If you have been keeping up with the Lewis Center real estate market, you know 2016 has been a great year so far. While we expect to see the normal seasonal slow down and lower prices of fall and winter, Lewis Center remains a Seller’s Market. Continue reading for more details.

September 2016 is a Seller’s market*

Homes For Sale in September 2016: 99 units.

  • Up 2.1% compared to the last month
  • Down 9.2% compared to the last year

Home Closed in September 2016: 56 units.

  • Down 22.2% compared to the last month
  • Up 16.7% compared to the last year

Home Placed under Contract in September 2016: 51 units.

  • Down 17.7% compared to the last month
  • Down 7.3% compared to the last year

*Buyer’s market: more than 6 months of inventory based on closed sales.
Seller’s market: less than 3 months of inventory based on closed sales.
Neutral market: 3 – 6 months of inventory based on closed sales

Lewis Center OH Real Estate Market Update Q3 2016 For Sale/Sold/Pending/New Listing
Click chart image to view larger.

September 2016 Average Sold Price per Square Footage is Depreciating*

Average Sold Price per Square Footage in Sept 2016: $116

  • 0% change compared to the last month
  • Up 7.4% compared to the last year

*Based on 6 month trend – Appreciating/Depreciating/Neutral

Lewis Center OH Housing Report 3Q2016 AVG PPSF
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September 2016 Average Days on Market trend Remains Steady*

Average Days on Market in September 2016: 39

  • Down 2.5% compared to the last month
  • Up 8.3% compared to the last year

September 2016 Sold/Original List Price Ratio is Falling*

Sold/Original List Price % in September 2016: 97%

  • Down 2% compared to the last month
  • Up 2.1% compared to the last year

*Based on 6 month trend – Rising/Falling/Remains Steady

Lewis Center OH Real Estate Market Report 3Q2016 DOM
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September 2016 Median Sold Price is Appreciating*

Average Median Sold Price in September 2016: $294

  • Up 2.1% compared to the last month
  • Down 1.7% compared to the last year

September 2016 Average For Sale Price is Neutral*

Average For Sale Price (in thousand) in September 2016: $367

  • Up 1.1% compared to the last month
  • Up 8.3% compared to the last year

September 2016 Average Sold Price is Appreciating*

Average Sold Price (in thousand) in September 2016: $305

  • Up 0.3% compared to the last month
  • Up 6.6% compared to the last year

*Based on 6 month trend – Appreciating/Depreciating/Neutral

Lewis Center OH Housing Update 3Q2016 Price Chart
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September 2016 Months Of Inventory Shows Seller’s Market*

Months of Inventory based on Closed Sales in Sept. 2016: 1.8

  • Up 37.1% compared to the last month
  • Down 22% compared to the last year

*Seller’s market: less than 3 months of inventory based on closed sales

September 2016 Median Sold Price is Appreciating*

 

Lewis Center OH Housing Report Q3 2016 MOI
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Lewis Center Real Estate Report Summary

So, what’s all this mean? While Lewis Center remains in a Seller’s Market, now is actually a great time to buy. The market has slowed down for the season, lending experts recommend locking in current rates, and, historically, fall/winter offers lower home prices than the spring/summer. Take a moment to explore Lewis Center OH homes for sale.

Have Questions? Ask Me!

If you have a question about this report, I can help. Contact me at (614) 547-3229. I love to talk about real estate!

Whether you’re thinking about buying or selling a Lewis Center home, it’s a good idea to stay on top of local real estate market conditions.

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