Detailed real estate market report and trends for Columbus Ohio for March 2016

1. MARCH 2016 REPORT
COLUMBUS OHIO REAL ESTATE
MARKET REPORT
A comprehensive report on the
Columbus & Central Ohio Real Estate Market
Volume 5, Issue 2

2. Homes Sold per Month
The Chart below follows the trends of the number of homes sold during any given month. Last month there were 2255 homes
sold in central Ohio. That number is up 35% or 581 homes from February 2016. That number is also up from March 2015, but
only by 8 homes. 2015 was a record year for central Ohio though and it looks like 2016 may break that total but only if we
get more homes available to sell!
Keller Williams Capital Partners - 100 E Wilson Bridge Rd. Worthington, OH 43085 - Direct: (614) 507-5732 - email: jimwest@jimwestteam.com

3. Homes For Sale Per Month
The Chart below follows the trends of the number of homes for sale during any given month. At the beginning of March there
were 4,871 homes for sale in central Ohio. That number is down by 129 units from February 2016 but is down by 1,369 homes
from March 2015, or 22%. We continue our downward trend of homes for sale, which is our lowest inventory in 20 years!
Keller Williams Capital Partners - 100 E Wilson Bridge Rd. Worthington, OH 43085 - Direct: (614) 507-5732 - email: jimwest@jimwestteam.com

4. Pending Sales Per Month
The chart below tracks the number of Pending sales in the market. These are homes that are under contract that have yet to
close. This month there are 1,420 homes Pending in central Ohio, which is down by 466 homes from February 2016, or
25%. It is also down by 737 homes from March 2015, or by 34%!!
Keller Williams Capital Partners - 100 E Wilson Bridge Rd. Worthington, OH 43085 - Direct: (614) 507-5732 - email: jimwest@jimwestteam.com

5. Sales by Price Band
Overall we remain in an Extreme Seller's Market with only 2 months of inventory. However the Market is different based on
demand and the number of homes for sale in each price range,as homes priced over $500,000 has 8 months or more of
inventory with no homes priced between $800,000 - $900,000 selling!
Price Range # of Solds Active Listings Months of Inventory Market
$0K-$100K 516 1,404 2.72 Extreme Seller's Market
$100K-$200K 904 1,234 1.37 Extreme Seller's Market
$200K-$300K 478 733 1.53 Extreme Seller's Market
$300K-$400K 201 494 2.46 Extreme Seller's Market
$400K-$500K 79 315 3.99 Normal Seller's Market
$500K-$600K 47 247 5.26 Normal Seller's Market
$600K-$700K 18 145 8.06 Balanced Market
$700K-$800K 6 102 17.00 Extreme Buyer's Market
$800K-$900K 0 54 NA
$900K-$1M 3 40 13.33 Extreme Buyer's Market
$1M-NOLIMIT 3 103 34.33 Extreme Buyer's Market
Overall MKT 2,255 4,871 2.16 Extreme Seller's Market
12+ Months of Inventory Extreme Buyer's Market High Depreciation
9-12 Months of Inventory Normal Buyer's Market Moderate Depreciation
6-9 Months of Inventory Balanced Market Flat/Slight Depreciation
3-6 Months of Inventory Normal Seller's Market Moderate Appreciation
0-3 Months of Inventory Extreme Seller's Market High Appreciation
Keller Williams Capital Partners - 100 E Wilson Bridge Rd. Worthington, OH 43085 - Direct: (614) 507-5732 - email: jimwest@jimwestteam.com

6. Sales by School District
The chart below provides detail on how well each School District in the area is selling and the impact on home values. All
districts are sitting at 2 months or less of inventory except for Buckeye Valley, which is at 3 months. 3 districts, Hilliard,
Upper Arlington and Worthington are all in extreme situations with less that 30 days of inventory!! Now is the best
time to sell in years!
School # of Solds Active Listings Months of Inventory Median Sales Price Avg DOM
BuckeyeValley 19 58 3.05 $296,000 107
Columbus 524 1,048 2.00 $125,000 67
Delaware 51 57 1.12 $170,000 44
Dublin 100 257 2.57 $306,000 97
GahannaJefferson 55 68 1.24 $199,000 58
Hilliard 136 132 0.97 $189,000 66
JonathanAlder 9 12 1.33 $282,000 60
Marysville 29 72 2.48 $166,000 51
Olentangy 117 329 2.81 $330,000 75
Pickerington 78 92 1.18 $201,000 68
UpperArlington 50 51 1.02 $318,000 66
Westerville 96 119 1.24 $182,000 59
Worthington 87 66 0.76 $230,000 47
12+ Months of Inventory Extreme Buyer's Market High Depreciation
9-12 Months of Inventory Normal Buyer's Market Moderate Depreciation
6-9 Months of Inventory Balanced Market Flat/Slight Depreciation
3-6 Months of Inventory Normal Seller's Market Moderate Appreciation
0-3 Months of Inventory Extreme Seller's Market High Appreciation
Keller Williams Capital Partners - 100 E Wilson Bridge Rd. Worthington, OH 43085 - Direct: (614) 507-5732 - email: jimwest@jimwestteam.com

7. Sales by Zip Code
The chart below provides details on how well each Zip Code is currently selling and the impact on home values. All zip codes
sit at 2 months or less of inventory except for 43064 (Plain City) which sits at 3.33 months. But the Plain City area has an
extreme amount of new construction. 43081 (Westerville) and 43085 (Worthington) are both sitting at less than 30 days. In
other words, if no more homes came on the market in these 2 zip codes, then they would be all sold out! This constitutes a
high appreciation of home values.
Zip Code # of Solds Active Listings Months of Inventory Median Sales Price Avg DOM
43015 73 130 1.78 $195,000 61
43016 69 125 1.81 $257,000 87
43017 48 135 2.81 $346,000 116
43026 81 65 0.80 $178,000 55
43035 41 93 2.27 $269,000 67
43040 27 66 2.44 $166,000 51
43064 12 40 3.33 $305,000 60
43065 55 160 2.91 $329,000 68
43081 74 62 0.84 $192,000 48
43082 34 76 2.24 $293,000 79
43085 38 33 0.87 $241,000 36
43147 69 84 1.22 $209,000 66
43220/43221 88 92 1.05 $239,000 64
12+ Months of Inventory Extreme Buyer's Market High Depreciation
9-12 Months of Inventory Normal Buyer's Market Moderate Depreciation
6-9 Months of Inventory Balanced Market Flat/Slight Depreciation
3-6 Months of Inventory Normal Seller's Market Moderate Appreciation
0-3 Months of Inventory Extreme Seller's Market High Appreciation
Keller Williams Capital Partners - 100 E Wilson Bridge Rd. Worthington, OH 43085 - Direct: (614) 507-5732 - email: jimwest@jimwestteam.com

8. Median Price of Homes sold
The chart below tracks the median sales price per month. Last month the median sales price was $165,000, up $10,000 from
last month and is up by $13,000 from March 2015, or 8.5%.
Keller Williams Capital Partners - 100 E Wilson Bridge Rd. Worthington, OH 43085 - Direct: (614) 507-5732 - email: jimwest@jimwestteam.com

9. Average Sale Price of Homes Sold
The chart below tracks the average sales price per month. Last month the average sales price was $192,000. That is up by
$6,000 from February 2016 and is up $14,000 from same month last year. We did not see sales prices this high last year, our
highest sales price average ever, until May. That is up by by 9% from 2015.
Keller Williams Capital Partners - 100 E Wilson Bridge Rd. Worthington, OH 43085 - Direct: (614) 507-5732 - email: jimwest@jimwestteam.com

10. Average Days On Market of Homes Sold
Of the homes that sold last month, the average number of days the homes were on the market was 71 days, down by 6 days
from February 2016, and is down by 18 days from March 2015, or 20%.
Keller Williams Capital Partners - 100 E Wilson Bridge Rd. Worthington, OH 43085 - Direct: (614) 507-5732 - email: jimwest@jimwestteam.com

11. Mortgage Rates - 11 year Summary
We monitor interest rates because they directly affect buying power. The higher the rate, the more it costs for a buyer to buy. When interest rates rise, it has the
same effect as a seller raising his price and fewer homes sell because mortgage payments are higher. Conversely, when rates decrease more buyers qualify to
purchase and home sales usually increase.
Keller Williams Capital Partners - 100 E Wilson Bridge Rd. Worthington, OH 43085 - Direct: (614) 507-5732 - email: jimwest@jimwestteam.com