In June, I recorded the 10-yr average of home prices for Delaware County through May. Now that we're through the summer months, I've updated it.
This chart shows the average price for single family homes that were sold between Jan 1 thru Aug 31 for each of the years. The red bars represent those average prices that are equal to or higher than the current average price this year in 2008. People who purchased their home in the "red bar years" may have difficulty selling their home for more than they paid for it.
The striped bars represent the averages for Southern Delaware County. The solid colors represent the northern half of the county including the city of Delaware. The difference between the '98 average and the '08 average for the southern part of the county is a 27% increase. For the northern portion, it's a 30% increase. Those are respectable conservative growth rates for a 10-yr period.
This next chart below shows the number of homes sold in both segments of Delaware County. As you can see, there has been substantial growth in southern Delaware County. Keep in mind, this data only includes sales recorded in the Columbus Board of Realtors® MLS system. It does not include new-builds purchased directly from the builders unless the homes were spec homes.
As both these charts show, both prices and units sold are substantially higher than they were 10 years ago. Yes, there is a slight decline for this year, but it IS slight. It also reinforces the need for sellers to have their homes priced right to achieve a sale.
If you would like more information on the Central Ohio area,
then I recommend these links to pages on my web site or blog: |
This post and photos are the property of Elaine Reese, Real Living HER, Worthington Ohio 43085.All material and photos are considered copyrighted and may not be used, copied or stolen by any other parties. Plagiarism is against the law!
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