Lewis Center Ohio Real Estate Market Highlights
How’s the real estate market doing so far for 2017 in Lewis Center? Is it a Buyer’s Market or a Seller’s Market? How many days are homes sitting on the market? Find the answers to these questions and more in the 1st quarter market update for Lewis Center, Ohio.
Homes For Sale/Sold/Pending/New Listing
Homes For Sale in March 2017: 59 units.
- 0% compared to the last month
- Down 36.6% compared to the last year
Homes Listed in March 2017: 49 units.
- Down 12.5% compared to the last month
- Down 47.9% compared to the last year
Homes Closed in March 2017: 55 units.
- Up 71.9% compared to the last month
- Up 14.6% compared to the last year
Homes Placed Under Contract in March 2017: 56 units.
- Up 12% compared to the last month
- Down 16.4% compared to the last year
Lewis Center, Ohio Average Price Per Square Foot
March 2017 Average Sold Price per Square Footage is Neutral*
Average Sold Price per Square Footage in March 2017: $117
- Up 5.4% compared to the last month
- Up 2.6% compared to the last year
*Based on 6 month trend – Appreciating/Depreciating/Neutral
Average Days On Market
March 2017 Average Days on Market trend Remains Steady*
Average Days on Market in March 2017: 30
- Down 33.3% compared to the last month
- Down 38.8% compared to the last year
March 2017 Sold/Original List Price Ratio Remains Steady*
Sold/Original List Price % in March 2017: 98%
- 0% compared to the last month
- Up 2.1% compared to the last year
*Based on 6 month trend – Rising/Falling/Remains Steady
Average Prices and Median Prices
March 2017 Median Sold Price is Neutral*
Average Median Sold Price in March 2017: $267
- Down 8.2% compared to the last month
- 0% compared to the last year
March 2017 Average For Sale Price is Neutral*
Average For Sale Price (in thousand) in March 2017: $400
- Down 4.8% compared to the last month
- Up 12% compared to the last year
March 2017 Average Sold Price is Neutral*
Average Sold Price (in thousand) in March 2017: $286
- Down 2.7% compared to the last month
- Up 1.1% compared to the last year
*Based on 6 month trend – Appreciating/Depreciating/Neutral
Months Of Inventory in Lewis Center, Ohio
March 2017 is a Seller’s market*
Months of Inventory based on Closed Sales in March 2017: 1.1
- Down 38% compared to the last month
- Down 41.3% 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 Real Estate Market Minute
What do all of these charts and numbers mean for the average home buyer or seller? The big news during this hot seller’s market has been the low inventory, especially for starter homes. That low inventory continues.
If you’re searching for a Lewis Center home in a lower price point, be prepared to move quickly when homes are listed. Contact me at 614-830-9767 to receive alerts when new properties matching your criteria are listed. My property alerts can be hours or even days ahead of the big, national websites, giving you a significant edge.
If you’re thinking about selling a home in Lewis Center, getting it properly prepared is key to selling quickly for top dollar. If you’re selling a starter home and moving up, be ready for your current home to sell quickly. The average number of days homes were on the market in March is down almost 40% compared to the same time last year.
This market is ideal for move-up buyers – home owners who are ready to sell their first or even second home for a higher priced home. The Lewis Center real estate market desperately needs homes in lower price points, but there are beautiful homes to choose from in the higher price points.
