The Columbus and Central Ohio MSA new and resale homes report show that the market remains strong and is getting stronger. Homes sales for the quarter were up 17.6 percent over first quarter last year and pending sales are up 19.3 percent. Median price at $135,000 for March was up 4.9 percent over the $128,650…
The City of Westerville is looking at a plan to more effectively utilize the 1,100 parking spaces in the Uptown district. The plan is to create mid-block alleys and redesign the north – south alleyways. The north – south alleys could take some of the pressure off of State Street which currently gets jammed at…
There were 22,915 homes sales for all of 2012 and that was up 15.5 percent from 2011. These are the best numbers since 2007. Average sales price was up 7.2 percent to $167,459 for 2012 and December was $158,898, which is up 7.5 percent from December 2011. Median price was also up 8.7percent to $144,500…
There’s a lot going on around here aside from the I-70 / I-71 project. IF we have a mild winter as we did last year, it will get these projects moving along toward completion early in 2013 except for the freeway reconstruction. That will take a little bit longer. Columbus Commons, 600 Goodale, Harrison West,…
My home town of Westerville Ohio was named the fifth friendliest town in the United States according to Forbes and a Nextdoor.com. Westerville was the only town in Ohio to make the top 25. Some of this is attributed to the number of park, Westerville Community Center, 4th Friday celebration in the old uptown Westerville,…
New data show major rebound in both commercial and residential construction led almost entirely by multifamily and single family development. Developers and builders started construction on the highest number of single family homes and apartments since July 2008. Multifamily rose 10% in October 2012 to an annualized rate of 285,000 units. Single family building application…
Columbus and Central Ohio October home sales were up for the tenth consecutive month with sales of 1,990 up 24.8 percent from October 2011 according to the Columbus Board of Realtors. Average price was $163,764, which is a 10percent increase from last October. New listings were up 12.1 percent, putting the current unsold inventory at…
CoStar’s CCRSI index show strong pricing gains across all commercial real estate segments for September 2012. Third quarter commercial real estate transactions closed with with strong pricing gains. CoStar’s two broadest indexes that measure aggregate pricing movement for commercial real estate properties, the CCRSI’s U.S. Value-Weighted Composite Index and the U.S. Equal-Weighted Composite Index, posted…
The Columbus and Central Ohio unemployment rate has fallen to 5.7 percent from 7.4 percent in September 2011. Obviously, that’s a huge improvement and it’s not because of folks who have given up looking for work. The seven county Central Ohio area has returned 48,000 of the 53,000 jobs lost during the downturn. The regions’…
Prices are still trending upward. Homes prices in the Columbus and Central Ohio area are up from same month last year with an average price of $169,413. That’s up 8.1 percent over September 2011. 1,859 homes in Columbus and Central Ohio sold during September 2012, which is 2.5 percent increase over August 2012. Year to…
What I have been experiencing over the last two or three quarters in regards to triple net or absolute net, single tenant retail seems to be reality according many in the industry, including Mark Heschmeyer of CoStar News. Where are all of the net leased retail opportunities? There’s been strong activity over the last 18…
Reis Reports announced that the 126,022 unit Columbus / Central Ohio multifamily market vacancy rate had fallen to 6.1 percent by the end of the second quarter 2012, which is the latest quarter we have numbers for. That’s down 30 basis points over the prior quarter and down a whopping 190 points from second quarter…
The National Association of Realtors sums it up pretty well in the attached August 2012 Commercial Real Estate Outlook when they opine that the economy has gone on vacation. That’s pretty much how I would describe it too. True, the triple net or absolute net, single tenant, national investment grade credit tenant retail is still…
Great news: homes prices in Columbus and Central Ohio hit their highest in five years with a average price of $186,781, which is a whopping 10.3% higher than July 2011. The higher priced areas saw the biggest gains, which is even better news in my opinion. 2,096 Columbus and central Ohio homes sold during July…
The multifamily segment of commercial real estate continues to strengthen in spite of new supply coming on line according to Randyl Drummer of CoStart news. Demand still far outstrips demand. For the sixth consecutive quarter, the National Multi Housing Council Quarterly Survey of Apartment markets showed improvements across all four indices. The indices measure supply,…
Residential home sales are gaining strength in Columbus and Central Ohio according to the Columbus Board of Realtors. May 2012 homes sales were up for the fifth consecutive month to 2,070, up 5% from the 1,971 sales in May 2011. Year to date is 7,966 up 6% from 74,51 in the same time period last…
I did a short post on the Dublin, Ohio, Bridge Street development a couple of weeks ago. I’ve since located much more detail regarding the long term development, which is at the link thanks to Walker Evans of the Columbus Underground blog. The development will bordered by I-270 on the north and west and State…
Tonight, Saturday and Sunday on the new Scioto Mile Riverfront as we celebrate the 200th birthday of Columbus Ohio. This is one of the great events in Columbus Ohio so hopefully we have nice weather for the weekend. For those folks who haven’t yet visited the new riverfront, here’s your chance. I hate to admit that…
Many folks are aware that Starwood Capital Group agreed to acquire $1 billion in seven shopping centers from Westfield and KKR. As Starwood is starting to acquire retail commercial real estate we expect other REITs to do the same across the country as an expected surge in new retail properties are expected to hit the…
A strengthening residential market seems to be the rule around central Ohio over the last year and its getting stronger. First quarter 2012 homes sales for Central Ohio were up 7.1 percent over first quarter 2011 with 4,045 this year versus 3.776 last year. The average price for March 2012 was $153,557, which is up…