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A client used those words recently, “pricing disconnect.” I can’t tell you the context of the conversation.. confidentiality you know…

Yes there is a “disconnect” between the prices of homes on the market and the prices of homes that sell. In the graph above the green line is obviously what homes for sale are priced at. The red line is the price that homes sold for.

There is a disconnect.

The graph is for homes (single family and condominium) in Franklin and Delaware Counties. The chart shows the past 15 months ending September 2007.

If a seller priced their home based on the competition and the neighbors are not priced competitively (with what has sold very, very recently) … the new listing will have that same pricing disconnect …  Priced the same as the rest of the neighborhood which is not selling.

Above is the frame fro the table of stats for the graph above with the difference between the sold price and the final list price (the list price the seller was at when they went under contract) for the past 15 months ( Full Table) Homes need to be priced within about 3 to 4% of the market value. Yes some buyers will make an offer on an overpriced listing and get it at a greater discount. That is probably true in all markets (sellers market, normal market, buyers market…

September 2007 homes in Central Ohio (Franklin and Delaware counties sold with in 96% of list price.

If a “seller” doesn’t need to sell and prices the house to reflect that, they will be with a large school of homeowners who while their home is on the market they really are not sellers.

Isn’t the September 2007 average sale price 81% of the average list price?

Real Living HER is the only brokerage in Central Ohio with TrendGraphix graphs….

Columbus is a stable housing market. One of the best in the country. Says who? Says Forbes.com and Moody’s Economy.com!

From the Columbus Board of Realtors:

“Last year was the third highest number of sales ever in Central Ohio. Yes, it was down 4.5% from 2005 and the average sale price is down a `whopping’ 1%, but it was still a good year. Today, compared to 2004, only 3 years ago, we have sold close to the same number of houses and the average sales price is up nearly 3%. “

If you like ads click here… for an ad from the Columbus Board of Realtors. It’s a .pdf

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Ad … hey if it was Forbes.com there’d be pop ups and Steve Forbes would come walking across the screen occasionally to sell you something…

Here’s a graph for the Greater Columbus Area (Franklin and Delaware Counties… to me those two counties are all that matters… most of the time… apologies to outlying counties.)

Click and the graph will enlarge. The graph matches the numbers on the table below:

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Click on the graph to the left and it will open up.  The light green bars are inventory by month for Franklin County homes.  The dark green bars on the graph are the properties sold by month for the past 15 months.  The red line is homes that are “Pending” or under contract. The stat in the table below are for the past 15 months for Franklin County residential (single family and condominium) sales and inventory.

The numbers on the graph match the numbers in the table below . 

What do the table and graph say about Franklin County?  It’s still a buyers market! 

Average list and sale prices are virutally unchanged from this time last year.  Price per square foot is down a smidge from this time a year ago. 

Homes that sell are on the maket 11 days longer than a year ago.  There is almost nine months of inventory on the market!!  8.3 months of homes available. based on sales in the month of August. 

Homes are selling within 97% of list price so sellers have to be priced right.

Community Profile  Franklin and Delaware County communities

Search for Homes - You  Search all homes on Real Living HER’s site, these are not all Real Living HER listings.  These are all Real Real Living HER’s current listings plus many from other local real estate companies. 

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 Click on the graph that shows home sales and inventory  and it will open up.  The light green bars are inventory by month.  The dark green bars on the graph are the properties sold by month.  The red line is the number of homes that are “Pending” or under contract by month for Delaware County for the past 15 months.  These are single family and condominium homes.

It’s a buyers market in Delaware County with 9.9 months of inventory on the market. A year ago at the end of Autgust there was 8.9 months inventory of homes available in Delaware County.  Hopefully there were sales which were not reported and there is not more than 13 months  inventory available based on ”Pending” sales.   

Home sales in August were down slightly from a year ago.  Inventory is up by 64 properties compared to a year ago, but virtually unchanged from the end of July 2007. The average list price is only down $3 from this time last year and average sale price is $12 lower than at the end of August 2007.  Price per square foot is down $7.

Days on market is 7 days longer than it was at the end of August 2006.  

Median sale price is up $7.   

Community Profile  Franklin and Delaware County communities

Search for Homes - You  search all homes on Real Living HER’s site, these are not all Real Living HER listings.  These are all Real Real Living HER’s current listings plus many from other local real estate companies. 

Let Me Help You Find Your Dream Home
 

Click on the graph at the left to open it up.  The light green bars are inventory, the dark green bars are sales.  The red line in the graph is pended (under contract homes.)

This graph and the table below are Delaware County homes (single family and consominium for the 15 months ending July 31, 2007.  There were less properties on the market in the end of July 2007 than there were at the end of June 2007.   The previous year the inventory went up slightly from June to July.

There was 9.7 months of inventory of homes available at the end of July, identical to a year earlier.  Months of homes available based on pended sales (in contract) is even worse (unless you are a buyer!)  It is still a buyers market overall in Delaware County.

Pricing is identical to a year ago, when you look at list price however average sale price is $287,00 this year, was $326,000 a year ago.  Average price per square foot is down about $8.

Days on market at the end of July was only up by a few days in 2007 over 2006.  

Homes are selling within 97% of list price, so they need to be priced to sell.

Median price is down $24,000. 

Community Profile  Franklin and Delaware County communities

Search for Homes - You  Search all homes on Real Living HER’s site, these are not all Real Living HER listings.  These are all Real Real Living HER’s current listings plus many from other local real estate companies. 

Let Me Help You Find Your Dream Home
 

The graph and table of Franklin County real estate sales and inventory are from Trendgraphix. Real Living is Central Ohio’s only subscriber to TrendGraphix.  The data is from the Columbus Board of REALTORS® MLS.  These statistics are single family and condominium properties only.

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