February 2016 Delaware Market Report
Real estate market data for Delaware, OH provided by Jim West of Keller Williams Capital Partners.
Delaware Ohio Home Prices
Home prices in Delaware and central Ohio have hit an all time high and don’t expect things to slow down anytime soon. If you are considering buying a home you can still find deals on a house in Delaware but having a good real estate agent who understands the market is a must. Don’t wait on the sidelines for too long, most of Delaware's listings are selling within a few days of hitting the market. As you can see from the graph below, listings are not selling exactly for asking price. To make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Delaware home on which you are making an offer.
If you are interested in how much current inventory is on the market in Delaware you can find that information by clicking on the link. Our inventory is at its lowest point since 2000. This low inventory will suggest that homes are not staying on the market for very long. Currently in this area of Delaware, homes have a median time of 44 days on the market before they sell, a phenomenal decrease of 44.3% from February 2015!. This would suggest that sellers are in a great position to make stronger counters to offers on a home.
Sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers. Low inventory in Delaware has multiple offers coming in on homes similar to what we saw back in 2005. I wouldn't expect home prices to run up quite as fast as they did back then, as banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse. But low inventory is one indicator that prices should continue to rise. However, inventory is down an incredible 28.1% from February 2015 & 11.5% from the previous month. Please see the chart below for current inventory level.
P.S. We try to update the Delaware Market Report every month. Please let us know if you have any questions.
Points of Interest:
- 27 closed sales
- 1.4 months supply of inventory
- 49 new listings
- $150,000 median sales price
- $156,798 average sales price. Down 3.4% from February 2015
Delaware Ohio Real Estate Report Summary 
The median list price at time of sale in January for single family homes in Delaware was $158,900.
The median list price decreased by 10.0% from the same month last year.
The sales price per square foot for listings in this area is $95.33, up 5.2% from February 2015!
The median sale price in December for single family homes is $150,000. The median sale price was down by 9.8% from last month.
The sales price in this area for February 2016 was $156,978, down 3.4% from February 2015.
Find Homes for Sale in Delaware Ohio
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