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%