Feb. 28, 2008 - Powell Property Values Going UP?

Zillow says the values in Powell went up in the 4th Quarter of 2008.

Columbus on Zillow's Zindex

Assuming Zillow is talking the Powell Corporation (City of Powell) not the mailing address Powell 43065... from the 2-15-2008 Discover Columbus entry here...

The Red of this spectrum Home Values are Up 9%+   Hot?

Powell + 11.6%
Sunbury + 9.7%

Remember Zillow measures the values of all homes... not just the homes for sale or sold...and Zillow measures all homes (not just condo and single family)

Powell Home Sales for 15 months....

Date	10/06	11/06	12/06	1/07	2/07	3/07	4/07	5/07	6/07	7/07	8/07	9/07	10/07	11/07	12/07
For Sale	201	189	155	166	166	191	210	212	208	212	210	198	199	182	162
Sold	14	14	10	12	12	20	16	20	30	26	18	19	12	7	15
Pended	16	10	10	19	12	18	21	26	23	27	11	15	20	10	13
Months of Inventory based on Closed Sales	14.4	13.5	15.5	13.8	13.8	9.6	13.1	10.6	6.9	8.2	11.7	10.4	16.6	26.0	10.8
Months of Inventory based on Pended Sales	12.6	18.9	15.5	8.7	13.8	10.6	10.0	8.2	9.0	7.9	19.1	13.2	10.0	18.2	12.5
Avg. Active Price	371	364	377	361	355	372	375	384	380	385	379	379	372	369	376
Avg. Sld Price	305	344	373	392	337	283	341	348	348	305	362	298	415	289	392
Avg. Sq. Ft. Price	118	125	127	125	120	117	130	126	120	120	124	119	139	120	116
Sold/List Diff. %	95	97	97	96	97	97	100	98	97	98	95	97	103	95	96
Sold/Orig LP Diff. %	94	93	94	91	94	96	99	96	95	97	92	94	102	93	92
Days on Market	101	127	84	138	139	179	100	141	140	127	135	170	62	106	154
Median Price	288	325	345	356	309	284	307	329	333	294	350	298	427	308	339

*All reports are published Jan. 2008, based on data available at the end of Dec. 2007. All reports presented are based on data supplied by the Columbus Board of Realtors, Northern Ohio Regional MLS, Centralized Real Estate Information Service, Greater Cincinnati MLS and Dayton Area Board of Realtors or theirs MLSs. Neither the Association nor their MLSs guarantee or are in anyway responsible for its accuracy. Data maintained by the Association or their MLSs may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Confusing.  I hope Zillow's crystal ball is correct and the value of porperties in Powell are increasing.

The Zillow  info came from the Zillow call I listened to a few weeks back.  The statistics in the table are from TrendGraphix.  Real Living HER is the only company in Central Ohio with access to TrendGraphix.  The numbers come from the Columbus Board of Realtors MLS.

I'd love to hear from you if you have a comment on the topic. All comments are moderated so you will not see your comment immediately. Thanks. Copyright 2008 Discover Columbus and Maureen McCabe

Feb. 29, 2008 - RE: Powell Property Values Going UP?

Hi Maureen- as a realtor who shows a lot of property in Powell, a resident of Powell, and a person who has their home on the market in Powell- I can strongly attest that property values are doing the same as in the Columbus area overall- basically flat or a slight decline.  I'm often fascinated with the numbers stats from various 'automatic' sites and how they are achieved.  People have to remember that the 'average' can easily be skewed from Reality if several very high-priced homes sell and few lower priced homes sell.....  ALL real estate is local.  You just can't take a random computerized number and apply that to your home sale if that puts you $20,000.00 higher than everything else in your neighborhood.  Buyers are extremely savvy and are hawkishly looking at all the sold stats in the area they want to buy.

They just have it wrong..... sales are steady in Powell, but those numbers aren't happening.....

Feb. 29, 2008 - RE: Powell Property Values Going UP?

Since Zillow is  not measuring the value of the homes sold (or even homes for sale), but they are saying the  value of  Powell  homes overall increased  I don't know that there is a way to say whether Zillow is right or wrong...  at anyone given time maybe some point out in the future we'll be able to see how accurate the Zindex is by community. 

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