Although 2009 was another challenging year for Ohio Real Estate it shaped up to be slightly better than 2008. The first time home buyers tax credit helped many central Ohioans realize their dreams of home ownership. Below is a quick snapshot that tells us a little about the typical 2009 central Ohio home buyer.
- 47% Were First Time Home Buyers
- Median household income for first time buyers was $62,800
- Median household income for repeat buyers was $89,700
- 20% of the buyers were single females
- 10% were single males
- Median age of First time buyer was 28 years
- Median age of repeat buyers was 45 years
- Typical Home buyer searched for 10 weeks and looked at 14 homes
- 83% Purchase Single Family Detached Homes
- Typical Square Footage of Home was 1800 sq. ft.
- 59% Said that First time Tax Credit was a Factor in Purchase
- 81% of Buyers used a Real Estate Agent to purchase their home
- The median purchase price for a central Ohio home was $165,000 compared to $185,000 nationwide.
With the extension and expansion of the first time home buyers tax credit there continues to be optimism that 2010 will be a better real estate year. If you are ready to explore your real estate options please give me a call at 614-273-6406 or email me at Vanessa.simmons@realliving.com.
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