What’s going on with the Central Ohio Real Estate Market – 9/2/08

Here is a market update for this year so far, concerning the Columbus real estate market & Pickaway county.

Franklin county-wide :

Single family properties only , including condos.

9,579 Total homes sold , down from 11,340 in 2007 (A total of -15.5%)

$161,882 Average List Price ,down from $169,308 (A total of -4.38%)

115 Average Days On Market, down from 96 days (A loss of 16%)

While these numbers do show that our market is down from last year, our market has not dropped nearly as much as other markets. For instance, Las Vegas has lost 24.5% as compared to 2007.

As for Pickaway County

Average Sales price of $135,217  which is down from $151,771 (A loss of 10.9%)

284 Total sales as compared to 318 sales last year (A loss of 10.6%)

134 total days on market as compared to 109 days last year (A loss of 18.6%)

While these numbers are different than Columbus, the average sales price is skewed quite a bit. Last year, Pickaway county saw atleast 2 Near $1,000,000 sale. This year our highest sale has been half that which throws the numbers off quite a bit in our market. If you would take out the 2, near million dollar sales from last year, our total loss is about 40% less.