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Columbus and Central Ohio Housing Market Update
04/03/2008

Finally some very encouraging news from the Board of Realtors about our real estate market. The numbers are in for February and it looks like the market has started to turn around. The number of contracts written for February topped the last three months as well as the same time last year in February. The housing activity started when the mortgage interest rates were dropped in January this year. The Columbus Board of Realtors and many Realtors felt many buyers were waiting for this drop. Many buyers were able to qualify for their first home with this drop in interest while some others jumped at the chance to move to a larger home. While contracts increased, actual sales decreased by 5.8% from last year same time and same months. This is probably a carry over from the lack of activity during the holiday season and the first of the year.

The average price of a Central Ohio home last year in 2007 was $164,397. Then average price last month was $154,497. The very important issue is that there was fewer homes listed for sale in February 2008 (3538) compared to January (3812) and February 2007 (3417). The total number of homes listed for sale is now lower than the inventory level one year ago.

As Central Ohio inventory levels have been roughly 30% higher than normal for the last year or so, any leveling off in new listing is a welcome sign for the market as a whole. Quoting Greg Hrabcak, President of the Columbus Board of Realtors,” the fact that the supply has been significantly greater than the demand has resulted in lower sale prices, lengthier sales listing periods and a general concern about housing.” But housing, like most economics sectors, is cyclical. This buyers market won’t last forever.” Looks like he was exactly right as I see this buyers market ending very soon.

So, to all you’ve read in the newspaper, television and on the internet, that’s always bad, I would like for you to read about all the positives that are happening right now. Real Estate is alive and well. But, if you still want to read about the doom and gloom, I’m sure our news media will be happy to report this. They are part of this problem as they feel we only want to hear BAD news. Well I think they are wrong, we want to hear the truth.

Dora Clifford
Broker/Owner
Clifford Realtors

MLS Information

Multiple Listing Service (MLS) (also Multiple Listing System or Multiple Listings Service) is a database which allows real estate brokers representing sellers under a listing contract to widely share information about properties with real estate brokers who may represent potential buyers or wish to cooperate with a seller's broker in finding a buyer for the property. The MLS combines the listings of all available properties that are represented by brokers who are both members of the Columbus Ohio MLS system and of NAR (the National Association of Realtors). We are pleased to offer you Free all MLS homes in the Columbus Ohio MLS and Central Ohio MLS.

An Internet Data Exchange (IDX) is a real estate property search site which allows the public to conduct searches of approved (MLS) Multiple Listing Service properties in a certain area.

Site users generally gain the benefit of anonymous property searching and review. IDX sites usually provide less detailed information than the full Realtor Multiple Listing Service, limiting the data to that which is deemed publicly accessible. The benefit to realtors is that users of their IDX web site can search freely the MLS, establish some confidence, and qualify themselves before contacting the realtor.

Certain rules apply to the real estate companies' ability to display each detail about a property. These "display rules" are set by the Columbus Ohio MLS (Multiple Listing Service) organization, which generally forms its policy around the recommendations of the National Association of Realtors.

IDX policy is nearing its replacement by a new Internet Listing Display policy being formed by the National Association of Realtors.

Columbus Real Estate Today

Central Ohio Real estate has changed over the last few years in Columbus. If you visit downtown Columbus you will find condos and lofts. Nationwide Plaza and Columbus Short North are especially good for offering real estate sales of condo and lofts. Pricing usually starts in the low $200,000. In Columbus Ohio the prices have remained strong and even increasing in most areas. Columbus Real Estate has been experiencing a buyers market right now but homes remain strong with increases in the range from 3% up to 6%. each year.

The rehab or investment market is excellent in Columbus. These properties can be bought starting at around $40,000 and up and can be found on the Columbus Ohio MLS.

Single family real estate is still our strongest market and can range to over $900.000 depending on what area of Columbus you are interested in. Visit Columbus Ohio MLS Multiple Listing Service to see all the home listings in Columbus OH. Columbus Ohio is growing in leaps and bounds so real estate is still the best investment in your future. Call 614-367-1200 for more information or find out the best site to get all the MLS listings and information.

Westerville Ohio information.

Westerville's charm is that history has been well preserved through Westerville's housing stock, no matter what time the houses were built. Many no maintenance new homes as well as homes built since 1809 are available in Westerville. Starter homes as well as executive homes can be found at a reasonable price. Homes come in all sizes and shapes in Westerville. If you like large lots with lots of privacy, Westerville is the place to look first. If you want a smaller lot, Westerville offers that too. Westerville is particularly proud of it's natural beauty and careful planning so it's a nice place to call home. Westerville is a fast growing community with approximately 3700 residents, conveniently located about 10 minutes from the airport and the State capital of Columbus. Westerville boasts about their city services. The Ohio News Media routinely showers praise on these services. Recreational opportunities are abound in Westerville. With 41 different parks or recreation facilities there's always something for everyone. Westerville as the largest Columbus-area suburb, still offers the convenience that people want in today's fast-pace world.

Worthington Ohio information

Worthington was settled in 1803 by several New England families from the Farmington River Valley of Connecticut and Massachusetts, under the leadership of pioneer businessman James Kilbourne. In 1802, Kilbourne organized a group of men to form the Scioto Company and headed west from Granby, Connecticut to explore and find land to create a new community. With help from his friend, Thomas Worthington, Kilbourne purchased 16,000 acres of land on behalf of the Scioto Company for $1.25 an acre. When Kilbourne returned to New England, he planned the layout for the village. He platted a New England-type village of 164 lots around a central public square, which was designated for religious and educational purposes, as well as a spot for community gatherings.

In September 1803, eleven families left their Connecticut homes and traveled by wagon train to their new home in Ohio. It took six weeks for the families to travel the 600 miles to their new home, arriving in October of 1803. They named their new village Worthington, in honor of Thomas Worthington, one of Ohio’s first senators and a future governor of Ohio, for his assistance in locating the tract of land that would become Worthington.