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Central Ohio Home Sales by School District

by Maureen McCabe on February 3, 2008

For January 2008…. home sales in some* Central Ohio school districts.

 

Many real estate agents around the country talk about “absorption rate.” It is the same thing as how many months of inventory there is on a TrendGraphix market report (posted to Discover Columbus monthly.)

Six months of inventory is a normal, less than six months is a sellers market, more than six months is a buyers market. Most of Central Ohio is a buyers market.

 

Absorption rate is the number of months it will take for the market to absorb the inventory on hand at the current rate of sales. Some agents do absorption rate by weeks… months works for Central Ohio.

January 2008 Absorption Rate by Schools

Big Walnut – absorption rate 32.25 months

 

Active – 129 Properties Found
Sold – 4 Properties Found
Average sale price $278,225

 

Buckeye Valley absorption rate 20.2 months

 

Active – 121 Properties Found
Sold – 6 Properties Found
Average sale price $266,500

 

 

Columbus absorption rate 14.1 months

 

Active -3465 Properties Found
Sold – 245 Properties Found
Average sale price $96,810

 

 

 

Dublin absorption rate 16.6 months

 

Active – 365 Properties Found
Sold – 22 Properties Found
Average sale price $354,056

 

Gahanna Jefferson absorption rate 16.6 months

 

Active – 300 Properties Found
Sold – 18 Properties Found
Average sale price $245,630

 

Grandview absorption rate 4 months

 

Active – 16 Properties Found
Sold – 4 Properties Found
Average sale price $281,000

Hilliard absorption rate 11.5 months

 

 

Active – 448 Properties Found
Sold – 39 Properties Found
Average sale price $202,361

Olentangy absorption rate 18.7 months

 

Active – 749 Properties Found
Sold – 40 Properties Found
Average sale price $327,440

 

Plain Local ( New Albany) absorption rate 18.1 months

 

Active – 254 Properties Found
Sold – 14 Properties Found
Average sale $373,605

 


Upper Arlington
absorption rate 11.5 months

 

Active – 195 Properties Found
Sold – 17 Properties Found
Average sale $308,205

 

Westerville absorption rate 9.8 months

 

Active – 518 Properties Found
Sold – 53 Properties Found
Average sale $201,306

 

Worthington absorption rate 7.7 months

 

Active – 223 Properties Found
Sold – 29 Properties Found
Average sale $241,929

 

 


Sales by County (all school districts)

Delaware absorption rate 17.3 months
Active – 1523 Properties Found
Sold – 88 Properties Found
Average sale $283,511

 

Franklin absorption rate 13.2 months
Active – 7329 Properties Found
Sold – 554 Properties Found
Average sale $158,072

 


All over Central Ohio (all school districts, all counties)
absorption rate 14.5 months

 

Active – 13181 Properties Found
Sold – 912 Properties Found
Average sale $160,716

 

Range to $3,500 to $2,750,000

 

One problem with TrendGraphix (used to create market reports on Discover Columbus) is it pulls the data by MLS area. Some MLS areas make sense, for example Worthington, the area it pulls is just the city of Worthington and the village of Riverlea. The problem is there are a lot of Worthington area homes, in the Worthington School District that are in the City of Columbus or Perry or Sharon Townships. With TrendGraphix there is no way to search and pull up graphs by school district.

Above is strictly properties listed in the Columbus Board of Realtors as single family homes.

Many but not all people look for a particular school district because it meets their families needs or they currently live in the district and just need a bigger home. What school districts are above*? Mainly those in the area of the north outer-belt… where I work. I work out of the Worthington area. City of Columbus school district, I work in the Clintonville area, the northeast and northwest parts of that school district. The Columbus numbers reflect the entire school district not just the north side.

 

Average Prices

Average prices don’t tell the whole story either, for example the prices for homes sold in the Buckeye Vally School range from $114,000 to $420,000. The price range of homes sold in the Columbus School District in January 2008 goes up to a $625,000 sold price.

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