Market Conditions for Westerville, Ohio Reported by Roberta Kayne, REALTOR, CRS, ABR, RRS Updated May 22, 2012.

Current Market Rating: 3 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 3 1 2 3 4 5 Falling Rising

Westerville: There are 462 single family and condominium properties for sale. Average list price for homes currently for sale is $211,405 with an average of 105 days on market for the active properties. There are 242 homes in contract or contingent status.

CENTRAL OHIO BUYERS HUNGRY FOR GOOD HOMES

The number of homes listed for sale over the past two months is lower than the previous year suggesting the market may be beginning to adjust itself. The 3,629 homes added to the market in April were 7.0 percent lower than April, 2011 and the 3,466 new listings in March were 10.4 percent lower than the previous year.

The number of new listings January through April (12,588) is now 4.2 percent lower than the same period last year.

The number of residential homes for sale continues to decline - which is what the market needs. The inflated inventory we experienced after the housing boom of the mid 2000's caused home prices to decrease. But 2011 saw a real stabilization of those inventory levels. As a result, home sale prices are rising.

The average sale price of a central Ohio home in April was $165,324 - up 8.4 percent from last year and 7.7 over the previous month. Although inventory levels are down and sale prices are up, there appears to be no shortage of buyers.

Central Ohio home closings in April outpaced the previous month as well as the previous year. The number of April home sales (1,748) was up 5.7 percent over March of this year (1,653) and was 2.6 percent higher than homes closed in April of 2011.

Home sales this year (January through April) now exceed 2011 by 6.6 percent.

Even though inventory is down and prices are up, there's a solid market of motivated buyers out there right now. If a house comes on the market that is in good condition and is realistically priced, it's sold within days - and sometimes within hours.


Location Characteristics: The first settlers arrived in Blendon Township in 1806 from Windsor Connecticut and settlement grew in the area between the banks of Alum Creek and Big Walnut Creek. By 1856 the village had been platted and a college founded through the efforts of the Westervelts, early settlers from Dutchess County, New York. The citizens rewarded the philanthropy of the family by naming the first post office Westerville and thus naming the village.

In the 1850s, while the country was struggling with the slavery issue, many Westerville residents were rishing their freedom and family finances to aid runaway slaves. Several family homes, including the Hanby House, were stops on the Underground Railroad. Westerville's favority son, Benjamin Hanby was a well-known composer of the day.

Westerville gained notoriety in the 1870s with a series of saloon bombings that became known as the "Whiskey Wars." The strong "dry" reputation of the community was one of the factors that persuaded the Anti-Saloon League to locate their national printing center and headquarters in the town. Founded in 1895, the Anti-Saloon League was a non-partisan, temperance organization whose sole mission was to eradicate the saloon and liquor traffic. With their arrival and the printing of tons of anti-alcohol information, the small town of 2,000 became known as the "Dry Capital of the World." Westerville became a city in 1961. The community spreads through northeast Franklin County and into Delaware County and today has 37,000 residents.

Westerville is no longer a bedroom community, but pockets will still remind you of yesteryear. Westerville's Uptown District, near Otterbein College boasts many homes from the 1800s and a plethora of specialty and antique shops and other attractions. Proud of its heritage and roots, Westerville has restored and renovated community treasures like the historic Everal Barn. The City of Westerville is nationally recognized as one of "America's Best Places to Live" by Money Magazine, its second consecutive ranking on the list. Featuring fantastic safety services, more than 40 parks, a community recreation center and 23 miles of leisure paths, Westerville offers unmatched services, programs and opportunities to our residents, visitors and businesses.

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