The Columbus Board of REALTORS ® (CBR) supplied the local media with July 2009 sales. In an email to association members the board said
"The following will be released to the media this morning, Aug. 21, 2009"
How is the Columbus Ohio real estate maket doing? According to CBR:
"Home prices, sales, inventory continue positive trends, Key indicators point to increased stability in central Ohio market"
CBR reported over 2000 residential properties sold.
There was 7.23 months of inventory, doww from a year ago.
The 7.23 months supply of homes is for the area served by the Columbus Board of REALTORS multiple listing service (MLS). The Columbus Board of REALTORS® Multiple Listing Service serves all of Franklin, Delaware, Fayette, Madison, Morrow and Union counties and parts of Champagne, Clark, Licking, Fairfield, Knox, Logan, Marion and Pickaway counties.
The board released the sold figure for July: "more than 2,000 homes sold"
The actual number according to a table on the CBR site was 2057, which is down 2.9% from July 2009.
"The month’s supply number for July continued to remain favorable at 7.23, meaning that if no new homes were added to the market, it would take slightly more than seven months to sell all remaining inventory."
According to the CBR "A market is typically considered balanced with around a 6.5 to 7 month supply."
I work primarily in northern Franklin County and Southern Delaware County including "Clintonville, Columbus, Dublin, Grandview, Hilliard, Lewis Center, Powell, Upper Arlington, Westerville, Worthington"
Most of the Central Ohio areas I care about have a much shorter supply of housing:
- Clintonville 62 homes sold - 3.3 months of inventory based on sales (MLS area)
- Dublin 117 homes sold - 5.7 months of inventory based on July sales (school district)
- Gahanna 41 homes sold July - 9.1 months of inventory based on sales
- Grandview Heights 43 homes sold in July - 3.6 months of inventory based on recent sale (school district)
- Hilliard 152 homes sold in July - 3.8 months of inventory based on sales (school district)
- Lewis Center 43 homes sold in July - 5.4 months of inventory based on sales (the 43035 ZIP)
- New Albany 35 homes sold in July - 7.8 months of inventory based on sales (the Plain Local School District)
- Powell 24 homes sold in July - 6.4 months of inventory based on sales (City of Powell)
- Upper Arlington 52 homes sold in July - 6.1 months of inventory based on sales (the Upper Arlington School District)
- Westerville 108 homes sold in July - 4.9 months of inventory based on sales (the Westerville School District)
- Worthington 73 homes sold in July - 5 months of inventory based on sales (Worthington School District)
The Central Ohio communities above are in north Franklin County or Southern Delaware County. By my calculations these area's July home sales add up to 750 which is 36.5% of the total sales in the entire Columbus Board of REALTORS MLS area happened in this small area along the north outerbelt.
With inventories down, prices may go up in many of these communities.
There are individual market reports on this site for each of the areas above with average list and sale prices and more market detail.
Columbus Home Prices Rose April to May Columbus made a national list.
The stats are for residential property, single family and condominium sales combined. The stats are from data at the end of July 2009 from the Columbus Board of REALTORS® MLS (multiple listing service.) It's subject to errors.