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

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

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

Dublin: At this time, there are 455 single family and condominium properties for sale. The average list price for homes currently for sale is $320,184 with an average of 164 days on market for the active properties. There are 101 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.

ZIP Codes: 43016, 43017

Location Characteristics: Dublin was originally part of 2,000 acres of land given to Lieutenant James Holt by the US Government as payment for service in the Revolutionary War.

After several real estate transactions, John Sells and his family purchased 400 acres of land along the Scioto River in the early 1800s. This area was platted as a village in 1810. Little did he realize that his Village of Dublin would develop into one of the most progressive communities in Central Ohio. Today, the site of Sells' original purchase is known as Historic Dublin. Through well-managed growth, Dublin has preserved its historic past, while enriching the quality of life within the community. Early 19th century architecture and dry limestone fences bordering its roads add to Historic Dublin's heritage. Many of its original buildings are listed in the National Register of Historical Places.

In the 1970s, Dublin was transformed from a rural village into a suburban business center, due largely to the completion of the I-270 outerbelt and development of the Muirfield Village Golf Club and residential community. The quality of Dublin's commercial construction was established early with the development of Metro Center, the headquarters of Ashland Chemical Company and the Midwestern Volkswagen complex. With rapid business and residential growth, Dublin officially became a city in August 1987.

Profile of the Average Dubliner
36 to 45 years of age, married with minor children living at home, owns single-family home, employed full-time in a variety of professions, trades and service positions with 30 percent employed in healthcare and education fields

Park Land
38 parks on more than 1,000 acres

Economic Vitality
Dublin is home to more than 3,000 businesses

Average Home Price (2005)
$347,633

Income Tax Revenue

The city collected more than $57 million in income taxes in 2005, with approximately 90% of this revenue resulting from business activity in Dublin.

City Financial Ratings

Aaa from Moody's Investors Service and AAA from Fitch Ratings

2005-2009 Capital Improvements Program designates $107.1 million in funding for transportation, parks/recreation and utilities projects

Average Highs and Lows
January 34 degrees/17 degrees July 85 degrees/61 degrees

Average Monthly Precipitation
3.14 inches

Average Yearly Precipitation
37.58 inches

Population Growth - City of Dublin

Year Population
1970 681
1980 3,855
1990 16,366
2000 31,392
2006 (projected) 38,909

Source: Mid Ohio Regional Planning Commission, City of Dublin, 2000 Census



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