The end of the year results are in, and while the news media has talked greatly about "the bubble", we don't have that problem here in central Ohio. The past few years, our prices have steadily kept up with inflation or slightly over that rate. "The bubble" refers to areas - mostly along the coasts and in Florida - that enjoyed really heftly price increases each of the past few years, fueled by speculators. Not so here!

Central Ohio has experienced a Buyer's Market during 2006, like most other places. If you remember your Econ 101 course in college, it was the Supply & Demand theory in action. There were more homes for sale, both new and existing, than there were buyers to buy. The inching up of interest rates plus, the news media, caused that. Buyers were hesitant to buy, thinking that they should wait until the prices fell. That may have been a good strategy for the "bubble" markets, but by waiting the buyers here missed some good opportunities at lower interest rates.

Back to the topic at hand. Powell is serviced by the Olentangy School District, a very popular district and growing rapidly with all the new development in this part of southern Delaware County. The school district is essentially split in half with Rt 23 that cuts through the district vertically. There is a difference in prices and terrain for the west side of the district (Powell area) vs the east half (Lewis Center). On average, prices are higher for the Powell area vs the Lewis Center area, but naturally there are exceptions.

For 2006, the average home price for the Powell area (southwest Delaware County) was $421,972, with 495 homes being sold. The highest priced home to be sold cost $1,995,000. The average price for all of Delaware County was $307,050 with 2296 homes sold.

Powell has some wonderful subdivisions but the oldest communities were developed in the late 80's so homes are relatively recent. Many of the homes have been built since 2000. Average prices for the larger subdivisions are:

• Campden Lakes: $887,166
• Deep Run/Riverbend: $771,987
• Wedgewood: $655,023
• Golf Village: $422,316
• Ashmoore: $384,816
• Bartholomew Run: $375,700
• Canterbury: $318,636
• Big Bear Farms: $308,565
• Olentangy Ridge: $299,918
• Scioto Reserve: $293,947
• Lakes of Powell: $283,480
• Grandshire: $275,285
  

• Average central Ohio home prices by school district - updated monthly
• Average central Ohio home prices by suburb subdivisions - updated monthly
• View a list of Central Ohio new home builders
• Powell Ohio area map showing key subdivisions, zip codes, growth area for new development
• Lewis Center Ohio area map showing key subdivisions, zip codes, growth area for new development
• Dublin Ohio area map showing key subdivisions, zip codes, growth area for new development
• Worthington Ohio area map
• Hilliard Ohio area map
• ElaineReese.com for lots of helpful info for home buyers and sellers
• ReesesPiecesOfRealEstate.com (my blog) for more personalized info for buyers & sellers
• View videos of Elaine's listings