March 2016 Worthington Market Report

March 2016 Worthington Market Report

Real estate market data for Worthington, OH  provided by Jim West of Keller Williams Capital Partners.

Worthington Ohio Home Prices

Home prices in Worthington 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 Worthington 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 Worthington'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 Worthington home on which you are making an offer.

If you are interested in how much current inventory is on the market in Worthington you can find that information by clicking on the link. Our inventory is at its lowest point since 2000, currently sitting at less than 30 days! This low inventory will suggest that homes are not staying on the market for very long. Currently in this area of Worthington, homes have an astounding time of 36 days on the market before they sell. 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 Worthington 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 by 27% from the same month last year. Please see the chart below for current inventory level.

P.S. We try to update the Worthington Market Report every month. Please let us know if you have any questions.

Points of Interest:

• 86 closed sales, double the number from last month
• 36 days on the market
• 80 total homes for sale
• .9 months supply of inventory

Worthington Ohio Real Estate Report Summary 

The median list price at time of sale in March 2016 for single family homes in Worthington was $232,100.

The median list price increased by 5.5% from the same month last year.

The list price per square foot for listings in this area is $134.43.  

The median sale price in January for single family homes was $229,000. The median sale prices were up by 4.1% from the same month last year.

The price per square foot for sales in this area is $128.24, up 8.3% from same month last year.

Find Homes for Sale in Worthington Ohio

Visit our website to search for homes in Worthington or to be notified when new Worthington homes come on the market. To find out what you home is worth in the current market email or call us @ 614-507-5732.

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