In today’s cool link edition, we have a new study by the site Demographia that offers a housing affordability comparison for more than 90 markets across 8 different countries/places around the world. What is different about this study is that the comparison is done including a housing cost to income ratio, meaning that it takes into account local incomes versus housing prices. That makes it much more accurate in terms of an overall market comparison.
Columbus ranks fairly well, overall, along with Ohio’s other 2 main markets in Cincinnati and Cleveland. Despite all the local complaints about housing becoming unaffordable, relative to just about everywhere else in the US, Ohio markets are actually inexpensive. That doesn’t mean that housing costs aren’t rising quickly or that more and more people aren’t being priced out of buying and owning a home, because that’s definitely happening and certainly an increasing problem. It just means that the problem isn’t quite as bad locally as it is in most other places.
The recent housing market update January 2017 edition information 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 January 2017 1. New Albany: $535,000 2. New Albany Plain LSD: $397,450 3. German Village: $376,000 4. Powell: $354,950 5. Dublin: $343,600 6. Granville CSD: $330,000 7. Bexley: $325,000 8. Upper Arlington CSD: $319,500 9. Olentangy LSD: $315,000 10. Big Walnut LSD: $306,250 11. Dublin CSD: $271,500 12. Worthington: $270,000 13. Buckeye Valley LSD: $259,000 14. Sunbury: $253,000 15. Downtown: $243,750
Top 15 Least Expensive Locations by Median Sales Price in January 2017 1. Obetz: $80,100 2. Hamilton LSD: $80,100 3. Whitehall: $85,950 4. Newark CSD: $86,900 5. Lancaster CSD: $103,000 6. Jefferson LSD: $123,000 7. London CSD: $124,000 8. Groveport Madison LSD: $125,900 9. Reynoldsburg CSD: $125,950 10. Columbus CSD: $129,900 11. South-Western CSD: $131,000 12. Columbus: $140,026 13. Jonathan Alder LSD: $150,000 14. Minerva Park: $159,500 15. Grove City: $160,950
Overall Market Median Sales Price in January 2017: $160,368 Median Sales Price Change January 2016-January 2016: +$3,172
Top 15 Locations with the Highest Median Sales Price % Growth Between January 2016 and January 2017 1. Whitehall: +69.5% 2. Circleville CSD: +64.9% 3. Sunbury: +63.0% 4. Jefferson LSD: +53.5% 5. Big Walnut LSD: +44.1% 6. Canal Winchester CSD: +40.9% 7. Westerville: +29.8% 8. Westerville CSD: +27.3% 9. Powell: +25.4% 10. Pataskala: +24.0% 11. Olentangy LSD: +23.5% 12. Gahanna Jefferson CSD: +21.8% 13. Grandview Heights: +21.2% 14. Granville CSD: +20.0% 15. Pickerington: +17.7%
Top 15 Locations with the Lowest Median Sales Price % Growth Between January 2016 and January 2017 1. London CSD: -53.5% 2. Obetz: -38.3% 3. Hamilton LSD: -27.1% 4. Jonathan Alder LSD: -25.2% 5. Buckeye Valley LSD: -23.0% 6. Reynoldsburg CSD: -18.7% 7. Hilliard: -17.7% 8. Lancaster CSD: -17.6% 9. Grove City: -15.3% 10. Dublin CSD: -12.8% 11. Johnstown-Monroe LSD: -10.8% 12. Upper Arlington CSD: -8.5% 13. Newark CSD: -8.1% 14. Dublin: -7.1% 15. South-Western CSD: -6.4%
Overall Market Median Sales Price % Change January 2016-January 2017: +2.0%
Top 10 Locations with the Most New Listings in January 2017 1. Columbus: 829 2. Columbus CSD: 544 3. South-Western CSD: 136 4. Olentangy LSD: 122 5. Westerville CSD: 100 6. Hilliard CSD: 94 7. Dublin CSD: 89 8. Worthington CSD: 66 9. Dublin: 64 10. Pickerington LSD: 60
Top 10 Locations with the Fewest New Listings in January 2017 1. Valleyview: 0 2. Lithopolis: 1 3. Minerva Park: 2 4. Sunbury: 2 5. Obetz: 3 6. Johnstown Monroe LSD: 5 7. Jefferson LSD: 8 8. Jonathan Alder LSD: 8 9. German Village: 8 10. Hamilton LSD: 8 11. Northridge LSD: 9
Total New Listings in the Columbus Metro in January 2017: 2,002 Overall Metro New Listings % Change January 2016-January 2017: -1.9%
Top 10 Fastest-Selling Locations by # of Days Homes Remain on the Market Before Sale in January 2017 1. Obetz: 18 2. Sunbury: 21 3. Pataskala: 22 4. Jefferson LSD: 26 5. Gahanna: 28 6. Minerva Park: 28 7. Delaware CSD: 29 8. Bexley: 31 9. Hilliard CSD: 31 10. Pickerington: 31 11. Worthington CSD: 31
Top 10 Slowest-Selling Locations by # of Days Homes Remain on the Market Before Sale in January 2017 1. Dublin: 96 2. New Albany: 93 3. Dublin CSD: 82 4. Powell: 80 5. Granville CSD: 79 6. Olentangy LSD: 78 7. Downtown: 77 8. Grandview Heights: 76 9. New Albany Plain LSD: 68 10. Canal Winchester CSD: 67 11. New Albany CSD: 65 12. Upper Arlington CSD: 62 13. Circleville CSD: 61 14. Johnstown Monroe LSD: 61 15. Hamilton LSD: 60
# of Days For-Sale Homes Remain on the Market Before Sale Across the Metro Overall: 51.6 Change in # of Days Before Sale January 2016-January 2017: -22.0
Top 10 Locations with the Greatest % Decline of # of Days on the Market Before Sale January 2016-January2017 1. Obetz: -89.2% 2. Pataskala: -64.5% 3. Whitehall: -64.3% 4. Circleville CSD: -56.1% 5. Gahanna: -53.3% 6. Grove City: -49.2% 7. Delaware CSD: -44.2% 8. Bexley: -40.4% 9. Pickerington LSD: -39.7% 10. Worthington CSD: -38.0%
Top 10 Locations with the Lowest % Decline of # of Days on the Market Before Sale January 2016-January 2017 1. German Village: +161.1% 2. Worthington: +123.8% 3. Powell: +77.8% 4. Grandview Heights: +46.2% 5. Big Walnut LSD: +41.5% 6. Minerva Park: +40.0% 7. Jonathan Alder LSD: +37.8% 8. Canal Winchester CSD: +31.4% 9. Marysville CSD: +28.3% 10. Johnstown Monroe LSD: +27.1%
% Change for the # of Days Homes Remain on the Market Before Sale Across the Metro Overall: -29.9%
