Market Conditions for Worthington, 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: 2 1 2 3 4 5 Falling Rising

Worthington: There are approximately 269 single family and condominium properties for sale. Average list price for homes currently for sale is $220,587 with an average of 83 days on market for the active properties. There are 177 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.

ZIP Code: 43085

Location Characteristics: Worthington is located in the center of the state at Ohio's crossroads - the intersection of U.S. State Route 23 and State Route 161 and affords easy access to all parts of the Ohio and the nation. A suburb of Columbus, the state capital, Worthington offers all of the attractions and conveniences of a big city combined with the charm of small town living.

Worthington was one of the Midwest's first planned communities, blending commerce, residential life, education and faith. Founded in 1803, Worthington reflects its dignified New England heritage with authentic brick sidewalks leading to the central Village Green where many of the city's original commercial buildings and churches still stand proudly. Today, as in ages past, people come to meet and greet on the Village Green and stroll the streets of downtown Worthington.

Worthington was settled in 1803 by several New England families from the Farmington River Valley of Connecticut and Massachusetts, under the leadership of pioneer businessman James Kilbourne. In 1802, Kilbourne organized a group of men to form the Scioto Company and headed west from Granby, Connecticut to explore and find land to create a new community. With help from his friend, Thomas Worthington, Kilbourne purchased 16,000 acres of land on behalf of the Scioto Company for $1.25 an acre. When Kilbourne returned to New England, he planned the layout for the village. He platted a New England-type village of 164 lots around a central public square, which was designated for religious and educational purposes, as well as a spot for community gatherings.

In September 1803, eleven families left their Connecticut homes and traveled by wagon train to their new home in Ohio. It took six weeks for the families to travel the 600 miles to their new home, arriving in October of 1803. They named their new village Worthington, in honor of Thomas Worthington, one of Ohio's first senators and a future governor of Ohio, for his assistance in locating the tract of land that would become Worthington.

In 2003, Worthington celebrated its Bicentennial with a number of spectacular signature events, including a cross-state recreation of the Wagon Train that brought settlers to Worthington and an elegant costume ball, where attendees dressed in period costume, and enjoyed food, dancing and entertainment reminiscent of the early 1800's. Throughout the year-long Bicentennial, Worthington residents honored the foresight of the community's founders, who settled Worthington based on the values that still hold true today.



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