2019 REAL ESTATE MARKET REPORT FOR GERMAN VILLAGE, MERION VILLAGE, SCHUMACHER PLACE, AND BREWERY DISTRICT
BY SETH JANITZKI
ABOUT THE REPORT This report was created to help give home sellers, buyers, and current owners a hyper-local snapshot into our community’s real estate market. Specializing in helping families relocate to and from Central Ohio, I take special interest in the day-to-day market activity happening throughout the North Arc neighborhoods. As Central Ohio’s northern communities continue to collect accolades for quality of life and highly accredited school districts, I have observed homeowners wish to understand what is happening in their specific community and how it compares to neighboring districts. Included in this report is a summary of both sales activity for specific price points along with data for each school district, showcasing how the market has changed over the past year. Looking forward to watching how our communities continue to evolve in 2019! Happy to help,
SETH JANITZKI ~ 2019 REAL ESTATE MARKET REPORT *DATA SOURCE COURTESY OF COLUMBUS & CENTRAL OHIO MLS ON 1/1/2019
PAGE 2
2018
Sales by Price Segment ~ PRICE SEGMENT 0-$200K ~
Neighborhood
Number of Sales
Average Days on Market
Average Price Per Square Foot
Average Sales Price
Brewery District
4
51
$236
$188,225
German Village
4
15
$209
$168,250
Merion Village
40
26
$133
$155,827
Schumacher Place
3
24
$228
$191,600
GRAND TOTAL
51
27
$153
$161,447
~ PRICE SEGMENT $200K-$300K ~ Neighborhood
Number of Sales
Average Days on Market
Average Price Per Square Foot
Average Sales Price
Brewery District
18
62
$230
$256,150
German Village
18
20
$247
$264,744
Merion Village
71
22
$194
$246,055
Schumacher Place
15
19
$208
$256,590
GRAND TOTAL
122
27
$209
$251,597
~ PRICE SEGMENT $300K-$500K ~ Neighborhood
Number of Sales
Average Days on Market
Average Price Per Square Foot
Average Sales Price
Brewery District
7
46
$219
$352,129
German Village
47
58
$271
$384,009
Merion Village
50
24
$222
$362,872
Schumacher Place
24
55
$240
$378,346
GRAND TOTAL
128
43
$244
$372,947
~ PRICE SEGMENT $500K-$750K ~ Neighborhood
Number of Sales
Average Days on Market
Average Price Per Square Foot
Average Sales Price
German Village
24
72
$280
$601,613
Merion Village
5
84
$298
$570,000
Schumacher Place
3
4
$254
$602,500
GRAND TOTAL
32
68
$281
$596,756
~ PRICE SEGMENT $750K-$1M ~ Neighborhood
Number of Sales
Average Days on Market
Average Price Per Square Foot
Average Sales Price
German Village
10
93
$333
$858,050
Schumacher Place
1
50
$224
$769,000
GRAND TOTAL
11
89
$324
$849,955
~ PRICE SEGMENT $1M-$2M ~ Neighborhood
Number of Sales
Average Days on Market
Average Price Per Square Foot
Average Sales Price
German Village
7
61
$397
$1,356,243
GRAND TOTAL
7
61
$397
$1,356,243
~ PRICE SEGMENT $2M+ ~ Neighborhood
Number of Sales
Average Days on Market
Average Price Per Square Foot
Average Sales Price
German Village
1
919
$395
$2,150,000
GRAND TOTAL
1
919
$395
$2,150,000
SETH JANITZKI ~ 2019 REAL ESTATE MARKET REPORT *DATA SOURCE COURTESY OF COLUMBUS & CENTRAL OHIO MLS ON 1/1/2019
PAGE 4
GERMAN VILLAGE
AVERAGE SALE PRICE
$563,277 FOR SINGLE FAMILY FREESTANDING HOMES ~ SINGLE FAMILY FREESTANDING HOMES ~ CHANGE
Q1 2018
Q2 2018
Q3 2018
Q4 2018
2018
# of Sales
18
36
28
13
95
7%
Avg Days on Market
122
53
52
40
64
-10%
Avg PPSF
$301
$276
$281
$320
$288
5%
Avg Sale Price
$589,800
$568,625
$499,907
$648,231
$563,277
6%
FROM ‘17
~ CONDOS/ATTACHED UNIT ~ CHANGE
Q1 2018
Q2 2018
Q3 2018
Q4 2018
2018
# of Sales
2
5
6
3
16
-33%
Avg Days on Market
79
9
27
226
65
-24%
Avg PPSF
$217
$244
$233
$270
$241
9%
Avg Sale Price
$267,500
$329,650
$263,875
$290,633
$289,900
-11%
FROM ‘17
SETH JANITZKI ~ 2019 REAL ESTATE MARKET REPORT *DATA SOURCE COURTESY OF COLUMBUS & CENTRAL OHIO MLS ON 1/1/2019
PAGE 6
SCHUMACHER PLACE
AVERAGE PRICE PER SQUARE FT.
$230 FOR SINGLE FAMILY FREESTANDING HOMES ~ SINGLE FAMILY FREESTANDING HOMES ~ CHANGE
# of Sales
Q1 2018
Q2 2018
Q3 2018
Q4 2018
2018
Avg Days on Market
7
16
6
10
39
-11%
Avg PPSF
47
52
32
29
42
17%
Avg Sale Price
$216
$233
$227
$237
$230
6%
$330,500
$359,050
$350,650
$377,970
$357,485
8%
FROM ‘17
~ CONDOS/ATTACHED UNIT ~ CHANGE
Q1 2018
Q2 2018
Q3 2018
Q4 2018
2018
# of Sales
0
2
2
3
7
75%
Avg Days on Market
N/A
24
20
1
13
-56.7%
Avg PPSF
N/A
$210
$211
$256
$220
10.5%
Avg Sale Price
N/A
$275,000
$226,926
$378,233
$305,507
13.2%
FROM ‘17
SETH JANITZKI ~ 2019 REAL ESTATE MARKET REPORT *DATA SOURCE COURTESY OF COLUMBUS & CENTRAL OHIO MLS ON 1/1/2019
PAGE 8
MERION VILLAGE
AVERAGE NUMBER OF
DAYS ON THE MARKET
27 DAYS FOR SINGLE FAMILY FREESTANDING HOMES ~ SINGLE FAMILY FREESTANDING HOMES ~ CHANGE
Q1 2018
Q2 2018
Q3 2018
Q4 2018
2018
# of Sales
36
48
42
26
152
4%
Avg Days on Market
47
17
20
28
27
22%
Avg PPSF
$174
$196
$209
$187
$193
1%
Avg Sale Price
$253,968
$279,704
$285,798
$261,182
$272,124
-4%
FROM ‘17
~ CONDOS/ATTACHED UNIT ~ CHANGE
Q1 2018
Q2 2018
Q3 2018
Q4 2018
2018
# of Sales
7
5
0
2
14
-6.7%
Avg Days on Market
14
3
N/A
9
10
-83.6%
Avg PPSF
$153
$193
N/A
$191
$173
2.1%
Avg Sale Price
$231,200
$262,480
N/A
$201,450
$238,121
14.8%
FROM ‘17
SETH JANITZKI ~ 2019 REAL ESTATE MARKET REPORT *DATA SOURCE COURTESY OF COLUMBUS & CENTRAL OHIO MLS ON 1/1/2019
PAGE 10
BREWERY DISTRICT
AVERAGE SALE PRICE
$268,744 FOR CONDOS/ATTACHED UNITS ~ SINGLE FAMILY FREESTANDING HOMES ~ CHANGE
Q1 2018
Q2 2018
Q3 2018
Q4 2018
2018
# of Sales
2
2
0
0
4
N/A
Avg Days on Market
31
251
0
0
141
N/A
Avg PPSF
$160,000
$328,450
$0
$0
$244,225
N/A
Avg Sale Price
$79.15
$167.81
$0.00
$0.00
$123.48
N/A
FROM ‘17
~ CONDOS/ATTACHED UNIT ~ CHANGE
Q1 2018
Q2 2018
Q3 2018
Q4 2018
2018
# of Sales
6
10
6
5
27
-49.1%
Avg Days on Market
106
43
17
30
49
52.7%
Avg PPSF
$219
$242
$225
$237
$233
-1.1%
Avg Sale Price
$267,983
$259,390
$249,050
$312,000
$268,744
3.8%
FROM ‘17
SETH JANITZKI ~ 2019 REAL ESTATE MARKET REPORT *DATA SOURCE COURTESY OF COLUMBUS & CENTRAL OHIO MLS ON 1/1/2019
PAGE 12
LOOKING FORWARD INTO 2019 2018 was a good year for the local real estate market and economy. As we transition further into 2019, keep an eye on the turbulent political climate, jostling interest rates, and peak market timing. With national partisan tension causing a rocky road on Wall Street, we will see similar volatility in the real estate market, especially the upper middle and luxury price points. Once this subsides, these price points should get back on track from the previous two years. As the stock market fluctuates, The Fed may refrain from raising interest rates to keep the national economy stable. Locally, this will help retain the seller’s market in the entry level through mid level price points. The luxury price point will remain in flux with the stock market and will likely move between equilibrium and a buyer’s market. For buyers, look for the local real estate market to enter into an Opportunity Market this year. This is a market where sellers in the upper middle to luxury price points become more negotiable. At the same time, entry level to middle price points remain a seller’s market. If you are looking to move up in size and price point, this is the best kind of market to do so. Higher-end sellers are more likely to accept existing home sale contingency where buyers can directly transfer equity from their current home toward the down payment on their purchase. For sellers, timing and overall condition of your home will play a much more important role. With higher interest rates and less job growth predicted for this year, there would be fewer potential buyers. It will still be a seller’s market for most price points, but just not as extreme as years past. If you know you need to sell soon, but can be flexible on the exact timing, list your home according to the micro area peak-selling season to ensure the highest and quickest sale possible. For most local markets, the peak-selling season is between March and July.
SETH JANITZKI ~ 2019 REAL ESTATE MARKET REPORT *DATA SOURCE COURTESY OF COLUMBUS & CENTRAL OHIO MLS ON 1/1/2019
PAGE 14
Key Real Estate Dates for
2019
DECEMBER 2018 NEW PROPERTY VALUATIONS RELEASED BY COUNTY AUDITOR
JANUARY 22, 2019 FRANKLIN COUNTY FIRST-HALF 2018 REAL ESTATE TAXES DUE
MARCH 1, 2019 PEAK BUYING/SELLING SEASON BEGINS
JUNE 20, 2019 FRANKLIN COUNTY SECOND-HALF 2018 REAL ESTATE TAXES DUE
JULY 13 - 28, 2019 BIA PARADE OF HOMES EVANS FARMS
JULY 31, 2019 PEAK BUYING/SELLING SEASON ENDS
SETH JANITZKI ~ 2019 REAL ESTATE MARKET REPORT *DATA SOURCE COURTESY OF COLUMBUS & CENTRAL OHIO MLS ON 1/1/2019
PAGE 16
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SETH JANITZKI ~ 2019 REAL ESTATE MARKET REPORT *DATA SOURCE COURTESY OF COLUMBUS & CENTRAL OHIO MLS ON 1/1/2019
PAGE 18
His approach with both buyers and sellers is to use data and market insight as a guide for clients to make informed decisions
ABOUT SETH Seth specializes in working with those relocating around the north arc suburbs, the luxury home market, and downtown neighborhoods where he calls Merion Village home. His interest in residential real estate comes from spending time touring properties with his grandfather who also was a residential agent. His approach with both buyers and sellers is to use data and market insight as a guide for clients to make informed decisions. Seth likes for clients to have a high level of comfort in their choices by making sure they move at their own pace and being available for them to capitalize on all opportunities. Being a member at Cam Taylor, he quickly achieved the One, Five and Ten Million Dollar Club Awards and currently ranks in the top percentile among all agents by sales volume. While earning a business degree from The Ohio State University, he interned with the football team and continues to cheer on the Buckeyes. When not with clients or at the office, Seth enjoys spending time with friends, learning what is new to do in Central Ohio, and openly admits to binge watching reality television.
SETH JANITZKI ~ 2019 REAL ESTATE MARKET REPORT *DATA SOURCE COURTESY OF COLUMBUS & CENTRAL OHIO MLS ON 1/1/2019
PAGE 20
ABOUT CAM TAYLOR REALTORS As a family-owned business since 1968, treating agents and clients like family comes second-nature. The entire Cam Taylor team gets a kick out of Central Ohio, spending a lot of their free-time shopping and eating in some of Columbus’ local businesses. Cam Taylor helps their clients buy and sell homes the right way. Focusing on helping connect home buyers to the right neighborhood for their family and lifestyle. From firsttime home buyers, tenants and those relocating to Central Ohio from across the country, our agents take pride in being leaders hyper-specialized in Columbus’ real estate market. Through Leading Real Estate Companies of The World®, we also help connect those buying and selling in other cities and countries with similar agents.
SETH JANITZKI ~ 2019 REAL ESTATE MARKET REPORT *DATA SOURCE COURTESY OF COLUMBUS & CENTRAL OHIO MLS ON 1/1/2019
PAGE 22
CONTACT SETH (614) 980-7181 SETH@CAMTAYLOR.COM