Tag Archives: Affordable housing markets

Housing Market Update July 2022

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Housing market update July 2022 Columbus, Ohio

For the Housing Market Update July 2022, it seems that whatever minor signs of a market slowdown all but disappeared in July, with strong price increases and shrinking supply almost across the board. All data comes from Columbus Realtors.

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 July 2022
1. New Albany: $1,001,000
2. New Albany Plain LSD: $836,500
3. German Village: $590,000
4. Powell: $582,500
5. Dublin: $557,000
6. Grandview Heights: $544,500
7. Bexley: $520,000
8. Worthington: $512,000
9. Dublin CSD: $510,000
10. Olentangy LSD: $500,000
11. Big Walnut LSD: $499,990
12. Upper Arlington CSD: $494,950
13. Granville LSD: $471,000
14. Buckeye Valley LSD: $460,000
15. Pickerington: $455,900
New Albany finally blew past the 1 million mark in July, almost 2x the next set of most expensive markets.

Top 15 Least Expensive Locations by Median Sales Price in July 2022
1. Valleyview: $163,000
2. Hamilton LSD: $184,500
3. Newark CSD: $200,000
4. Circleville CSD: $205,000
5. Lancaster CSD: $219,000
6. Miami Trace LSD: $234,900
7. Groveport Madison LSD: $240,000
8. Columbus CSD: $246,000
9. Jefferson LSD: $253,500
10. South Western CSD: $260,500
11. London CSD: $264,000
12. Columbus: $275,000
13. Grove City: $288,000
14. Reynoldsburg CSD: $297,500
15. Northridge LSD: $300,000
Only 2 metro markets remain below $200,000.

Overall Market Median Sales Price in July: $317,880
Based on the 10 Columbus Metro Area counties. This price was slightly lower than in May.

Top 15 Locations with the Highest Median Sales Price % Growth Between July 2021 and July 2022
1. Miami Trace LSD: +60.9%
2. Obetz: +36.8%
3. New Albany: +31.3%
4. Newark CSD: +31.1%
5. Pickerington: +29.0%
6. Teays Valley LSD: +26.4%
7. New Albany Plain LSD: +25.8%
8. Powell: +25.3%
9. Delaware CSD: +23.9%
10. German Village: +23.8%
11. Circleville CSD: +23.1%
12. Worthington: +22.8%
13. Westerville: +21.9%
14. Jefferson LSD: +21.9%
15. Marysville CSD: +20.2%
16. Canal Winchester CSD: +19.1%

Top 15 Locations with the Lowest Median Sales Price % Growth Between July 2021 and July 2022
1. Bexley: -15.4%
2. Short North: -13.0%
3. Northridge LSD: -9.5%
4. Hamilton LSD: -5.8%
5. Valleyview: -5.8%
6. Grove City: -2.3%
7. Sunbury: -0.6%
8. London CSD: +0.3%
9. Upper Arlington CSD: +0.5%
10. Buckeye Valley LSD: +2.2%
11. Columbus CSD: +4.75
12. Dublin: +5.1%
13. Downtown: +5.2%
14. Jonathan Alder LSD: +6.1%
15. South Western CSD: +6.3%
16. Beechwold/Clintonville: +6.5%
Downtown finally broke a string of negative months.

Overall Market Median Sales Price % Change July 2022 vs. July 2021: +13.1%
Based on 53 metro market locations.

Top 10 Locations with the Most New Listings in July 2022
1. Columbus: 1,278
2. Columbus CSD: 854
3. Olentangy LSD: 204
4. South Western CSD: 181
5. Dublin CSD: 159
6. Westerville CSD: 158
7. Hilliard CSD: 155
8. Pickerington LSD: 109
9. Gahanna Jefferson CSD: 100
10. Newark CSD: 79

Top 10 Locations with the Fewest New Listings in July 2022
1. Valleyview: 0
2. Jefferson LSD: 3
3. Minerva Park: 6
4. Lithopolis: 6
5. Obetz: 6
6. Grandview Heights: 7
7. Northridge LSD: 9
8. Granville LSD: 9
9. Miami Trace LSD: 10
10. New Albany: 10
11. Jonathan Alder LSD: 13
12. Sunbury: 14
13. Germany Village: 15
14. Hamilton LSD: 16
15. Whitehall: 16

Total New Listings in the Columbus Metro in July 2022: +3,239
Overall Metro New Listings % Change July 2022 vs July 2021: -20.3%
New listings fell strongly in July versus a year prior as the familiar story of demand far outpacing supply continued in the metro area.



Top 10 Fastest-Selling Locations by # of Days Homes Remain on the Market Before Sale in July 2022
1. Lithopolis: 3
2. Minerva Park: 4
3. Circleville CSD: 5
4. Gahanna: 6
5. Obetz: 6
6. Sunbury: 6
7. Canal Winchester CSD: 7
8. Hilliard: 7
9. Jonathan Alder LSD: 7
10. Pickerington: 7
11. Big Walnut LSD: 8
12. Dublin: 8
13. Hamilton LSD: 8
14. Hilliard CSD: 8
15. Newark CSD: 8
16. Northridge LSD: 8
17. Reynoldsburg CSD: 8
18. Upper Arlington CSD: 8
19. Valleyview: 8
20. Whitehall: 8
21. Worthington CSD: 8
22. Granville LSD: 9
23. Jefferson LSD: 9
24. Pickerington LSD: 9
25. New Albany LSD: 9
26. Powell: 9
27. Delaware CSD: 10
28. Lancaster CSD: 10
29. South Western CSD: 10
30. Westerville CSD: 10
31. Worthington: 10
32. Blacklick: 11
33. Columbus: 11
34. Dublin CSD: 11
35. Gahanna Jefferson CSD: 11
36. London CSD: 11
37. New Albany: 11
38. Beechwold/Clintonville: 12
39. Groveport Madison LSD: 12
Most local markets continue to have very low selling spread between them.

Top 10 Slowest-Selling Locations by # of Days Homes Remain on the Market Before Sale in July 2022
1. Short North: 48
2. German Village: 39
3. Downtown: 37
4. Teays Valley LSD: 35
5. Miami Trace LSD: 30
6. Grandview Heights: 19
7. Grove City: 16
8. Johnstown Monroe LSD: 16
9. Marysville CSD: 15
10. Pataskala: 15
11. Buckeye Valley LSD: 14
12. Columbus CSD: 14
13. Olentangy LSD: 14
14. Bexley: 13
15. Westerville: 13

Top 10 Locations with the Greatest % Decline of # of Days on the Market Before Sale July 2022 vs. July 2021
1. Big Walnut LSD: -63.6%
2. New Albany LSD: -57.1%
3. Buckeye Valley LSD: -53.3%
4. Dublin: -46.7%
5. New Albany: -45.0%
6. Minerva Park: -42.9%
7. Northridge LSD: -42.9%
8. Granville LSD: -40.0%
9. Circleville CSD: -37.5%
10. Hamilton LSD: -33.3%
11. Pickerington: -30.0%

Top 10 Locations with the Lowest % Decline of # of Days on the Market Before Sale July 2022 vs. July 2021
1. Teays Valley LSD: +600.0%
2. Johnstown Monroe LSD: +433.3%
3. German Village: +387.5%
4. Short North: +269.2%
5. Obetz: +200.0%
6. Valleyview: +166.7%
7. Gahanna Jefferson CSD: +120.0%
8. Grove City: +100.0%
9. Reynoldsburg CSD: +100.0%
10. Westerville: +85.7%
11. Blacklick: +83.3%

Total # of Days Homes Remain on the Market Before Sale Across the Metro Overall: 16.2
Overall Metro Days on Market % Change July 2022 vs July 2021: +45.9%
Homes spent much longer on the market across the metro than they did the year before, but the pace was still relatively fast.



Is North Linden the Best Neighborhood for a Starter Home?

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Is North Linden the best neighborhood for a starter home in Columbus? For many local residents, when they hear “Linden”, they may only think of negatives such as crime and neighborhood condition. Like many other parts of urban Columbus, the area is changing as development forces and population growth have begun pushing in from all sides, however.

With the Columbus market on fire, supply low and prices skyrocketing due to heavy demand, Linden homes are being looked at with a new perspective. Linden homes are some of the most affordable anywhere in Columbus, and while the neighborhood can be hit or miss to say the least, North Linden has begun to emerge as a destination for first-time home buyers.

Although the southern part of Linden was constructed before WWII, the vast majority of the remaining area was built in the 1950s and 1960s as former soldiers looked to start new lives.
Because of the era in which many of the homes were built, most are single-story ranches or Cape Cod style cottages. The square footage of many of these homes tends to be around 1000 square feet or less. Until recently, the small relative size, among other issues, kept buyers away. The aforementioned tight real-estate market has given these homes potential new life.

North Linden is generally the part of the neighborhood that is to the between I-71 and Cleveland Avenue west to east and between Hudson Avenue and Cooke Road south to north. Let’s take a look at some of the homes currently on the market in this area to get a feel for what is available there.

1541 Genessee Avenue: $25,000
Square Footage: 1,056
This pre-WWII home is an example of many in the area that need some level of renovations- in this home’s case- major renovations. For those willing to take on a challenge, these types of inexpensive purchases could be a consideration.
Best neighborhood for a starter home 1541 Gennessee Avenue

1130 Pauline Avenue: $185,000
Square Footage: 1,412
Built in 1955, this home is much more typical of the housing stock that exists within the neighborhood, but on the larger side. Unlike the home above, this one has been fully renovated and shows the potential of what they can become. This type of home represents the top of the market in terms of price in the neighborhood, showing just how affordable the area really is.
https://www.realtor.com/realestateandhomes-detail/1130-Pauline-Ave_Columbus_OH_43224_M37110-45745


2587 Azelda Street: $119,900
Square Footage: 1,045
This 1956 home is typical of many in the area. It doesn’t necessarily have a brand new renovation, but has been kept updated and maintained over the years, so it is in great condition for an individual or small family.
https://www.realtor.com/realestateandhomes-detail/2587-Azelda-St_Columbus_OH_43211_M49757-14142


Beyond the less expensive prices and variety of quality fixer-uppers and renovated starter homes, North Linden is also well-situated near popular areas such as Easton, Clintonville, OSU Campus and the Morse corridor, which is rich in locally-owned restaurants and markets that specialize in foods and products from Asia, Africa and the Middle East.
While there are many positives, some negatives might be higher crime in some spots- particularly closer to Cleveland Avenue- lack of walkability to amenities, and lower ranked schools within the Columbus district. As with any neighborhood, prospective residents must weigh the pros and cons according to their own lifestyles and needs. If one is a current Columbus resident looking to downsize, or a new family to Columbus looking to purchase their first home in an extremely difficult market to break into, North Linden does offer some opportunities that other neighborhoods do not.

The North Linden Area Commission and the
Linden Neighborhood links provide additional news and information on this up and coming area of Columbus.