That lack of inventory really shows up in the yearly % change chart. Few urban markets have increased year over year, as they have a much more limited supply of housing, even as demand for urban housing has increased.
Let’s see how this impacted prices.
While urban markets were not necessarily the most expensive compared to suburban, more of them were generally towards the top half of price increases last year.
Unfortunately, I have been unable to update this site for about a month, but I am back now and have quite a bit to add. First, I have the numbers for the local Housing Market Update February 2014. Due to changes in the way the numbers were gotten, January’s were not available. I still do them for 21 major areas of Franklin County, however, and here they are. As always, the data is from Columbus Realtors.
Top 10 February 2014 Sales Totals
1. Columbus: 535
2. Grove City: 39
3. Westerville: 36
4. Upper Arlington: 33
5. Dublin: 31
6. Hilliard: 30
7. Reynoldsburg: 29
8. Clintonville: 28
9. Gahanna: 23
10. Downtown: 14
Top 10 February 2014 Sales Increases over February 2013
1. Obetz: +200.0%
2. Westerville: +38.5%
3. Grove City: +14.7%
4. German Village: +10.0%
5. Hilliard: +7.1%
6. Gahanna: +0.0%
7. New Albany: +0.0%
8. Upper Arlington: +0.0%
9. Whitehall: +0.0%
10. Downtown: -6.7%
Top 10 Year-to-Date Sales Through February 2014
1. Columbus: 1,076
2. Dublin: 72
3. Grove City: 65
4. Clintonville: 62
5. Reynoldsburg: 59
6. Westerville: 59
7. Upper Arlington: 55
8. Hilliard: 54
9. Gahanna: 40
10. Canal Winchester: 29
Top 10 Year-to-Date Increases Through February 2014 Over 2013
1. Obetz: +300.0%
2. Pataskala: +20.8%
3. Worthington: +8.0%
4. German Village: +6.7%
5. Reynoldsburg: +3.5%
6. Grove City: +3.2%
7. Westerville: -1.7%
8. Hilliard: -1.8%
9. Clintonville: -6.1%
10. Columbus: -6.8%
Average Sales February 2014
Urban: 60.1
Suburban: 22.9
Urban without Columbus: 12.6
Average % Change February 2014 vs. February 2013
Urban: -1.1%
Suburban: -7.1%
Urban without Columbus: -0.2%
Average YTD Sales Through February 2014
Urban: 120
Suburban: 45.1
Urban without Columbus: 24.4
Average YTD % Change YTD Through February 2014
Urban: +11.8%
Suburban: -9.4%
Urban without Columbus: +13.7%
Top 10 Average Sales Price February 2014
1. New Albany: $641,524
2. Bexley: $460,307
3. Upper Arlington: $378,852
4. Dublin: $334,967
5. Grandview: $318,667
6. Downtown: $302,720
7. German Village: $232,014
8. Worthington: $227,422
9. Westerville: $209,149
10. Hilliard: $199,724
Top 10 Average Sales Price % Change February 2014 vs. February 2013
1. Grandview: +68.6%
2. Pataskala: +47.1%
3. Upper Arlington: +46.5%
4. Bexley: +46.1%
5. Pickerington: +28.6%
6. Westerville: +25.9%
7. Obetz: +25.0%
8. Reynoldsburg: +19.9%
9. Canal Winchester: +17.6%
10. Hilliard: +13.1%
Top 10 Average Sales Prices YTD Through February 2014
1. New Albany: $515,036
2. Bexley: $418,680
3. Upper Arlington: $343,026
4. Dublin: $326,231
5. Downtown: $314,042
6. German Village: $309,343
7. Grandview: $251,136
8. Worthington: $231,133
9. Westerville: $205,636
10. Hilliard: $200,965
Top 10 Average YTD Sales Price % Change Through February 2014 vs. 2013
1. Pataskala: +36.2%
2. Whitehall: +35.5%
3. Bexley: +31.7%
4. Grandview: +26.1%
5. German Village: +22.2%
6. Downtown: +20.0%
7. Pickerington: +18.3%
8. Westerville: +15.8%
9. Canal Winchester: +15.2%
10. Reynoldsburg: +15.1%
Average Sales Price February 2014
Urban: $228,596
Suburban: $235,812
Urban without Columbus: $239,422
Average Sales Price Change February 2014 vs. February 2013
Urban: +15.9%
Suburban: +17.1%
Urban without Columbus: +16.9%
Average Sales Price YTD
Urban: $222,639
Suburban: $220,917
Urban without Columbus: $232,886
Average Sales Price % Change YTD
Urban: +13.0%
Suburban: +13.3%
Urban without Columbus: +13.0%
Top 10 Fastest Selling Markets February 2014 (Based on Average # of Days for Listings to Sell)
1. Grandview: 39
2. Clintonville: 57
3. Obetz: 62
4. Worthington: 70
5. Pataskala: 74
6. Hilliard: 78
7. Upper Arlington: 83
8. Westerville: 88
9. Pickerington: 89
10. Columbus: 91
Top 10 Fastest Selling Markets YTD
1. Worthington: 50
2. Grandview: 58
3. Pickerington: 60
4. Clintonville: 64
5. Obetz: 64
6. Hilliard: 66
7. Whitehall: 66
8. Upper Arlington: 73
9. Gahanna: 85
10. Westerville: 87
Average # of Days Before Sale, February 2014
Urban: 86.2
Suburban: 104.4
Urban without Columbus: 85.7
Average # of Days Before Sale YTD
Urban: 81.1
Suburban: 89.1
Urban without Columbus: 80.4
Top 10 Lowest Market Housing Supplies (Based on # of Months to Sell all Listings)
1. Worthington: 1.0
2. Hilliard: 1.6
3. Upper Arlington: 1.7
4. Westerville: 1.7
5. Clintonville: 1.8
6. Gahanna: 1.9
7. German Village: 1.9
8. Grandview: 2.0
9. Obetz: 2.2
10. Bexley and Dublin: 2.4
A healthy housing supply is considered to be around 5 months. Anything less than 3 months is considered very low.
Average # of Months to Sell All Listings, February 2014
Urban: 2.3
Suburban: 2.9
Urban without Columbus: 2.3
Average % Change of Single-Family Home Sales February 2014 vs. February 2013
Urban: +15.0%
Suburban: -7.7%
Urban without Columbus: +17.0%
Average % Change of Single-Family Home Sales YTD vs. YTD 2013
Urban: +3.0%
Suburban: -10.3%
Urban without Columbus: +4.0%
Average % Change of Condo Sales February 2014 vs. February 2013
Urban: -21.0%
Suburban: +7.0%
Urban without Columbus: -21.8%
Average % Change of Condo Sales YTD vs. YTD 2013
Urban: +20.6%
Suburban: +23.7%
Urban without Columbus: +23.0%
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 Totals
1. Columbus: 657
2. Westerville: 47
3. Dublin: 45
4. Clintonville: 42
5. Upper Arlington: 41
6. Grove City: 39
7. Reynoldsburg: 38
8. Gahanna: 31
9. Hilliard: 22
10. Pickerington: 18
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
Top 10 Fastest Selling Markets YTD
1. Worthington: 42
2. Upper Arlington: 46
3. Grandview Height: 49
4. Clintonville: 50
5. Westerville: 53
6. Hilliard: 54
7. Bexley: 57
8. Gahanna: 59
9. Dublin: 63
10. Grove City: 64
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%
2013 was a pretty significant year for Columbus, if only because it saw its busiest residential developmentyear in and around the urban core in many years. Here are the highlights of some of the biggest 2013 residential projects.
1. The South Campus High Rise and Addition Project
# of New Units: 360
Project Cost: $171.6 Million
Project Height: 7-8 Stories in Multiple Buildings
Some might suggest that this isn’t strictly a residential project because it was student housing. However, I disagree with that. The projects added significant additions to already existing Park, Stradley, Steeb and Smith Halls by connecting the pairs together with what essentially amounted to a brand new building stuck in-between. It also involved significant renovations to other residential buildings in South Campus. This was the first part of a major renovation and expansion project for housing on OSU’s campus.
Some links to this project complete with site maps and construction photos:
http://fod.osu.edu/projects/s_res/2010_7-26.htm
http://www.columbusunderground.com/forums/topic/south-campus-high-rise-additionrenovation
2. HighPoint at Columbus Commons
# of New Units: 302
Project Cost: $50 Million
Project Height: 6 Stories in 2 Buildings
HighPoint was a rather unexpected surprise for Downtown. When Columbus Commons was being constructed, the plan called for residential buildings running along High Street on the west side of the park. Unfortunately, that plan was not supposed to happen for perhaps a decade or more, depending on development interests. Within a year of the completion of the park, however, HighPoint was being proposed. While not exactly the most inspired design or preferred height for such a prominent location Downtown, the projects potential 450+ residents will greatly help the neighborhood’s goal of increased vitality and 24-hour activity. In fact, it may not be too much to assume that this project has encouraged others, such as the 12-story 250 High Project and LC’s double 8-story tower project, both of which will begin construction soon just across the street from HighPoint and the park. Collectively, they will add, at minimum, over 650 new residents.
Links for the project:
http://www.highpointcolumbus.com/columbus/highpoint-on-columbus-commons/photos/
3. Liberty Place, Phase II
Address: 250 Liberty Street
# of New Units: 207
Project Cost: $25-$30 Million
Project Height: 4 Stories
Liberty Place, in the Brewery District, was completed in 2006, the last of a slew of development projects in the Brewery District beginning in the 1990s and came in the middle of a relative quiet period that began when the Arena District stole some of the neighborhoods momentum. That momentum has returned in recent years as urban living has gained significant traction in public opinion. Phase II of Liberty Place was supposed to have been built years ago, but the recession and the uncertainty regarding the exact layout of the rebuilt I-70/I-71 split which runs past the site put the project on hold. All told, Liberty Place now has 342 units.
Links for the project:
http://www.columbusunderground.com/forums/topic/phase-2-of-liberty-place-apartments
http://thelibertyplaceapartments.com/
4. Tribeca
Address: 700 West Third Avenue
# of New Units: 205
Project Cost: Unknown
Project Height: 4 Stories
Tribeca, from Edwards Communities, was built along Third Avenue in the 5thxNW neighborhood. While adding significant density to the area, the project is mostly known for its strange layout. Dubbed the “Fortress” or the “prison”, the project has a long, blank wall along Third Avenue with tower-like structures along it, resembling the fortifications of a prison. The ugly design and lack of interaction with Third because of this layout caused the project to receive a lot of criticism.
A link to the project, the criticism and photos:
http://www.columbusunderground.com/forums/topic/gowdy-field-development
5. Lennox Flats
Address: Kinnear Road, Lennox Town Center
# of New Units: 194
Project Cost: Unknown
Project Height: 3 Stories
Lennox Flats was built over two phases, the first with 92 units and the second with 102. Built in a mostly vacant lot just to the west of Lennox Town Center (across the railroad tracks), these were built in modern-styles and were targeted at students from OSU.
Link with photos:
http://www.columbusunderground.com/phase-two-of-lennox-flats-wrapping-up-this-summer-bw1
6. 600 Goodale
Address: 600 West Goodale Street
# of New Units: 174
Project Cost: Unknown
Project Height: 5 Stories
600 Goodale is likely the most strangely located new project of 2013. It was built on a small strip of land located north of Goodale Street across from White Castle’s HQ building. The location is strange because the land is bordered by the Olentangy River on the west and a highway exit ramp to the north and east sides. In fact, the site sits on a section of land between 315, 670 and major ramps for both to the north. The land is not directly connected to any major neighborhood. Despite the strange location, the modern building was, at last count, 96% leased.
Photos of the project:
http://www.columbusunderground.com/construction-to-wrap-soon-on-600-goodale-bw1
So those were the top 6 largest projects from 2013. More than 2,200 total units were completed in the urban areas of Columbus.
But what’s coming for 2014? Here are the top 5.
1. Jeffrey Park Phase 1
Address: E. 1st Avenue and N. 4th Street, Italian Village
# of New Units: 334
Project Cost: $180 Million+ For all phases.
Project Height: 4 Stories
The Jeffrey Manufacturing site has long been planned for redevelopment. It is, by far, the largest undeveloped site in Italian Village or anywhere in the Short North. Previous plans from the early-mid 2000s fell through, but were revived by a new developer in recent years. The first phase calls for the completion of a mix of townhomes and apartments in a mix of styles. A community center is also planned with a gym and pool. Although this project was supposed to start in the fall of 2013, calls are now for it to begin before winter is over. This may delay the finish for this project into 2015, but for now, it’s still the biggest project for 2014. The entire Jeffrey site will eventually have more than 1,300 new units.
Photos and project information:
http://www.columbusunderground.com/jeffrey-park-will-add-over-1300-new-residences-to-italian-village
2. Taylor House
Address: 5005 Olentangy River Road
# of New Units: 329
Project Cost: Unknown
Project Height: 4 Stories
This project along Bethel Road will go into the site of a former K-Mart. Construction began over the fall and should wrap up toward the end of the year.
Renderings and more information:
http://www.bizjournals.com/columbus/news/2013/09/24/former-kmart-site-at-olentangy-and.html
3. View on 5th
Address: 965 West 5th Avenue
# of New Units: 285
Project Cost: $50 Million
Project Height: 6 Stories
The View on 5th, in 5thxNW, is a 2-building complex along 5th and Holly Avenues. The 6-story building along 5th will contain 153 apartments with ground-floor retail, while the Holly Avenue building would be 3-stories and contain 132 units. The project is scheduled for completion this coming summer.
Link with info and renderings:
http://www.bizjournals.com/columbus/print-edition/2013/06/28/top-end-housing-for-w-5th.html
4. Berkeley House
Address: Bethel Road and Riverside Drive
# of New Units: 256
Project Cost: Unknown
Project Height: 4-5 Stories
Berkeley House is being built by the same company as Taylor House, only on opposite ends of Bethel Road. This will be a mixed-use complex featuring apartments and offices. There was some controversy surrounding this project as it sought to demolish a small stone house from around 1808. Unfortunately, no one seemed to realize the historical significance or age of the structure until the project was set to begin construction. The lack of time made it impossible to raise the money to move the house, so it was demolished. The Upper Arlington Historical Society saved the stone from the house and plans to build some type of marker with it.
Unfortunately, I have not seen any renderings for this project yet, but it has begun construction.
5. Neighborhood Launch
Address: East Long Street, Downtown
# of New Units: 130
Project Cost: Unknown
Project Height: 5 Stories
Neighborhood Launch is an ongoing project Downtown. About 200 units have already been completed along and near the Gay Street Corridor. The project is continuing with the first of 2 buildings, each containing 130 units, along Long Street. The first of these 2 should be complete later this year, with the 2nd beginning construction over the summer.
Renderings can be found here:
http://www.columbusunderground.com/neighborhood-launch-to-build-260-new-downtown-apartment-units
So there you have it. 2013′s and 2014′s largest projects. These, of course, represent just a small sample of what’s being built.
November home sales were down in Central Ohio for the 2nd straight month according to the Housing Market Update November 2013 data from Columbus Realtors. One main reason seems to be the culprit: There just aren’t enough houses to go around. Hot urban markets simply have a limited stock of homes with very few going up for sale at any one time, and builders still have not been building very much since the recession. Combined, the total number of homes for sale has declined to levels not seen since the early 2000s. This explains why most markets are still seeing gains in home prices while overall sales have fallen from the year before.
The bottom line is that demand is outpacing supply, and that situation doesn’t look to change anytime soon, especially in the urban core.
Here are the stats for the 21 major areas of Franklin County that I look at housing stats for.
Top 10 November 2013 Sales Totals
1. Columbus: 701
2. Dublin: 52
3. Clintonville: 49
4. Gahanna: 38
5. Upper Arlington: 38
6. Hilliard: 36
7. Reynoldsburg: 36
8. Grove City: 35
9. Westerville: 31
10. Canal Winchester: 20
Top 10 November 2013 Sales Increases over November 2012
1. Downtown: +50.0%
2. Grandview Heights: +14.3%
3. Clintonville: +6.5%
4. Hilliard: +5.9%
5. Minerva Park: +0.0%
6. New Albany: +0.0%
7. Obetz: +0.0%
8. Gahanna: -2.6%
9. Reynoldsburg: -5.3%
10. Grove City: -5.4%
Top 10 Year-to-Date Sales Through November 2013
1. Columbus: 9,561
2. Dublin: 747
3. Upper Arlington: 678
4. Clintonville: 656
5. Westerville: 580
6. Grove City: 568
7. Hilliard: 533
8. Gahanna: 494
9. Reynoldsburg: 466
10. Pickerington: 291
Top 10 Year-to-Date Increases Through November 2013 Over 2012
1. Minerva Park: +46.2%
2. Pataskala: +31.3%
3. Gahanna: +30.3%
4. Reynoldsburg: +28.0%
5. Whitehall: +27.3%
6. Hilliard: +27.2%
7. Clintonville: +24.2%
8. Grove City: +23.7%
9. Westerville: +23.4%
10. Bexley: +22.5%
10. Downtown: +22.5%
Average Sales November 2013
Urban: 79
Suburban: 28.7
Urban without Columbus: 16.8
Average % Change November 2013 vs. November 2012
Urban: -7.1%
Suburban: -11.6%
Urban without Columbus: -6.5%
Average YTD Sales Through November 2013
Urban: 1,097.7
Suburban: 435.9
Urban without Columbus: 251.4
Average YTD % Change YTD Through November 2013
Urban: +14.9%
Suburban: +19.9%
Urban without Columbus: +14.4%
Top 10 Average Sales Price November 2013
1. New Albany: $614,687
2. Bexley: $456,365
3. Dublin: $344,341
4. Upper Arlington: $326,913
5. Downtown: $302,464
6. Worthington: $296,328
7. German Village: $271,656
8. Grandview Heights: $257,001
9. Pataskala: $196,158
10. Hilliard: $193,756
Top 10 Average Sales Price % Change November 2013 Over November 2012
1. Worthington: +59.6%
2. Pataskala: +38.0%
3. Downtown: +36.7%
4. Bexley: +32.5%
5. Obetz: +30.8%
6. New Albany: +28.6%
7. Dublin: +21.6%
8. Whitehall: +10.1%
9. Minerva Park: +10.0%
10. Pickerington: +10.0%
Top 10 Average Sales Prices YTD Through November 2013
1. New Albany: $541,931
2. Upper Arlington: $364,369
3. Bexley: $351,282
4. Dublin: $335,164
5. German Village: $297,832
6. Downtown: $286,470
7. Worthington: $249,979
8. Grandview Heights: $226,458
9. Hilliard: $215,966
10. Gahanna: $198,612
Top 10 Average YTD Sales Price % Change Through November 2013 vs. 2012
1. Whitehall: +17.2%
2. Minerva Park: +17.1%
3. Downtown: +15.5%
4. Upper Arlington: +13.0%
5. Obetz: +12.3%
6. Gahanna: +11.6%
7. Reynoldsburg: +8.5%
8. New Albany: +8.3%
9. Worthington: +8.1%
10. Bexley: +4.9%
Average Sales Price November 2013
Urban: $227,811
Suburban: $229,942
Urban without Columbus: $238,166
Average Sales Price Change November 2012 vs. November 2012
Urban: +12.5%
Suburban: +6.0%
Urban without Columbus: +13.7%
Average Sales Price YTD
Urban: $217,072
Suburban: $223,394
Urban without Columbus: $226,041
Average Sales Price % Change YTD
Urban: +6.3%
Suburban: +4.9%
Urban without Columbus: +6.6%
Top 10 Fastest Selling Markets November 2013 (Based on Average # of Days for Listings to Sell)
1. Grandview Heights: 15
2. Westerville: 38
3. Clintonville: 40
4. Upper Arlington: 44
5. Hilliard: 47
6. Bexley: 49
7. Worthington: 57
8. Whitehall: 61
9. Dublin: 62
10. Minerva Park: 65
10. Obetz: 65
Top 10 Fastest Selling Markets YTD
1. Worthington: 40
2. Grandview Heights: 44
3. Upper Arlington: 45
4. Clintonville: 50
5. Westerville: 52
6. Hilliard: 54
7. Bexley: 58
8. Gahanna: 59
9. Dublin: 62
10. Grove City: 64
Average # of Days Before Sale, November 2013
Urban: 57.4
Suburban: 89.4
Urban without Columbus: 56.3
Average # of Days Before Sale YTD
Urban: 60.6
Suburban: 62.7
Urban without Columbus: 60.2
Top 10 Lowest Market Housing Supplies (Based on # of Months to Sell all Listings)
1. Worthington: 1.6
2. Upper Arlington: 2.1
3. Hilliard: 2.2
4. Minerva Park: 2.2
5. Bexley: 2.3
6. Clintonville: 2.4
7. Westerville: 2.4
8. Gahanna: 2.6
9. German Village: 2.6
10. Grandview Heights: 2.6
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.
Average # of Months to Sell All Listings, November 2013
Urban: 2.8
Suburban: 3.6
Urban without Columbus: 2.7
Average % Change of Single-Family Home Sales November 2013 vs. November 2012
Urban: -1.7%
Suburban: -12.6%
Urban without Columbus: -0.5%
Average % Change of Single-Family Home Sales YTD vs. YTD 2012
Urban: +9.3%
Suburban: +19.4%
Urban without Columbus: +8.2%
Average % Change of Condo Sales November 2013 vs. November 2012
Urban: +23.3%
Suburban: +52.8%
Urban without Columbus: +26.6%
Average % Change of Condo Sales YTD vs. YTD 2012
Urban: +27.6%
Suburban: +26.4%
Urban without Columbus: +28.3%