Interesting year and interesting stats! 43232 is composed of parts of east and southeast Columbus, with most homes serviced by the Columbus schools but some parts are in the Groveport Madison school district. Here is what I found:
In 2009 this area reported 372 sold houses involving real estate agents. While that is not all the solds, it generally gives us good data to work with. This compares with 2008 when there were 409 total sold homes. In 2009, the average home that sold was 3 bedrooms, 1 full bath, and about 1388 square feet of living space, which is almost the same as 2008.
The average sold price in 2009 was $68,665 and it took 80 days to sell. The average homeowner negotiated 4.1% of his asking price. In 2008, the average home sold for $77,423 and took 89 days to sell and home sellers negotiated 5.8% off their asking prices.
In this zip code the average home sold for 11.3% less in 2009 than in 2008, but sold faster and there was less negotiating. My thoughts are that the REO and foreclosures have lowered the overall sales prices for this area.
For 2010? There are still a lot of bank owned homes to be sold and until that clears up there will still be pressure for lower prices, although I feel that the prices will climb a bit in 2010 and that this area has hit bottom. The tax credit will provide a large stimulus for this area as this zip code traditionally has a lot of first time buyers, and the overall low prices will encourage many to buy as it will be less than renting.
If you are thinking of selling, you need to make your home look its best. If a buyer needs to do work on your home if they buy it, they will just buy a bank-owned home and get a much lower price. Make sure your home is freshly painted with no work needed when it hits the market.
Comments(0)