For this update, I’m going to do things a bit differently. In previous updates, I have done long ranking lists and it got to be a bit overwhelming. So starting with this update, I’m going to do more charts instead.
In any case, August continued the year-long trend of home sales being down, with the month coming in at more than 11% off from the same time last year. Prices, however, were up more than 6% to reach a monthly record. There continues to be a supply problem, which is the main mechanism driving both lower sales and higher prices.
December ended a 2-month decline in home sales for the area, with overall sales up 2.5% according to the Housing Market Update December 2013 data from Columbus Realtors.
Here are the stats for the 21 major areas of Franklin County that I look at housing stats for.
Top 10 December 2013 Sales Increases over December 2012 1. Minerva Park: +200.0% 2. Obetz: +200.0% 3. Reynoldsburg: +72.7% 4. Clintonville: +55.6% 5. Gahanna: +55.0% 6. Pataskala: +27.3% 7. Dublin: +15.4% 8. German Village: +10.0% 9. Worthington: +6.3% 10. Columbus: +3.8%
Top 10 Year-to-Date Sales Through December 2013 1. Columbus: 10,267 2. Dublin: 797 3. Upper Arlington: 719 4. Clintonville: 701 5. Westerville: 630 6. Grove City: 609 7. Hilliard: 556 8. Gahanna: 526 9. Reynoldsburg: 505 10. Pickerington: 312
Top 10 Year-to-Date Increases Through December 2013 Over 2012 1. Minerva Park: +51.9% 2. Gahanna: +31.8% 3. Pataskala: +31.0% 4. Reynoldsburg: +30.8% 5. Whitehall: +27.3% 6. Clintonville: +26.3% 7. Hilliard: +23.6% 8. Whitehall: +23.4% 9. Westerville: +21.9% 10. Bexley: +21.5%
Average Sales December 2013 Urban: 74.5 Suburban: 28.2 Urban without Columbus: 14.7
Average % Change December 2013 vs. December 2012 Urban: +40.5% Suburban: +6.4% Urban without Columbus: +44.2%
Average YTD Sales Through December 2013 Urban: 1,177.1 Suburban: 466.5 Urban without Columbus: 268.1
Average YTD % Change YTD Through December 2013 Urban: +15.7% Suburban: +19.4% Urban without Columbus: +15.3%
Top 10 Average Sales Price December 2013 1. New Albany: $563,187 2. Upper Arlington: $377,943 3. Bexley: $376,592 4. Dublin: $351,279 5. Downtown: $314,583 6. German Village: $303,136 7. German Village: $271,656 8. Hilliard: $249,811 9. Worthington: $232,741 10. Clintonville: $223,250
Top 10 Average Sales Price % Change December 2013 Over December 2012 1. Whitehall: +37.3% 2. New Albany: +32.8% 3. Pataskala: +29.6% 4. Reynoldsburg: +26.3% 5. Upper Arlington: +25.8% 6. Clintonville: +25.3% 7. Bexley: +23.7% 8. Hilliard: +21.9% 9. Gahanna: +19.6% 10. Dublin: +13.1%
Top 10 Average Sales Prices YTD Through December 2013 1. New Albany: $542,634 2. Upper Arlington: $365,143 3. Bexley: $352,214 4. Dublin: $336,048 5. German Village: $298,199 6. Downtown: $287,976 7. Worthington: $248,857 8. Grandview Heights: $223,185 9. Hilliard: $217,078 10. Gahanna: $199,546
Top 10 Average YTD Sales Price % Change Through December 2013 vs. 2012 1. Whitehall: +18.9% 2. Downtown: +14.0% 3. Minerva Park: +14.0% 4. Upper Arlington: +13.8% 5. Gahanna: +12.1% 6. New Albany: +9.8% 7. Reynoldsburg: +9.6% 8. Obetz: +9.0% 9. Worthington: +7.5% 10. Bexley: +5.8%
Average Sales Price December 2013 Urban: $218,764 Suburban: $233,048 Urban without Columbus: $227,832
Average Sales Price Change December 2012 vs. December 2012 Urban: -1.6% Suburban: +15.5% Urban without Columbus: -2.9%
Average Sales Price YTD Urban: $217,056 Suburban: $224,060 Urban without Columbus: $226,017
Average Sales Price % Change YTD Urban: +5.6% Suburban: +5.6% Urban without Columbus: +5.7%
Top 10 Fastest Selling Markets December 2013 (Based on Average # of Days for Listings to Sell) 1. Bexley: 26 2. Obetz: 42 3. New Albany: 47 4. Hilliard: 50 5. Clintonville: 51 6. Pataskala: 57 7. Gahanna: 58 8. Upper Arlington: 58 9. Reynoldsburg: 61 10. Grove City: 63
Average # of Days Before Sale, December 2013 Urban: 73.4 Suburban: 63.9 Urban without Columbus: 73.8
Average # of Days Before Sale YTD Urban: 61.3 Suburban: 62.9 Urban without Columbus: 60.9
Top 10 Lowest Market Housing Supplies (Based on # of Months to Sell all Listings) 1. Worthington: 1.2 2. Bexley: 1.8 3. Clintonville: 1.9 4. Hilliard: 1.9 5. Upper Arlington: 1.9 6. Grandview Heights: 2.1 7. Westerville: 2.1 8. Gahanna: 2.2 9. Minerva Park: 2.2 10. German Village: 2.3
A healthy housing supply is considered to be around 5 months. Anything less than 3 months is considered very low. All of the 21 areas I looked at were below 5 months, indicating a county-wide shortage. This shortage has only deepened over the last year, with December having the lowest number of available homes in nearly 15 years.
Average # of Months to Sell All Listings, December 2013 Urban: 2.7 Suburban: 3.2 Urban without Columbus: 2.6
Average % Change of Single-Family Home Sales December 2013 vs. December 2012 Urban: +28.5% Suburban: +14.3% Urban without Columbus: +30.8%
Average % Change of Single-Family Home Sales YTD vs. YTD 2012 Urban: +9.8% Suburban: +19.0% Urban without Columbus: +8.8%
Average % Change of Condo Sales December 2013 vs. December 2012 Urban: +20.5% Suburban: -4.2% Urban without Columbus: +20.5%
Average % Change of Condo Sales YTD vs. YTD 2012 Urban: +29.0% Suburban: +23.5% Urban without Columbus: +29.9%
