Category Archives: Columbus Business

Housing Market Update January 2013

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housing market update January 2013

Columbus housing market update January 2013

We’re starting a new year in this edition of the Columbus Housing Market Update, with new January 2013 data now available!

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 January 2013
1. New Albany: $447,500
2. Powell: $342,500
3. Upper Arlington CSD: $320,000
4. New Albany Plain LSD: $314,400
5. Dublin: $284,00
6. Bexley: $269,950
7. Olentangy LSD: $250,101
8. German Village: $241,618
9. Worthington: $228,938
10. Grandview Heights: $223,000
11. Downtown: $210,000
12. Granville CSD: $207,000
13. Dublin CSD: $190,450
14. Big Walnut LSD: $187,000
15. Marysville CSD: $182,000

New Albany continued to be the most expensive market.

Top 15 Least Expensive Locations by Median Sales Price in January 2013
1. Whitehall: $29,750
2. Hamilton LSD: $54,500
3. Columbus CSD: $68,500
4. Groveport Madison LSD: $70,000
5. Lancaster CSD: $71,250
6. Valleyview: $79,850
7. Newark CSD: $84,500
8. Reynoldsburg CSD: $94,500
9. Columbus: $95,000
10. Jefferson LSD: $95,000
11. South-Western CSD: $103,000
12. Circleville CSD: $109,000
13. Canal Winchester CSD: $112,000
14. Pataskala: $120,000
15. London CSD: 122,000

Whitehall was by far the cheapest market to buy into this month.

Overall Market Median Sales Price in January 2013: $120,885

Top 15 Locations with the Highest Median Sales Price % Growth Between January 2012 and January 2013
1. Newark CSD: +83.3%
2. Valleyview: +76.5%
3. Lithopolis: +71.1%
4. Circleville CSD: +61.4%
5. Groveport Madison LSD: +60.9%
6. Marysville CSD: +38.8%
7. London CSD: +34.8%
8. New Albany: +29.7%
9. Columbus CSD: +28.0%
10. Grandview Heights: +27.4%
11. Columbus: +26.7%
12. Upper Arlington CSD: +24.3%
13. Downtown: +19.3%
14. Sunbury: +18.4%
15. South-Western CSD: +16.1%

Downtown and Columbus overall made the top markets for appreciation in the past year.

Top 15 Locations with the Lowest Median Sales Price % Growth Between January 2012 and January 2013
1. Granville CSD: -50.7%
2. Jonathan Alder LSD: -33.0%
3. Westerville: -29.2%
4. Dublin CSD: -23.3%
5. Hamilton LSD: -21.6%
6. Jefferson LSD: -20.8%
7. Big Walnut LSD: -19.7%
8. Bexley: -17.6%
9. Gahanna: -17.0%
10. Johnstown Monroe LSD: -16.2%
11. Westerville CSD: -14.8%
12. Worthington CSD: -12.5%
13. German Village: -10.5%
14. Grove City: -6.4%
15. Whitehall: -4.9%

Overall Market Median Sales Price % Change January 2012 vs. January 2013: +8.6%

Top 10 Locations with the Most New Listings in January 2013
1. Columbus: 957
2. Columbus CSD: 605
3. South-Western CSD: 210
4. Olentangy LSD: 146
5. Hilliard CSD: 126
6. Westerville CSD: 109
7. Dublin CSD: 94
8. Pickerington LSD: 81
9. Grove City: 66
10. Groveport Madison LSD: 65

Top 10 Locations with the Fewest New Listings in January 2013
1. Valleyview: 1
2. Minerva Park: 1
3. Lithopolis: 2
4. Jefferson LSD: 3
5. Obetz: 6
6. Jonathan Alder LSD: 8
7. Grandview Heights: 9
8. Sunbury: 10
9. Johnstown Monroe LSD: 10
10. Hamilton LSD: 12
11. Whitehall: 15

Total New Listings in the Columbus Metro in January 2013: 2,388
Overall Metro New Listings % Change January 2012-January 2013: -3.7%

This month, prices increased as overall supply slipped.

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



Columbus as a Tech City

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Columbus has been mentioned a few times over the years as a growing tech job market. Forbes named it the #1 Up and Coming Tech City in 2008, for example, although Forbes seems to randomly choose cities for its exhausting number of rankings each year, so that can be taken with a grain of salt. So is Columbus as a tech city really a thing? The latest ranking suggests it might be.

The actual tech growth numbers aren’t subjective. Out of the 51 largest metros, here is how Columbus ranked the last decade or so in STEM jobs (Science, Technology, Engineering and Mathematics).

2001-2012 % Growth in Total STEM Jobs: +10.4% Rank of 51: 13th
2005-2012 % Growth in Total STEM Jobs: +12.8% Rank of 51: 9th
2010-2012 % Growth in Total STEM Jobs: +4.7% Rank of 51: 16th
2012 Location Quotient*: 1.27 LQ Rank of 51: 14th
2001-2012 Location Quotient Change: +7.6% Change Rank of 51: 5th

*Location Quotient is the local share of STEM jobs divided by the national share of STEM jobs. Anything above 1.0 indicates that the local share is higher than the national average.

So Columbus is clearly doing well and is handily beating out many much larger cities. It is one of only two Midwestern cities in the top 15 (Indianapolis is #15), and its rate of growth in concentration of STEM jobs is in the top 5 nationally. As the article discusses, traditional tech centers are actually losing STEM jobs while other areas, like Columbus, are gradually becoming bigger players. A well-educated workforce is paramount, and one of Columbus’ greatest strengths is its abundance of colleges and universities and young population. There are over 100,000 students in the area, and this ensures a strong workforce available for tech jobs. An example of how this attracts new STEM jobs was the recently announced plan by IBM to open its worldwide HQ for Advanced Analytics in Dublin along with 500 new jobs. The article with more details on this project can be found here.