Updated statistics for homes and condos in Dublin Ohio Schools show a much more normal trajectory during the “year after” the tax credits expired. You see the normal dip of inventory and sales through the colder times of the year and the expected increase in inventory in the March through June time frame and then those homes begin to sell off over the year and fewer homes come available leading to a decrease in home and condo inventory. There was a larger than expected dip in pending homes and condos in Dublin Schools in the month of August. I think with the start of school that the number of for sale homes and condos will decrease quite a bit as we move into the slower times of the year. Stay tuned for more frequent updates as we move through the fall and winter.
The trends of Dublin, OH Real Estate are similar to that of the overall market of Columbus, OH. You see that the trends in the Dublin market mirror that of the overall market. This is most notable with the large increase in the pendings during the last month of the tax credit (April 2010) and a significant rise of home sales in the months of May and June following that increase in pendings from April. This graph also clearly supports the idea that we didn’t really increase sales much over last year with the tax credit but simply “sold ahead” a couple of months. Once August numbers come out it should give us a more clear picture of how many months we sold ahead and if we are back into a normal market. The one thing that we do see is that the inventory in Dublin is the highest it has been in the last 15 months which is a sign that the sellers feel this is a better time to sell, it remains to be seen whether the currently low rates are going to be enough to get many buyers “off the fence” to offset the rise in inventories before the slower winter season kicks in.