November 21, 2008

Columbus Ohio, North ARC, Residential Real Estate Real-time Trends-tendencies as of November 20, 2008

Posted to Phil Giessler

The stock market goes up and down every business day, most recently seen as a yoyo, with ups, downs, sling outs and stalls striking glee and terror in the minds and hearts of the many who choose to watch the televised or web provided action.

The residential real estate market can be equally as joyful or tearful but it takes longer to observe an end result. But those of us intimately concerned, in the brokerage business, are working to understand as quickly as possible the actions or inactions of buyers and sellers so that we can assist our clients and customers.

The Columbus Board of Realtors (CBR) publishes a monthly report to the local media which is spun as seen appropriate by the reporters assigned to the story. The most current report will be a month in arrears so the report out November 20, 2008 relates statistics of October 2008.

In these times of expected immediate gratification and impatience (defined as not just “now” but “right now”) there are those of us that are trying to determine the active and current “pulse” associated with the buying and selling of residential housing in the market in which we practice.
Because we have “real time reporting” of activity through the Multiple Listing Service of the CBR, certain inferences are observable. These are figures and conclusions based on current reporting. We make this effort, not for fun, but to try to help the active or potential buyers and sellers understand the best and most current information and even look a bit into the future as much as our numbers permit.

These findings are macro in scope as they are limited to the school district of the communities and include all types of housing styles; attached and detached condominiums and single family residences. I have used a 3 month time line; August 20 through November 20 for the last three years. Micro studies are able to zero in on subdivisions and/or residence style and types. Maybe I will include those in future blogs.

Click here to view some of these statistics.

Posted By: Phil Giessler

Tagged With: estate, market, real and residential

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