Central OH Home Prices Post Gains While Home Supply Shrinks

November home prices in Central Ohio increased for the 10th consecutive month! The average home sale price in November 2012 was $165,444, a gain of 8.6% from the same period a year ago.

The average sale price of homes sold January 2012 through November 2012 was $168,198, a gain of 7.2%.

Home sales activity was also robust, with November 2012 home sales volume 30% higher than November 2011.

The challenge for Columbus home buyers is the diminishing supply of homes for sale. November 2012 saw 20% fewer homes on the market than November 2011.

The home sale trends of late 2012 give us an idea of what we could expect to see in the market during 2013. As long as employment in Central Ohio remains stable and we do not see disruptive fiscal policies, it’s reasonable to expect that home prices in Columbus will continue to trend higher. This expectation is based on steady home buyer demand, favorable mortgage interest rates, and a shrinking supply of home inventory.

Neighborhood Price Trends in Columbus, OH

When you are looking at Columbus homes for sale, knowing the price trends of a given neighborhood can be a useful frame of reference. Here’s a sampling of average home sale prices in the Columbus area during November 2012, and whether that price reflected an increase or decrease from November 2011.

Bexley: $366,001  +8.8%

Dublin: $272,659  -3.0%

German Village: $432,53 +12.5%

Hilliard: $202,585 +17.3%

Home Buying Help in Columbus, OH!

Please keep in mind that real estate statistics are always changing, and each local market in Columbus will have unique considerations. This is why home buying success requires professional real estate guidance! If you want to buy your own home in Central Ohio, give yourself every advantage!

You can download our free e-book to get started! As you read it, jot down your questions about buying a home in Columbus, OH and then contact me! I will be ready to help you, and you won’t pay a dime for my services! I’ll be happy to explain how this works!

Andrew Show
Broker, CEBA, CEBA-M, CNE, CSP, ABR-M, e-PRO, GREEN
Buyer’s Resource Realty Services
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

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