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RSS FeedSelling your Columbus home in a buyers market |
In Selling your home in a buyer's market in the This Week Newspapers Bill Evans wrote: "A good way to ensure that you set the best price is to obtain a Comparable Market Analysis (CMA) from your Realtor The CMA will include homes in your area that are currently on the market, expired from the market, pending a sale and already sold within the last three to six months. The best indicator of your home's value is the price for similar homes in your area that are currently on the market. "
Evans President of Real Living HER writes a weeky column in the the "This Week" newspapers that are distrbuted in a number of Central Ohio communities.
If your neighbor's homes are priced correctly. If your neighbors priced their home based on the highest selling price in their neighborhood two years ago, you'll all be overpriced too. If you look at Market Reports (they larger area than a CMA would cover and unfortunaltely lump single family homes with condominiums), the average list price is well above the sale price... homes that sell are consistantly priced within 3 to 4 % of sales price... you have to look at the homes that are under contract or have sold within the last few months IMHO (in my humble opinion.) The Home Pricing Disconnect on ColumbusBestBlog.com
Market Reports for Franklin and Delaware County
The graph above is from TrendGraphix and is for Franklin County for the 15 months through October 2007. This graph matches the average active price and average sold price lines on the table in the Franklin County Market Report through October 2007. (graph at the top of this post)
Franklin County Market Report (graph at the top)
| 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 |
| Avg. Active Price | 198 | 198 | 196 | 190 | 188 | 189 | 191 | 193 | 197 | 199 | 198 | 196 | 195 | 196 | 202 |
| Avg. Sld Price | 173 | 165 | 165 | 160 | 167 | 160 | 150 | 160 | 160 | 165 | 175 | 172 | 170 | 159 | 159 |
| 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 |
| Avg. Active Price | 376 | 375 | 374 | 375 | 369 | 372 | 376 | 373 | 372 | 377 | 370 | 374 | 373 | 371 | 345 |
| Avg. Sld Price | 299 | 309 | 267 | 281 | 308 | 285 | 298 | 275 | 302 | 277 | 297 | 285 | 289 | 271 | 264 |
Market Analysis Request for your Central Ohio home.
Find a home. Buy a home in this buyers market... it's a smart thing to do...
The graphs and tables are from Trendgraphix. Real Living HER is Central Ohio's only subscriber to TrendGraphix. The data is from the Columbus Board of REALTORS® MLS. These statistics are single family and condominium properties combined.
Copyright 2007 Discover Columbus and Maureen McCabe
