Toby Boyce | Delaware County Real EstateWhat Does This Mean To Me?
Well, not really too much. It looks good on a postcard and in a headline to get you to read the story, but it doesn’t really show too much. Why? The statistical sample is just too small. And with Locust Curve being split into two distinct sections – the Woods and Highlands – the percentage jump could have more to do with “where” the sales took place than actual recovery.
Quarterly Price Per Square Feet
| Quarter | Units Sold | Price Per Square Foot | Change Vs. Prev. Quarter |
|---|---|---|---|
| Quarter 2, 2010 | 3 | $94.22 | -7.31% |
| Quarter 3, 2010 | 2 | $96.08 | +1.97% |
| Quarter 4, 2010 | 4 | $81.43 | -15.25% |
| Quarter 1, 2011 | 1 | $85.40 | +4.88% |
| Quarter 2, 2011 | 4 | $71.97 | -15.73% |
| Quarter 3, 2011 | 4 | $90.13 | +25.23% |
So What Is Going On In Locust Curve?
Well the key point in Locust Curve is that the market is beginning to stabalize. The number of vacant properties in the neighborhood is at one of the lowest rates since we moved to the development in 2003. Despite a recent rush on foreclosures, most of 2011 they’ve been more of the exception than the rule this year which is another turn around to previous years.
The Good News
- Decrease in foreclosures and short sales will eventually lead to a slow rebound in prices as “traditional” sales return.
- People still want to live in the neighborhood.
- Influx of buyers with Delaware City Schools Excellent with Distinction rating.
The Bad News
- M/I opening up Phase II of Westfield Hills will be a challenge for those looking to sell at the higher end of the price range as it will pick-off buyers in that $215,000-plus pool and continue to keep our prices depressed below that level.
- Uncertainty. This is the new motto of my real estate business – it is about the only thing I am certain of anymore. The market is so fragile right now that a comment or action can derail us (i.e. the pending debt crisis that shut down real estate) again.
About Locust Curve
Locust Curve is a development 335 homes located on Delaware’s west side withh easy access to shopping, restaurants, and all the amenities that making living in Delaware, Ohio a wonderful proposition.
