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Upper Arlington "watched prices slide"?

by Maureen McCabe on August 3, 2007

Graph Upper Arlington Price Per Square FootUpper Arlington Graph of Avg price for sale and sold

Click on the graphs above and they will open up so you can see the numbers for Upper Arlington.  An article in the Columbus Dispatch said home prices were sliding in Upper Arlington?

The Sunday Columbus Dispatch article entitled “Housing market seen as stable”  is subtitled “Central Ohio’s history makes huge price drop unlikely, analysts say”  said:

“Even so, all neighborhoods are not equal. Some pockets of central Ohio, such as Clintonville, Upper Arlington and Powell, saw swift price increases during the earlier part of this decade and have since watched prices slide.”

Are Upper Arlington homes ”sliding” as in dropping in value?

Powelll Graph of For Sale Vs. Sold for 15 months through June 2007Are Upper Arlington homes “sliding” as in not gaining value as rapidly as they had earlier in the decade?   Upper Arlington homes are subject to the same market  as the rest of Central Ohio.   The article is about Columbus being on a list of the least risky markets in the US for prices to drop drastically.      The list compiled by PMI does not make distinctions between the three markets mentioned by name in the Columbus Dispatch Article.   Central Ohio including Upper Arlington is very “unrisky” place to buy a home.   

The first chart above shows the price per square foot in Upper Arlington is $165.00 same as in June 2006.  That sounds stagnant rather than sliding.   Similar to the rest of Central Ohio….  

The line graph shows list price and sale price in Upper Arlington for the past 15 months.  Looks like swings rather than slides to me.  Up and down and back up…

The green bar graph on the right above shows there is inventory in Upper Arlington, but at the end of June Upper Arlington residential inventory was down ever so slightly from the inventory levels  of June 2006.     

Upper Arlington residential (single family and condominium sales by year in this decade:

2007 $331,955 (YTD)                                 

2006 $328,334

2005 $327,264

2004 $314,881

2003 $282,081

2002 $284,853

2001 $261,855                                                                                                 

2000 $259,208

Average price went up greater in some years earlier this decade, than others. 2002 looks like it was good (after 9/11/2001?)  2004 looks like it was  a good year for Upper Arlington as a whole. 

I’d put the table with all the numbers for the past 15 months that created these graphs  with TrendGraphix but then my sidebar would be dragging on the ground unless I did a “cellectomy” on the table.   That’s what happened on my blog when I tried to do the same for Clintonville a couple of days ago.  After struggling with html for a couple of days I gave up and removed the months of April and May 2006 from the tables but those months are reflected in the graphs in the entry about Clintonville.   

Too much work! 

There are pockets in  Upper Arlington too…. neighborhoods.  Appreciation, sale price, days on market, difference between list price and sale price are going to vary by neighborhood too…   Overall it looks like homes in the City of Upper Arlington may overall be a place where prices could start climbing again as the inventory goes down.  Swing up?  

Columbus  – Top Ten Least Risky Markets to buy a home!

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Maureen McCabe, Real Living HER, 614-825-8842

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