Westerville Homes for Sale

This week I thought we would look at what has happened to prices of new home coming on to the market and the price of homes being taken off the market (SOLD).

As can be seen from the chart below the median price of homes in the Westerville area has trended up over the summer months. While this is what we normally expect; Westerville has actually faired better than some of the other communities close by.

Also, during this time the price of homes coming on the market (new supply) has gone up as well as the price of homes sold. As can also be seen, in the past week or two some of these price trends have turned down. We anticipate this trend to continue as the $8,000 First Time Home Buyers program ends November 30th.



As we work with our sellers, we watch these reports closely to make sure we stay on top of the market.

Remember, Westerville Homes for Sale information includes both zip codes, (43081 & 43082)and the previous charts posted below update automatically on a weekly basis.

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Westerville Homes for Sale

We look at a lot of information as we help our clients through the purchase or sale of a home. Price trends, inventory trends, days on market etc. In the market we currently find ourselves; trends can change quickly, or the velocity of a trend can accelerate out of control. Additionally, you have seasonal conditions and market conditions that can add to the confusion. This is why we like to look at various charts both to spot trends and to spot trend changes.

Here is an interesting chart that reflectss both days on the market and inventory changes. When we are working with clients we try to break this information down into various price quartiles to get an even better understanding of the market forces at work.



If you would like additional information about the Westerville or to receive a copy of our full 14 page weekly report please let us know.

Remember, you can always view homes for sale in the Westerville area at TheWestervilleMLS.com

Westerville Home Prices Report

We have not reviewed the numbers recently for Greater Westerville area and we thought now would be a good time to do so as the end of the summer season is upon us.

As can be seen, Westerville is one of the areas in Central Ohio that has held it's value more than most others.

To see all listing in the Westerville area you can go to our Westerville home search site at www.TheWestervilleMLS.com . This is a great site for both buyers and sellers...make sure you sign-up for "listings alerts" so you can stay up to the minute on any inventory changes.

OK, let take that closer look:

The median single family home price in WESTERVILLE this week is $259,900. There is currently 505 homes that have been on the market for an average of 143 days.

Inventory is tightening and days on market are falling, which mean demand is heating up. Not that this is becoming a sellers market again, but a good positive sign and a relatively bullish sign for prices. Let's see if this trend remains in place as we move into the fall selling season.



To get a tightly targeted understanding of homes in the Westerville market, we break each locale into quartiles. Each quartile is 25% of the homes listed. Make sure you request your weekly report.

As can be seen above, prices are climbing and we're nearing the market's last year’s high



REMEMBER OUR CHARTS UPDATE AUTOMATICALLY EACH WEEK, EVEN IF THE POST DATE DOES NOT

Below is a chart that is very interesting and shows the difference between what is happening in 43081 and 43082:



As can be seen, 43081 is doing much better than 43082. One of the reasons for this is the effect of the $8,000, first time home buyer tax credit that attracted buyers to lower end and more affordable homes.

For our clients we provide a 14 page weekly report for the entire Westerville area...both 43081 and 43082. Please contact to get on our client list.