Here is a summary of the listing and bidding statistics of HUD Homes in Central Ohio.
The first chart shows the Number of Columbus HUD homes available to owner occupants (red) as compared to those open to all bidders (green). You can see that there are 2 times as many Columbus houses available to home owners at any time than to investors, and this ratio was pretty steady since the beginning of the year.
The other chart shows the changes in Median and Average Listing Prices of Columbus HUD Homes. The numbers are between $70k and $80K. They are a little cyclical and going up and down once a month.
The third chart shows how the purchase price of Columbus HUD Homes drops when a house has been listed for a while. On the horizontal axis you can see the number of days a HUD home was listed. The vertical axis shows the purchase price relative to the list price (%). Say this number is 80%; this means that HUD accepted a purchase offer of 20% less than the asking price.
You can see that at days 5 and 10 many offers get accepted. These are the deadlines for owner occupants (10 days when the property was listed the first time, 5 days after a relist). You can also see that quite a few of these homes sell for more than list price (larger than 100%). As a HUD Home sits on the market for 20 or 30 days, the acceptable offers drop to below 80%.
Detailed listing statistics for this week’s HUD homes are below:
Total homes available: 115 (last week: 119)
Owner occupants: 77
All bidders: 38
New listings: 30
Price reduced or re-listed: 47 -> these are what we call “boomerang” homes
Median Price: $72,000 (last week: $76,500)
Average Price: $75,104 (last week: $79,580)
Highest Price: $229,000
Lowest Price: $4,500
Homes less than $50,001: 40 (last week: 36)
Between $50,001 & $100,000: 47 (last week: 52)
More than $100,000: 28 (last week: 31)
Thanks for reading our Columbus HUD Homes Blog
Posted by: Susanne Novak, ABR, FIS, GRI
Columbus Realtors specializing in
HUD Homes, Shortsales, Investment Real Estate
(614) 975-9650
