Prices Looking Up in Delaware Ohio Real Estate Market
Delaware, Ohio’s single-family real estate market has shown signs of improvement over the past several months and in April those signs exploded into numerous blooms after March showers.
Single-Family Market in Delaware, Ohio
The real estate market in Delaware, Ohio, is on the up-tick. Inventory is currently down to 6.49 months which is neutral in terms of being classified as buyer’s vs. seller’s market. Another great sign is that nearly 47% of the properties on the market either were in contract or sold during the month of April.
Sure Sales Are Back But What About Price
In April, well … no. But, we have a little nugget of positive news on that front as well. Over the past six months, the average home that’s sold in Delaware was for $88.57 per square foot. In April, 77 homes went in contract contingent upon finance and inspections at $99.70 per foot. That’s a great big jump and as the chart shows it is happening across the board, with the exception to under contract listings, to homes in contract. Delaware, Ohio should be in the $100 per foot neighborhood in May and above that in June and July.
Condominium Market Remains Soft
As the single-family market in Delaware, Ohio, has seen signs of regaining its strength the condominium market remains extremely soft with more than 17 months of inventory currently on the market.
That 17 months of inventory creates an extreme buyer’s market in the Delaware, Ohio, condominium market and it also shows in the number of homes currently in contract where only18.6 percent of the inventory wasn’t active in April.
In April, four condominiums sold at the average price of $110,975 or $81.99 per square foot after being listed for $118,225 or $87.64. That sold price is 13.1 percent lower than the average price for the 57 active listings at $92.71 per square foot ($139,900).