Nov. 28, 2007 - Your Columbus Home - How long will it take to sell?

How long will it take to sell your Columbus home? It's a buyers market in Central Ohio so it may take awhile depending on how you price your home. "Priced to sell!" sometimes means the home is priced low for the market, or sometimes it means nothing.

Sometimes you hear about absorption rate, how long based on current sales will it take to absorb the inventory of homes on the market.

Franklin County Market Report through October 2007

The graph above is based on closed sales for Franklin County and is showing 11 months worth of inventory. The third line of info in the big table on the Market Report (green bar graph) relates to this graph.

Date

8/06

9/06

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

Months of Inventory based on Closed Sales

7.2

9.0

9.7

10.1

9.1

10.9

10.5

9.2

8.9

7.5

7.6

8.1

7.8

11.4

11.0

Delaware County Market Report through October 2007

The graph and table for Delaware County show 12.8 months based on the inventory at the end of October.

Date

8/06

9/06

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

Months of Inventory based on Closed Sales

8.9

10.5

11.7

11.7

11.9

13.2

11.1

9.8

10.9

9.5

7.5

9.2

9.7

14.6

12.8

Is this accurate? Not really, it does not take into consideration homes that did not sell and homes that were relisted (the Columbus Board of Realtors multiple listing service does not add the archived history back in.)

Of course the time on market will vary greatly by neighborhood... location, location, location...and condition and amenities. And competition.

Market Analysis Request for Central OhioCopyright 2007 Discover Columbus and Maureen McCabe

Find a Central Ohio home in this buyers market

The table and graphs are from TrendGraphix. Real Living HER is the only company in Central Ohio that uses TrendGraphix. The numbers are from the Columbus Board of Realtors multiple listing service.

Nov. 29, 2007 - RE: Your Columbus Home - How long will it take to sell?

Nov. 29, 2007 - RE: Your Columbus Home - How long will it take to sell?

It is good info... It  could give sellers an unrealistic image of the fact that homes not priced well or homes not "up to snuff " can take a really, really long time to sell when there's plenty of competiton on the market. 

It's always been that way with our data.  Agents can look up the history of a property of course and determine it's been on the market with x  number of different brokerages prior to the currnent listings.

 Thanks for the comment Sandy.