Category Archives: Columbus Economy

Columbus Housing Market September 2013

Posted on by
Reply



Columbus housing market September 2013

According to Columbus Realtors, September continued one of the Columbus area’s longest positive streaks when it came to housing sales, although sales were down a bit from earlier this year. Overall, sales were up 13.1% and prices were up 4.2%.

For the housing report, I look at the 21 major areas of the Franklin County area (11 urban, 10 suburban). Here is what the September market looked like.

Top 10 September Sales Totals
1. Columbus: 820
2. Dublin: 72
3. Westerville: 59
4. Upper Arlington: 53
5. Grove City: 49
6. Hilliard: 49
7. Clintonville: 47
8. Gahanna: 45
9. Reynoldsburg: 34
10. Canal Winchester: 29

Top 10 September Sales Increases Over September 2012
1. Whitehall: +142.9%
2. Westerville: +96.7%
3. Obetz: +66.7%
4. Canal Winchester: +38.1%
5. Reynoldsburg: +36.0%
6. Pataskala: +35.7%
7. Grove City: +32.4%
8. Gahanna: +28.6%
9. New Albany: +28.6%
10. Minerva Park: +25.0%

Top 10 Total YTD Sales Through September
1. Columbus: 8,019
2. Dublin: 636
3. Upper Arlington: 588
4. Clintonville: 554
5. Westerville: 495
6. Grove City: 487
7. Hilliard: 460
8. Gahanna: 414
9. Reynoldsburg: 381
10. Pickerington: 254

Top 10 YTD Sales Increases Through over September 2012
1. Minerva Park: +47.6%
2. Whitehall: +45.9%
3. Hilliard: +36.1%
4. Pataskala: +33.1%
5. Westerville: +33.1%
6. Bexley: +32.4%
7. Gahanna: +31.8%
8. Reynoldsburg: +31.8%
9. Clintonville: +28.5%
10. German Village: +27.6%

Average Sales September 2013
Urban: 91.6
Suburban: 39.2
Urban without Columbus: 18.8

Average % Change September 2013 vs. September 2012
Urban: +10.6%
Suburban: +30.3%
Urban without Columbus: +10.5%

Average Sales YTD Through September
Urban: 923.2
Suburban: 370.1
Urban without Columbus: 213.6

Average % Change YTD vs. YTD 2012 (Through September)
Urban: +19.2
Suburban: +24.7%
Urban without Columbus: +18.5%

Top 10 Average Sales Price September 2013
1. New Albany: $512,564
2. Upper Arlington: $402,771
3. Dublin: $359,925
4. Bexley: $293,331
5. Downtown: $259,331
6. Grandview Heights: $244,433
7. German Village: $235,557
8. Worthington: $234,716
9. Hilliard: $220,823
10. Clintonville: $206,610

Top 10 Average Sales Price % Increases vs. September 2012
1. Whitehall: +99.3%
2. Obetz: +98.1%
3. Minerva Park: +51.3%
4. Upper Arlington: +20.6%
5. New Albany: +20.2%
6. Gahanna: +18.5%
7. Dublin: +13.5%
8. Hilliard: +10.5%
9. Pickerington: +10.2%
10. Reynoldsburg: +9.4%

Top 10 Average Sales Price YTD
1. New Albany: $543,445
2. Upper Arlington: $364,187
3. Bexley: $347,444
4. Dublin: $333,741
5. German Village: $302,753
6. Downtown: $281,729
7. Worthington: $246,663
8. Grandview Heights: $222,115
9. Hilliard: $219,302
10. Gahanna: $201,444

Top 10 Average YTD Sales Price % Change vs. YTD 2012
1. Whitehall: +23.2%
2. Minerva Park: +18.2%
3. Downtown: +13.5%
4. Upper Arlington: +13.3%
5. Gahanna: +12.9%
6. Reynoldsburg: +9.6%
7. New Albany: +9.4%
8. Canal Winchester: +6.6%
9. Bexley: +6.0%
10. Worthington: +5.7%

Average Price September 2013
Urban: $210,653
Suburban: $222,473
Urban without Columbus: $219,161

Average Price % Change vs. September 2012
Urban: +23.7%
Suburban: +7.7%
Urban without Columbus: +25.9%

Average Price YTD
Urban: $215,336
Suburban: $223,809
Urban without Columbus: $224,046

Average Price % Change YTD vs. YTD 2012
Urban: +6.2%
Suburban: +5.2%
Urban without Columbus: +6.4%

Top 10 Fastest Selling Markets September (based on # of Days listings sell)
1. Worthington: 26
2. Minerva Park: 29
3. Clintonville: 34
4. Obetz: 34
5. Upper Arlington: 34
6. Hilliard: 41
7. Westerville: 42
8. New Albany: 44
9. Pickerington: 45
10. Whitehall: 45

Top 10 Fastest Selling Markets YTD
1. Worthington: 37
2. Upper Arlington: 45
3. Grandview Heights: 48
4. Clintonville: 52
5. Hilliard: 53
6. Westerville: 53
7. Bexley: 58
8. Gahanna: 58
9. Dublin: 61
10. Grove City: 61

Average # of Days before Sale, September 2013
Urban: 48.0
Suburban: 51.8
Urban without Columbus: 47.1

Average # of Days before Sale, YTD
Urban: 60.7
Suburban: 61.1
Urban without Columbus: 60.3

Top 10 Lowest Housing Supplies (based on # of months to sell all listings), September 2013
1. Worthington: 1.9
2. Upper Arlington: 2.3
3. Bexley: 2.4
4. Hilliard: 2.6
5. Westerville: 2.6
6. Clintonville: 2.7
7. Grandview Heights: 2.9
8. Gahanna: 3.2
9. Dublin: 3.4
10. Whitehall: 3.7

Average # of Months to Sell All Listings
Urban: 3.5
Suburban: 4.1
Urban without Columbus: 3.4

Average % Change of Single-Family Home Sales, September 2013 vs. September 2012
Urban: +23.7%
Suburban: +31.0%
Urban without Columbus: +24.7%

Average % Change of Condo Sales, September 2013 vs. September 2012
Urban: -23.5%
Suburban: +48.4%
Urban without Columbus: -25.3%

Average % Change of Single-Family Home Sales YTD vs. YTD 2012
Urban: +13.0%
Suburban: +24.7%
Urban without Columbus: +11.7%

Average % Change of Condo Sales YTD vs. YTD 2012
Urban: +35.8%
Suburban: +26.2%
Urban without Columbus: +36.7%



Midwest GDP and Income Comparison

Posted on by
Reply



Midwest GDP and income comparison

The Bureau of Economic Analysis recently issued GDP numbers for 2012, along with revised data for previous years, so I thought it would be interesting to make a Midwest GDP and income comparison.

First, let’s look at how Ohio is doing in relation to the other Midwest states.

2012 Gross Domestic Product By State in Millions, Highest to Lowest
1. Illinois: $695,238
2. Ohio: $509,393
3. Michigan: $400,504
4. Indiana: $298,625
5. Minnesota: $294,729
6. Wisconsin: $261,548
7. Missouri: $258,832
8. Iowa: $152,436
9. Kansas: $138,953
10. Nebraska: $99,557
11. North Dakota: $46,016
12. South Dakota: $42,464

Total Midwest GDP in 2012 in Millions: $3,198,295

So Ohio has the 2nd largest economy in the Midwest, only behind Illinois and its Chicago powerhouse. Ohio has also reclaimed its spot as the 7th largest state economy after catching up to and surpassing New Jersey, which passed Ohio in 2006.

Ohio’s more than half-trillion economy is also growing faster than almost every state in the Midwest, as shown below.

Total GDP Change 2000-2012 in Millions, Highest to Lowest
1. Illinois: +$220,718
2. Ohio: +$128,498
3. Minnesota: +$105,911
4. Indiana: +$100,387
5. Wisconsin: +$84,193
6. Missouri: +$77,865
7. Michigan: +$63,045
8. Iowa: +$59,124
9. Kansas: +$53,231
10. Nebraska: +$42,224
11. North Dakota: +$27,750
12. South Dakota: +$18,426

Difference in Millions Between Ohio’s GDP and that of Other States 2000 and 2012
Ohio vs. Illinois
2000: -$93,865
2010: -$185,845
Ohio vs. Indiana
2000: $182,657
2010: $210,768
Ohio vs. Iowa
2000: $287,583
2010: $356,957
Ohio vs. Kansas
2000: $295,173
2010: $370,440
Ohio vs. Michigan
2000: $43,436
2010: $108,889
Ohio vs. Minnesota
2000: $192,077
2010: $214,664
Ohio vs. Missouri
2000: $199,928
2010: $250,561
Ohio vs. Nebraska
2000: $323,562
2010: $409,836
Ohio vs. North Dakota
2000: $362,629
2010: $463,377
Ohio vs. South Dakota
2000: $356,857
2010: $466,929
Ohio vs. Wisconsin
2000: $203,540
2010: $247,845

So Ohio has increased its GDP lead over every Midwest state except for Illinois.

Per-Capita GDP, however, is not Ohio’s strong point.

2012 Per-Capita GDP in Dollars, Highest to Lowest
1. North Dakota: $55,250
2. Minnesota: $47,028
3. Illinois: $46,161
4. Nebraska: $44,943
5. South Dakota: $43,181
6. Iowa: $42,222
7. Kansas: $41,070
8. Wisconsin: $39,308
9. Indiana: $39,065
10. Ohio: $37,690
11. Missouri: $36,815
12. Michigan: $35,298

Per-Capita GDP, does not tell us income, however.

2012 Per-Capita Income By State, Highest to Lowest
1. North Dakota: $51,893
2. Minnesota: $46,227
3. Illinois: $44,815
4. South Dakota: $43,659
5. Nebraska: $43,143
6. Iowa: $42,126
7. Kansas: $41,835
8. Wisconsin: $40,537
9. Ohio: $39,289
10. Missouri: $39,049
11. Michigan: $37,497
12. Indiana: $36,902

Ohio does slightly better here. The question would be, why is Ohio’s so low in comparison? It may have a bit to do with the overall cost of living, at least according to this cost of living index.m

Cost of Living Rank by State (out of 50), 2nd Quarter 2013
Nebraska: 2
Indiana: 5
Iowa: 9
Kansas: 11
Ohio: 13
Missouri: 16
Michigan: 19
Illinois: 20
Wisconsin: 23
North Dakota: 30
South Dakota: 31
Minnesota: 34

Ohio is less expensive to live in than 7 of the other Midwest states and is cheaper than 37 states in total. This almost certainly plays a role in wages. All in all, perhaps the state is far better off economically than the perception may indicate, at least by these metrics.



Columbus Housing Market August 2013

Posted on by
Reply



Columbus housing market August 2013

The Columbus housing market August 2013 data from Columbus Realtors shows that the area continued hot, with record August sales and potentially a record year still in the making. For the region, sales were up 11% for August and are were up almost 23% for the first 8 months of the year.

I looked at the 21 major areas of Franklin County (11 urban, 10 suburban). Here is what the August market looked like.

Top 10 August Sales Totals
1. Columbus: 1,027
2. Upper Arlington: 82
3. Dublin: 78
4. Clintonville: 75
5. Grove City: 72
6. Hilliard: 66
7. Westerville: 61
8. Gahanna: 52
9. Worthington: 37
10. Reynoldsburg: 35

Top 10 August Sales Increases Over August 2012
1. Minerva Park: +400.0%
2. Downtown: +66.7%
3. Gahanna: +48.6%
4. Upper Arlington: +34.4%
5. German Village: +25.0%
6. Clintonville: +21.0%
7. Grove City: +20.0%
8. Westerville: +15.1%
9. Columbus: +12.6%
10. Whitehall: +12.5%

Top 10 Total YTD Sales Through August
1. Columbus: 7,149
2. Dublin: 561
3. Upper Arlington: 533
4. Clintonville: 505
5. Grove City: 437
6. Westerville: 436
7. Hilliard: 409
8. Gahanna: 369
9. Reynoldsburg: 346
10. Pickerington: 236

Top 10 YTD Sales Increases Through over August 2012
1. Minerva Park: +52.9%
2. Whitehall: +37.4%
3. Hilliard: +37.2%
4. German Village: +34.5%
5. Bexley: +33.3%
6. Gahanna: +32.3%
7. Downtown: +31.7%
8. Clintonville: +31.2%
9. Pataskala: +31.1%
10. Reynoldsburg: +31.1%

Average Sales August 2013
Urban: 121.3
Suburban: 44.9
Urban without Columbus: 30.7

Average % Change August 2013 vs. August 2012
Urban: +49.5%
Suburban: -0.3%
Urban without Columbus: +53.2%

Average Sales YTD Through July
Urban: 826.2
Suburban: 330.0
Urban without Columbus: 193.9

Average % Change YTD vs. YTD 2012 (Through August)
Urban: +21.2%
Suburban: +24.0%
Urban without Columbus: +20.6%

Top 10 Average Sales Price August 2013
1. New Albany: $563,743
2. Upper Arlington: $391,739
3. Bexley: $379,746
4. Dublin: $316,481
5. Downtown: $280,630
6. German Village: $280,037
7. Worthington: $263,934
8. Grandview Heights: $240,743
9. Hilliard: $225,476
10. Canal Winchester: $197,671

Top 10 Average Sales Price % Increases vs. August 2012
1. Canal Winchester: +32.8%
2. Bexley: +27.4%
3. Pataskala: +19.0%
4. Worthington: +18.0%
5. Upper Arlington: +14.4%
6. Reynoldsburg: +11.1%
7. Columbus: +10.4%
8. New Albany: +8.8%
9. Gahanna: +5.4%
10. Hilliard: +3.5%

Top 10 Average Sales Price YTD
1. New Albany: $546,941
2. Upper Arlington: $360,574
3. Bexley: $352,910
4. Dublin: $330,887
5. German Village: $306,121
6. Downtown: $283,942
7. Worthington: $247,084
8. Grandview Heights: $222,795
9. Hilliard: $219,123
10. Gahanna: $200,988

Top 10 Average YTD Sales Price % Change vs. YTD 2012
1. Whitehall: +16.7%
2. Downtown: +15.5%
3. Upper Arlington: +12.6%
4. Gahanna: +12.3%
5. Minerva Park: +12.2%
6. Reynoldsburg: +9.6%
7. New Albany: +8.7%
8. Canal Winchester: +7.3%
9. Bexley: +6.2%
10. Worthington: +5.1%

Average Price August 2013
Urban: $223,076
Suburban: $230,864
Urban without Columbus: $231,445

Average Price % Change vs. August 2012
Urban: +1.4%
Suburban: +6.9%
Urban without Columbus: +0.5%

Average Price YTD
Urban: $215,558
Suburban: $224,012
Urban without Columbus: $224,254

Average Price % Change YTD vs. YTD 2012
Urban: +4.9%
Suburban: +4.9%
Urban without Columbus: +4.9%

Top 10 Fastest Selling Markets August 2013 (based on # of Days listings sell)
1. Gahanna: 32
2. Obetz: 32
3. Whitehall: 36
4. Bexley: 37
5. Upper Arlington: 37
6. Clintonville: 41
7. Worthington: 41
8. Grandview Heights: 42
9. Hilliard: 43
10. Westerville: 48

Top 10 Fastest Selling Markets YTD
1. Worthington: 38
2. Upper Arlington: 45
3. Grandview Heights: 46
4. Clintonville: 54
5. Hilliard: 55
6. Westerville: 55
7. Gahanna: 58
8. Bexley: 59
9. Dublin: 60
10. Grove City: 63

Average # of Days before Sale, August 2013
Urban: 49.4
Suburban: 66.8
Urban without Columbus: 48.6

Average # of Days before Sale, YTD
Urban: 62.7
Suburban: 62.4
Urban without Columbus: 62.4

Top 10 Lowest Housing Supplies (based on # of months to sell all listings), August 2013
1. Worthington: 2.1
2. Bexley: 2.3
3. Clintonville: 2.5
4. Grandview Heights: 2.5
5. Hilliard: 2.5
6. Westerville: 2.7
7. Upper Arlington: 2.8
8. Gahanna: 3.1
9. Dublin: 3.3
10. Pickerington: 3.9

Average # of Months to Sell All Listings
Urban: 3.6
Suburban: 4.1
Urban without Columbus: 3.5

Average % Change of Single-Family Home Sales, August 2013 vs. August 2012
Urban: +32.0%
Suburban: -1.8%
Urban without Columbus: +34.0%

Average % Change of Condo Sales, August 2013 vs. August 2012
Urban: +65.5%
Suburban: +51.0%
Urban without Columbus: +70.3%

Average % Change of Single-Family Home Sales YTD vs. YTD 2012
Urban: +12.9%
Suburban: +23.8%
Urban without Columbus: +11.5%

Average % Change of Condo Sales YTD vs. YTD 2012
Urban: +44.3%
Suburban: +29.5%
Urban without Columbus: +45.8%



Downtown Columbus Parking

Posted on by
Reply




Downtown Columbus parking Columbus, Ohio

Downtown Columbus parking is a problem… in that there is far too much of it. It’s long been common knowledge that Downtown had an abundance of parking lots and garages, but I’ve never seen it actually mapped or counted before. The following Google map shows what’s long been known in a bit more graphic detail.

http://goo.gl/maps/hWkCf”>Downtown Parking

Red pins are surface parking lots and blue pins are parking garages. I only tried to count surface lots with 10 spaces or more, and they could be city, business or other types of lots. Lots currently being developed were not counted, nor were underground garages.

The final tally? 310 surface lots and 27 garages! Remember that the next time someone says they can’t find somewhere to park Downtown.

June 2013 Jobs Data

Posted on by
Reply




June 2013 jobs data Columbus, Ohio

These latest June 2013 jobs data numbers are from the Bureau of Labor Statistics

Columbus City
Unemployment Rate: 6.4%
Unemployment Rate Change since June 2012: -0.1
Unemployment Rate Change since January 2013: -0.4
Civilian Labor Force: 438,100
Civilian Labor Force Change since June 2012: +5,000
Civilian Labor Force Change since January 2013: +11,700
Employment: 409,900
Employment Change since June 2012: +5,100
Employment Change since January 2013: +12,600
Unemployment: 28,200
Unemployment Change since June 2012: -100
Unemployment Change since January 2013: -900

Franklin County
Unemployment Rate: 6.4%
Unemployment Rate Change since June 2012: -0.1
Unemployment Rate Change since January 2013: -0.4
Civilian Labor Force: 640,600
Civilian Labor Force Change since June 2012: +7,400
Civilian Labor Force Change since January 2013: +16,900
Employment: 599,600
Employment Change since June 2012: +7,500
Employment Change since January 2013: +18,600
Unemployment: 41,100
Unemployment Change since June 2012: +0
Unemployment Change since January 2013: -1,500

Columbus Metro Area
Unemployment Rate: 6.4%
Unemployment Rate Change since June 2012: +0
Unemployment Rate Change since January 2013: -0.6
Civilian Labor Force: 992,617
Civilian Labor Force Change since June 2012: +12,256
Civilian Labor Force Change since January 2013: +24,712
Employment: 929,158
Employment Change since June 2012: +11,636
Employment Change since January 2013: +28,702
Unemployment: 63,459
Unemployment Change since June 2012: +620
Unemployment Change since January 2013: -3,990

Ohio Overall
Unemployment Rate: 7.2%
Unemployment Rate Change since June 2012: -0.1
Unemployment Rate Change since January 2013 : +0.2
Civilian Labor Force: 5,756,192
Civilian Labor Force Change since June 2012: +9,844
Civilian Labor Force Change since January 2013: +15,900
Employment: 5,343,335
Employment Change since June 2012: +15,079
Employment Change since January 2013: +2,483
Unemployment: 412,857
Unemployment Change since June 2012: -5,235
Unemployment Change since January 2013: +13,417

Metro Non-Farm Jobs
Total: 972,400
Change from June 2012: +15,200
Change from January 2013: +28,800

By Industry
Mining/Logging/Construction Total: 31,900
Change from June 2012: +1,000
Change from January 2013: +5,000

Manufacturing Total: 67,800
Change from June 2012: +1,400
Change from January 2013: +2,800

Trade/Transportation/Utilities Total: 181,600
Change from June 2012: -700
Change from January 2013: -1,600

Information Total: 16,400
Change from June 2012: -400
Change from January 2013: -100

Financial Activities Total: 71,800
Change from June 2012: +0
Change from January 2013: +100

Professional and Business Services Total: 161,900
Change from June 2012: +3,400
Change from January 2013: +6,300

Education and Health Services Total: 142,800
Change from June 2012: +6,600
Change from January 2013: +3,300

Leisure and Hospitality Total: 102,100
Change from June 2012: +4,700
Change from January 2013: +13,600

Other Services Total: 36,600
Change from June 2012: -500
Change from January 2013: +400

Government Total: 159,500
Change from June 2012: -300
Change from January 2013: -1,000

Overall, June was a pretty good month for Columbus and the state. Unemployment rose, but mostly because the labor force had strong growth, which is a sign of more people entering a recovering job market. Most industries saw job growth both year-over-year and year-to-date.