Market Conditions for Bexley, Ohio Reported by Roberta Kayne, REALTOR, CRS, ABR Updated December 28, 2011.

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

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

Bexley: There are 65 single family and condominium properties for sale. Average list price for homes currently for sale is $533,148, with an average of 192 days on market for the active properties. There are 20 homes in contract or contingent status.

HOME SALES REMAIN ELEVATED IN CENTRAL OHIO

November marks the fifth consecutive month of increased home sales in central Ohio this year after the first-half of the year struggled to keep up with increased sales from 2010 due to the home buyer tax credits. According to the Columbus Board of REALTORS®, 1,406 homes sold in November which is seven percent more than the previous year.

Additionally, the number of residential homes scheduled to close was up over 37 percent, from 1,341 last year to 1,843 last month (November 2011).

We're finding that sellers recognize the challenges of today's market and are realistically pricing their homes to sell. Buyers are responding well to the pricing and, of course, the record low interest rates. It's still a great time to buy a home.

Homes in central Ohio this year have sold for an average of $157,032, down 2.5 percent from the average sale price in 2010, but up over five-percent from the average sale price in the first quarter of 2011. The average price of a home sold in November was $153,673, up 3.1 percent from the previous month ($149,082).

The number of homes listed for sale last month (1,949) is 20 percent less than listings added to the market in November 2010 (2,439). The total inventory of homes available for sale in central Ohio was 12,675 at the end of November, which is down 27.5 percent from one year ago.

As a result, the month's supply, a measure of inventory that estimates how many months it would take to sell the entire home inventory, fell 28.5 percent to 7.4, down from 10.3 last year.

A healthy month's supply for our market would be around 6.5. So the decrease in inventory is a positive sign of market recovery. Plus, based on the concept of supply and demand, when we have too many homes on the market, homes are more likely to sell for less.


Location Characteristics: Bexley is a city in Franklin County, Ohio, United States. Incorporated as a village in 1908, Bexley is a fine, old tree-lined suburb of Ohio's Capital, Columbus, located on the banks of Alum Creek. A college town bisected by the National Road, Bexley resulted from a merger of neighborhoods including the prestigious Bullitt Park, established in 1889, and the Lutheran community centered on Capital University and Trinity Lutheran Seminary.

A community of nearly 13,000, Bexley is considered one of the most desirable areas in Greater Columbus with a diverse range of housing options, from family starters to estate-sized mansions, including the Ohio Governor's Mansion, Jeffrey Mansion "Kelveden", and the estate used for the President of the Ohio State University. Located in northern Bexley, the Governor's Mansion — originally built as a private residence in 1925 and given to the state in 1955 — has been home to Ohio's governors since 1957.

Bexley boasts several excellent public and private educational institutions including: Bexley City Schools; Columbus School for Girls; Saint Charles Preparatory School; Capital University; and Trinity Lutheran Seminary - one of the region's few seminaries.

Bexley High School is well-known as one of the top schools in the state of Ohio. The Lions, as they are known, have been state basketball, soccer, and tennis champions. Bexley has been the home of many prominent citizens including several recent governors of Ohio, including Bob Taft and Senator Voinovich, Bob Greene, the Chicago columnist who wrote "Be True to Your School", children's author R.L. Stine, and billionaire Leslie Wexner - the wealthiest man in the State of Ohio, and many captains of business and industry. Bexley is home to several churches and synagogues, several historic sites and pieces of outdoor sculpture, the famous Rubino's pizzeria, the Drexel arthouse movie theater, and several miles of the National Road. Bexley is also the site of a number of Alfred Tibor's sculptures, including ones at the Trinity Lutheran Seminary and the Agudas Achim Synagogue. Adjoining Bexley is the Franklin Park Conservatory.

As of the censusGR2 of 2000, there were 13,203 people, 4,705 households, and 3,387 families residing in the city. The population density was 2,080.7/km² (5,398.4/mi²). There were 4,974 housing units at an average density of 783.9/km² (2,033.8/mi²). The racial makeup of the city was 92.45% White, 4.48% African American, 0.17% Native American, 0.99% Asian, 0.05% Pacific Islander, 0.47% from other races, and 1.39% from two or more races. Hispanic or Latino of any race were 0.92% of the population.

There were 4,705 households out of which 40.9% had children under the age of 18 living with them, 59.9% were married couples living together, 9.4% had a female householder with no husband present, and 28.0% were non-families. 23.7% of all households were made up of individuals and 10.0% had someone living alone who was 65 years of age or older. The average household size was 2.59 and the average family size was 3.09.

In the city the population was spread out with 27.3% under the age of 18, 12.5% from 18 to 24, 24.4% from 25 to 44, 24.9% from 45 to 64, and 10.8% who were 65 years of age or older. The median age was 36 years. For every 100 females there were 88.6 males. For every 100 females age 18 and over, there were 83.6 males.

The median income for a household in the city was $70,200, and the median income for a family was $83,363. Males had a median income of $56,573 versus $39,851 for females. The per capita income for the city was $37,375. About 3.1% of families and 4.6% of the population were below the poverty line, including 2.7% of those under age 18 and 6.5% of those age 65 or over

Bexley, Ohio was named at the suggestion of an early resident, Mr. Kilbourne, in honor of his family's roots in Bexley, England. The village of Bexley, Ohio was incorporated in 1908 when prominent citizens of Bullitt Park along Alum Creek, including former Mayor of Columbus and industrialist Hon. Robert H. Jeffrey, agreed to merge with the mostly Lutheran community of Pleasant Ridge located around Christ Lutheran Church and the adjoining Lutheran seminary. Bullitt Park had been founded in 1889, when Logan M. Bullitt of Philadelphia submitted his first plat (1891) for the area. Wealthy citizens of Columbus continued to build urban townhouses and country homes to the east along Broad Street (the National Road) and Town (now Bryden), extending out to Franklin Park. By the 1890's, several large homes took root across Alum Creek in the Bullitt Park area, whose borders include the aforementioned mansions and park, as well as the campus of the Columbus School for Girls, an exclusive private school. Camp Bushnell was overlaid for several months on the unsold lots of Bullitt Park in 1898, centered at Drexel Circle, bringing new utilities to the area, and subsequently, more home building. By 1909, Bullitt Park and the Lutheran community south of Main Street decided to merge neighborhoods and incorporate as the Village of Bexley. Later, with growth, the village of Bexley became the City of Bexley.



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