In my Lewis Center real estate market report for the first quarter of 2016, we saw low inventory, homes selling quickly, and prices moving up. This is no surprise as it follows national trends.

Let’s take a quick look at the latest numbers for Lewis Center, and see how the second quarter real estate market looks.

Lewis Center For Sale/Sold/Pending/New Listing

Lewis Center OH Real Estate Market Update Q2 2016 - For Sale, Sold, Pending, New Listings Chart
Click chart image to view full size.

As in the first quarter, we are once again in a Seller’s Market in Lewis Center, Ohio. While the number of homes for sale in June went up, the number of homes listed moved down over 5% compared to this time last year. This low inventory is fueling the seller’s market, and making house hunting a challenge.

Homes For Sale in June 2016: 95 units.

  • Up 5.6% compared to the last month
  • Up 1.1% compared to the last year

Homes Listed in June 2016: 72 units.

  • Down 1.4% compared to the last month
  • Down 5.3% compared to the last year

Homes Closed in June 2016: 58 units.

  • Down 18.3% compared to the last month
  • Up 3.6% compared to the last year

Homes Placed under Contract in June 2016: 30 units.

  • Down 31.8% compared to the last month
  • Down 50% compared to the last year

Average Price Per Square Foot

Lewis Center OH Real Estate Market Chart Showing Average PPSF in Q2 2016
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June 2016 Price Per Sqft Highlights

June’s average sold price per square foot is appreciating (based on 6 month trend).

Average Sold Price per Square Footage in June 2016: $119

  • Up 2.6% compared to the last month
  • Up 5.3% compared to the last year

Average Days On Market (DOM)

Lewis Center OH Real Estate Chart With DOM Q2 2016
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June 2016 DOM Highlights

As we saw last quarter, the Average Days on Market trend in Lewis Center is falling (based on 6 month trend).

Average Days on Market in June 2016: 33

  • Down 15.4% compared to the last month
  • Up 6.5% compared to the last year

Average Prices & Median Prices

Lewis Center OH Real Estate Chart With Average and Median Prices For Q2 2016
Click chart to view larger image.

Average Median Sold Price in June 2016: $275k

  • Down 3.2% compared to the last month
  • Up 3% compared to the last year

June 2016 Average For Sale Price is Appreciating*

Average For Sale Price (in thousand) in June 2016: $373

  • Up 3.6% compared to the last month
  • Up 6.3% compared to the last year

June 2016 Average Sold Price is Appreciating*

Average Sold Price (in thousand) in June 2016: $291

  • Up 1.7% compared to the last month
  • Up 1% compared to the last year

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

Months Of Inventory

Lewis Center OH Real Estate Update Q2 2016 MOI
Click on chart to view full size image.

June 2016 Housing Inventory in Lewis Center OH

Months of Inventory based on Closed Sales in June 2016: 1.6

  • Up 23.7% compared to the last month
  • Down 6% compared to the last year

What’s It All Mean?

The short answer: it’s a HOT seller’s market. If you’ve been thinking about selling your Lewis Center home, this might be an ideal time for you to sell.

Start by learning more about the home selling process and by finding out the current market value of your home.

Buying In A Seller’s Market

If you’re ready to buy a home, it may be a challenge, but don’t lose hope. With interest rates low and Columbus area home values predicted to rise, investing in real estate is still a good idea. I’ve helped plenty of home buyers find the right home, and I know I can help you too.

Start by learning more about home buying and looking at Lewis Center homes for sale.

Questions? Ask Away

I love to talk about Lewis Center real estate! If you have questions about this report, feel free to contact me, Rita Boswell, by phone, email, or even on social.

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