Why Westerville, Ohio Home Prices and Values are Hot

Westerville, Ohio real estate agents

Home prices in the city of Westerville, Ohio have increased 4.6% over the past year (summer 2013 through summer 2014) and, according to real estate analysis from Zillow.com, are expected to increase an additional 2.1% over the next year, through August of 2015.

This falls squarely in line with the trends that we here at the Kendle Team are seeing as we help homeowners and buyers with home purchases and sales in Westerville.

A peak through our data shows that the median value of a house in Westerville is $204,300.

We recently sat down with several clients seeking to buy a house in Westerville and discovered that the average listing price for homes in the area is currently $227,900 while the median sale price for a Westerville, Ohio house is $200,765.

Homeowners in Westerville also appreciate the historic charm of the area, with many houses and buildings listed on the National Register of Historic Buildings, including the photo below of the “Gideon Hart House in Westerville” by Nyttend. (Own work. Licensed under Public domain via Wikimedia Commons.)

Westerville, Ohio real estate agents

On a recent Friday afternoon, we drove clients to showings in the Polaris area, then to County Line Road, back west to North State Street and then south through the heart of Westerville and looked at houses for sale near Otterbein University, before continuing south to a showing near Schrock Road.

Along the way, we noticed a few houses in foreclosure, but overall, the Westerville foreclosure rate of 2.1% (per 10,000 houses) is far lower than the Columbus number of 5.1% and the national average of 4.3%. This low foreclosure rate is just one of the reasons that the Westerville market is so strong as it indicates extreme stability in Westerville neighborhoods and an exceptionally desirable place to buy a house and live.

The Westerville housing market is viewed as “Very Healthy” by analysts, who cite the city’s housing health as 7.7 on a scale of 10. This number takes into account the percentage of homes with negative equity (13%) and the number of homeowners who are delinquent on their mortgage (2.3%).

For those who seek single family homes, Westerville is indeed exceptional, with single family residences comprising 81.3% of available housing.

Westerville, Ohio realtors

The lifestyle and amenities available in Westerville have a huge impact on why the Westerville housing market is so hot. For example, the city was recently named the “Seventh Happiest Suburb in America” by Movoto.com, a ranking determined by factors like:

Low stress (low unemployment, short commutes, low cost of living,)
Personal safety (very few violent crimes)
Residents making greater than $25,000 a year
Married residents
Home ownership
Residents with a bachelor’s degree or higher
Convenience of amenities

These are all positive factors that all of us on the Kendle Team can attest to as we socialize, live, and work in Westerville, while also serving clients buy and sell houses in this great suburb of Columbus, Ohio.

If you’d like more information on the Westerville housing market or simply advice on buying or selling a house here, please feel free to contact me – Ron Kendle – at 614-325-6295 or Ron@KendleTeam.com.

Ron Kendle & The Kendle Team are part of the ReMax Consultant Group.

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