 10
1. Grandview Heights city: -26.1%
2. Pataskala city: -22.3%
3. Obetz city: -15.6%
4. Granville CSD: -10.9%
5. Sunbury city: -10.8%
6. Blacklick: -10.5%
7. German Village: -5.3%
8. New Albany city: -3.5%
9. Westerville city: -3.2%
10. Plain City LSD: -1.9%

If you don’t see a market listed you’re curious about, check out the April 2013 Market Report may have what you’re looking for.



Cool Link Mortgage Interest Deduction



mortgage interest deduction

Okay, maybe not the coolest link, but still…
The Mortgage Interest Deduction is basically a government subsidy that specifically targets single-family home ownership. What this means is that it’s basically money to build more sprawl. Today’s link shows several interactive maps on this topic, and you can search all the way down to the zip code. For Columbus, those who take advantage of this deduction live far more in the suburbs than in the inner core, not surprisingly.

April 2013 Project Updates for Downtown



These monthly updates do not include all ongoing projects, but just updates on the most significant or those that have recently made news. To see the full list, check out the Columbus Development page.

Downtown
1. The ongoing Neighborhood Launch expansion continues The current expansion includes a pair of 5-story buildings along E. Long Street at N. 5th. The two buildings will contain about 260 new apartments. The foundations are mostly complete and the buildings are now going vertical. The former Faith Mission at 315 E. Long will be renovated and converted into an event and meeting space for new residents of the project.
2. Construction continues on the High Point residential project at Columbus Commons. Just over 300 apartments as well as ground floor retail and a handful of park-side restaurants will be included once complete. Work is well underway on the 2nd story of these twin 6-story buildings.
3. An application for architectural review has been submitted to the downtown commission for Discovery Commons, a 5-story residential project at E. Spring and Neilston that will include 102 apartments and 70 underground parking spaces. This project has been floating around for over a year, so the recent submission suggests this may finally start to move forward.
4. The historic corner building at 101 S. High Street was recently announced to be renovated into mixed-use. The 4-story building will have Heartland Bank take over the bottom floor with the top 3 floors being residential. No word on how many units it would be, but the renovation is expected to start later this year.
5. The Hills Market at 96 Grant Avenue finally opened a few weeks ago after long construction delays put off the original opening date by almost 4 months.
6. The Atlas building will finally begin its renovation and conversion to 186 apartments and ground-floor retail later this spring. Historic preservation credits were issued for the building at 8 E. Long Street earlier this year.
7. Renovation and expansion of the old Police HQ building at N. Ludlow and W. Gay is nearing completion. The building will allow consolidation of local offices from other buildings. The fate of the vacated buildings nearby remains unannounced.
8. The LeVeque Tower’s renovation and conversion to mixed-use continues. A hotel, offices and several dozen residential units are in the works once complete later in the year.
9. The Columbus Metropolitan Library Main Branch at S. Grant and E. Town Streets recently announced purchase and expansion plans for the adjacent old Deaf School. Construction should begin sometime this year.

Detailed lists of present, past and future Columbus development are included on the Development page.



Housing Market Update March 2013




housing market update March 2013

This Columbus housing market update for March 2013 includes an expansion of data, specifically the time it takes for homes to sell on the current market.

Note: LSD= Local School District, CSD= City School District. In both cases, school district boundaries differ from city boundaries.

Top 15 Most Expensive Locations By Median Sales Price in March 2013
1. New Albany: $471,000
2. Dublin: $330,000
3. Powell: $317,000
4. New Albany Plain LSD: $316,000
5. Upper Arlington CSD: $302,450
6. Olentangy LSD: $291,250
7. Granville CSD: $282,050
8. Downtown: $269,000
9. German Village: $267,250
10. Dublin CSD: $266,500
11. Hilliard: $250,000
12. Big Walnut LSD: $245,000
13. Buckeye Valley LSD: $243,000
14. Johnstown Monroe LSD: $207,250
15. Bexley: $205,000

Top 15 Least Expensive Locations by Median Sales Price in March 2013
1. Whitehall: $45,250
2. Obetz: $56,450
3. Groveport Madison LSD: $63,625
4. Hamilton LSD: $66,750
5. Columbus CSD: $85,000
6. Lancaster CSD: $89,550
7. Newark CSD: $89,900
8. South-Western CSD: $100,000
9. Columbus: $103,250
10. Sunbury: $106,900
11. Reynoldsburg CSD: $115,000
12. Jefferson LSD: $122,000
13. Blacklick: $123,500
14. London CSD: $128,000
15. Grandview Heights: $136,000

Whitehall was the cheapest market yet again, though its median prices have been going up slowly.

Overall Market Median Sales Price in March 2013: $139,028

Top 15 Locations with the Highest Median Sales Price % Growth Between March 2012 and March 2013
1. Minerva Park: +223.8%
2. Jonathan Alder LSD: +99.0%
3. Circleville CSD: +63.3%
4. Buckeye Valley LSD: +59.3%
5. Johnstown Monroe LSD: +53.5%
6. Reynoldsburg CSD: +47.4%
7. Hilliard: +47.1%
8. Downtown: +34.6%
9. Big Walnut LSD: +31.5%
10. Westerville CSD: +28.3%
11. Powell: +28.1%
12. Gahanna: +22.0%
13. Olentangy LSD: +18.4%
14. Marysville CSd: +14.8%
15. Worthington: +13.9%

Downtown continued to do well, but otherwise few places inside 270 did.

Top 15 Locations with the Lowest Median Sales Price % Growth Between March 2012 and March 2013
1. Grandview Heights: -43.7%
2. Sunbury: -42.6%
3. Obetz: -29.3%
4. Whitehall: -24.3%
5. Bexley: -21.1%
6. Lithopolis: -20.1%
7. Hamilton LSD: -15.8%
8. Blacklick: -12.0%
9. Pataskala: -9.2%
10. Delaware CSD: -5.3%
11. Gahanna Jefferson CSD: -5.1%
12. Beechwold/Clintonville: -4.1%
13. South-Western CSD: -2.9%
14. London CSD: -1.9%
15. Columbus CSD: -1.0%

Overall Market Median Sales Price % Change March 2012 vs. March 2013: +9.9%

Top 10 Locations with the Most New Listings in March 2013
1. Columbus: 1,309
2. Columbus CSD: 811
3. South-Western CSD: 221
4. Olentangy LSD: 197
5. Hilliard CSD: 195
6. Westerville CSD: 185
7. Dublin CSD: 140
8. Pickerington LSD: 100
9. Worthington CSD: 97
10. Dublin: 93

Top 10 Locations with the Fewest New Listings in March 2013
1. Valleyview: 1
2. Lithopolis: 2
3. Minerva Park: 4
4. Jefferson LSD: 6
5. Johnstown Monroe LSD: 8
6. Jonathan Alder LSD: 9
7. Obetz: 10
8. Hamilton LSD: 13
9. Grandview Heights: 14
10. Sunbury: 17
11. Circleville CSD: 17

Total New Listings in the Columbus Metro in March 2013: 3,222
Overall Metro New Listings % Change March 2012-March 2013: +0.2%

Prices were up almost 10% year over year for the month despite a small increase in overall supply.

Top 10 Fastest-Selling Locations by # of Days Homes Remain on the Market Before Sale in March 2013
1. Minerva Park: 3
2. Worthington: 29
3. Granville CSD: 35
4. Jonathan Alder LSD: 36
5. Upper Arlington CSD: 51
6. Downtown: 54
7. Pickerington: 54
8. Pickerington LSD: 60
9. Dublin CSD: 61
10. Grandview Heights: 63
11. Groveport Madison LSD: 63
12. Reynoldsburg CSD: 63
13. South-Western CSD: 63
14. Grove City: 65
15. Powell: 65

Top 10 Slowest-Selling Locations by # of Days Homes Remain on the Market Before Sale in March 2013
1. Bexley: 188
2. Circleville CSD: 168
3. Sunbury: 163
4. Lancaster CSD: 140
5. Big Walnut LSD: 129
6. Hilliard: 125
7. Lithopolis: 121
8. Newark CSD: 120
9. Obetz: 119
10. Gahanna: 117

The Columbus Realtors provides market condition reports going back many years.



Housing Market Update February 2013




housing market update February 2013

The new Columbus Housing Market Update is now available for February 2013!

Note: LSD= Local School District, CSD= City School District. In both cases, school district boundaries differ from city boundaries.

Top 15 Most Expensive Locations By Median Sales Price in February 2013
1. New Albany: $459,000
2. Powell: $300,000
3. Olentangy LSD: $290,000
4. Dublin: $278,000
5. New Albany Plain LSD: $273,000
6. Upper Arlington CSD: $230,000
7. Downtown: $230,000
8. Bexley: $229,900
9. Dublin CSD: $226,500
10. German Village: $218,750
11. Granville CSD: $210,000
12. Buckeye Valley LSD: $209,155
13. Johnstown Monroe LSD: $201,250
14. Gahanna Jefferson CSD: $200,000
15. Gahanna: $200,000

Top 15 Least Expensive Locations by Median Sales Price in February 2013
1. Whitehall: $30,500
2. Jefferson LSD: $56,000
3. Hamilton LSD: $58,000
4. Valleyview: $58,000
5. Newark CSD: $64,000
6. Columbus CSD: $76,500
7. Groveport Madison LSD: $77,778
8. South-Western CSD: $83,000
9. Circleville CSD: $83,900
10. Sunbury: $89,000
11. Reynoldsburg CSD: $96,000
12. Columbus: $97,500
13. Pataskala: $98,950
14. London CSD: $106,500
15. Lancaster CSD: $106,700

Whitehall continued to be the cheapest market for the second month in a row.

Overall Market Median Sales Price in February 2013: $122,143

Top 15 Locations with the Highest Median Sales Price % Growth Between February 2012 and February 2013
1. Jefferson LSD: +64.7%
2. Buckeye Valley LSD: +54.9%
3. Johnstown Monroe LSD: +53.3%
4. Obetz: +43.9%
5. Canal Winchester CSD: +40.1%
6. Gahanna: +37.3%
7. Gahanna Jefferson CSD: +17.0%
8. Dublin CSD: +15.0%
9. Downtown: +15.0%
10. Westerville: +12.2%
11. German Village: +12.2%
12. Groveport Madison LSD: +11.1%
13. Columbus CSD: +10.9%
14. Olentangy LSD: +10.3%
15. London CSD: +8.7%

Far-flung exurban districts seemed to see the largest increases this month.

Top 15 Locations with the Lowest Median Sales Price % Growth Between February 2012 and February 2013
1. Sunbury: -55.0%
2. Big Walnut LSD: -37.1%
3. Hilliard: -29.2%
4. Hamilton LSD: -27.3%
5. Grandview Heights: -26.0%
6. New Albany Plain LSD: -26.0%
7. Circleville CSD: -24.8%
8. Bexley: -22.8%
9. Upper Arlington CSD: -20.0%
10. Pataskala: -19.2%
11. Granville CSD: -17.6%
12. Grove City: -13.1%
13. Whitehall: -12.3%
14. Delaware CSD: -10.1%
15. Hilliard CSD: -9.8%

Overall Market Median Sales Price % Change February 2012 vs. February 2013: -1.5%

Top 10 Locations with the Most New Listings in February 2013
1. Columbus: 1,083
2. Columbus CSD: 677
3. South-Western CSD: 240
4. Olentangy LSD: 177
5. Hilliard CSD: 147
6. Dublin CSD: 134
7. Westerville CSD: 114
8. Grove City: 89
9. Worthington CSD: 88
10. Dublin: 84

Top 10 Locations with the Fewest New Listings in February 2013
1. Valleyview: 0
2. Obetz: 1
3. Lithopolis: 3
4. Minerva Park: 5
5. Grandview Heights: 5
6. Sunbury: 6
7. Johnstown Monroe LSD: 6
8. Jefferson LSD: 8
9. Jonathan Alder LSD: 12
10. Hamilton LSD: 13
11. Whitehall: 14

Total New Listings in the Columbus Metro in February 2013: 2,694
Overall Metro New Listings % Change February 2012-February 2013: +17.9%

Supply improved over a year earlier.

For more information on the local market, go here: Columbus Realtors