Westerville, Ohio Real Estate Market Highlights

How’s the housing market doing so far in Westerville this year? Is it time to buy or sell? How quickly are homes selling? Keep reading to find the answers to these questions and more in the 1st quarter real estate market update for Westerville, Ohio.

Westerville Homes For Sale/Listed/Sold/Pending March 2017

Homes For Sale in March 2017: 117 units.

  • Down 6.4% compared to the last month.
  • Down 15.2% compared to the last year.

Homes Listed in March 2017: 162 units.

  • Up 14.1% compared to the last month.
  • Down 13.8% compared to the last year.

Homes Closed in March 2017: 149 units.

  • Up 79.5% compared to the last month.
  • Up 27.4% compared to the last year.

Home Placed under Contract in March 2017: 184 units.

  • Up 72% compared to the last month.
  • Up 8.9% compared to the last year.

Westerville OH Real Estate Market Report 1Q2017 Graph


Average Price Per Square Foot in Westerville

March 2017 Average Sold Price per Square Footage is Depreciating*

Average Sold Price per Square Footage in March 2017: $114

  • Down 1.7% compared to the last month
  • Up 6.5% compared to the last year

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

Westerville OH Real Estate Market Report 1Q2017 PPSF


Average Days On Market For Homes Sold in Westerville

March 2017 Average Days on Market trend Remains Steady*

Average Days on Market in March 2017: 40

  • Down 2.4% compared to the last month
  • Down 9.1% compared to the last year

March 2017 Sold/Original List Price Ratio Remains Steady*

Sold/Original List Price % in March 2017: 97%

  • 0% compared to the last month
  • 0% compared to the last year

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

Westerville OH Real Estate Market Report 1Q2017 DOM


Average Prices & Median Prices in Westerville

March 2017 Median Sold Price is Neutral*

Average Median Sold Price in March 2017: $235

  • Up 4.4% compared to the last month
  • Up 4.4% compared to the last year

March 2017 Average For Sale Price is Neutral*

Average For Sale Price (in thousand) in March 2017: $432

  • Down 0.5% compared to the last month
  • Up 14.3% compared to the last year

March 2017 Average Sold Price is Neutral*

Average Sold Price (in thousand) in March 2017: $251

  • Up 2% compared to the last month
  • Up 8.7% compared to the last year

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

Westerville OH Real Estate Market Report 1Q2017 Prices


Months Of Inventory in Westerville OH

March 2017 is a Seller’s market*

Months of Inventory based on Closed Sales in March 2017: 0.8

  • Down 46.5% compared to the last month
  • Down 33.9% compared to the last year

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

March 2017 Median Sold Price is Neutral*

Average Median Sold Price in March 2017: $235

  • Up 4.4% compared to the last month
  • Up 4.4% compared to the last year

*Based on 6 month trend – Appreciating/Depreciating/Neutral
Westerville OH Real Estate Market Update 1Q2017 MOI


Westerville Real Estate Market Minute

What do these numbers and charts mean for the average home buyer or seller in Westerville? To break it down, low inventory continues to be a defining factor through the first quarter of 2017.

With less than a month of inventory, the Westerville real estate market desperately needs homes listed for sale. For comparison, 3-6 months of inventory is considered more balanced, while less than 3 months is considered a seller’s market.

If you’re looking for a home for sale in Westerville, stay on top of new listings as they hit the market, and be ready to jump on the ones that fit your wants and needs. Contact me at 614-547-3229 to sign up for alerts when new properties matching your criteria are listed. My property alerts can show you properties faster than the big, national home-search websites. Plus, not all homes listed in Westerville are shown on those major websites, and the information provided is often wrong. A local pro is the best resource for local listings.

If you’re going to be selling a home in Westerville, this seller’s market is ideal. Preparation, pricing, and staging are still key to selling quickly for top dollar. I can help you get your home ready, determine the right price, and stage it for a faster sale.

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