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Columbus Real Estate Declared a Sellers Market

by Maureen McCabe on December 21, 2012

Columbus Board of REALTORS - Ready for a rebound

The Columbus Board of REALTORS declared Columbus a sellers market, officially.

That Columbus is a sellers market for  real estate now was not  the headline of the email sent to members of the Columbus Board of REALTORS (CBR) yesterday.  The headline of the “official” word from the Columbus Board of REALTORS to members on Thursday December 20, 2012 was  titled  “Autumn season ends with home sales, prices up!”   

​In the article, from the “official voice of real estate in central Ohio” it says:

“With the combination of increased sales and low inventory, our months supply is down to 5.5.  Any time the supply gets below 6 months, we have a sellers market,” said Coridan.

Coridan is Jim Coridan, the President of the Columbus Board of REALTORS, the voice of the voice of real estate in this area for the past 12 months.  This is Coridan’s last article.  The Columbus Board of Realtors (“The Voice for Real Estate” around these parts which they refer to as central Ohio. Or “CENTRAL OHIO”)  The CBR website says  in all capital letters, its trademarked, that they are the voice of real estate.)  The voice of the voice of real estate in 2013? Chris Pedon of HER Realtors the 2013 president of CBR.  He will be the voice of the voice of real estate around these parts for the next twelve months. In January 2013 Pedon will talk December 2012 Columbus real estate, officially.  I am sure he will recap the 2012 Columbus real estate market officially too.

Define Columbus

The Columbus here is the area covered by the Columbus Board of REALTORS mls (the multiple listing service.)  The Columbus Board of REALTORS mls is BIG!   Franklin and Delaware counties and a whole lot more.

Columbus real estate -  inventory

Columbus Board of REALTORS mls graph

The last paragraph of the email sent from the Columbus Board of REALTORS dealt with inventory, the number of homes for sale in the Columbus Board of REALTORS mls based on demand…  the paragraph above with Jim Coridan declaring a sellers market!   That’s the aqua graph.  I did aqua graph in November for October.  Columbus real estate October 2012  (Columbus Board of REALTORS mls.)  The graph shown here is the graph for single family resale homes in the Columbus Board of REALTORS mls.   You can see single family resale has been under 6 months for months.

You can see  that if you have a magnifying glass.  Click on  the link in the paragraph above for a larger version of the inventory graph through October 2012.

 

Columbus real estate – home prices

The Columbus Board of REALTORS email to members says of November 2012 home prices:

“The average sale price of $165,444 was 8.6 percent higher than in November 2011.”

I could create a graph to match that… I hope.

I look at single family resale separately.  That’s what this graph is.

Graph Columbus home prices through November 2012

If you look at single family resale only as I do on my Columbus real estate site (in the side bar here on ColumbusBestBlog.com) the average sale price in November was $174,000.  That’s the graph here.   The market report for the entire Columbus Board of REALTORS mls area on Discover Columbus Ohio, was posted on December 7, 2012 based on the information provided by the Columbus Board of REALTORS multiple listing service at the end of November.

Columbus, Ohio real estate is seasonal… we said hello to the snow this morning, the first day of winter.  At least the world did not end as predicted by the Mayans.   We compare November this year to November last year.    The average price year to date for the huge area that is the Columbus Board of REALTORS mls?  According to the CBR email  “$168,198, up 7.2″ from the same period?  That is residential but.

The paragraph calling central Ohio a seller’s market in the email from the Columbus Board of REALTORS quoting Jim Coridan concludes “With a seller’s market, we are going to see home prices continue to rise.”

We can watch ‘em.  We can watch Columbus home prices rise.

More Columbus real estate

Columbus Ready for a Rebound  -  That’s the photo at the top… podiums, computer screen savers at the Columbus Board of Realtors predicted this rebound!

2011 Columbus Real Estate Recap  it was not a seller’s market

 

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