Driving Park, Columbus Ohio 43206 Year over Year Comparison SFR

[Robert Ellis]

By popular demand we are continuing the neighborhood analysis of year over year values. A client asked me to make a post recently about the driving park neighborhood which is a part of 43206 in Columbus and directly adjacent to Southern Orchards and Old Oaks. Let's find it on a map first:

Why look at this area? Like most of the areas we've been looking at this is a neighborhood close to downtown that has seen plenty of homes being renovated. As new investors are being priced out of Southern Orchards in Columbus they are forced to continue to go east which takes us to driving park. 

Let's look at the 2018 stats (map first):

Number of closed residential sales: 88

Average sale price of a SFR: $77,589.27 ($58.58 price per sq ft)

Average days on market: 32.9

Highest Sale Price in 2018: $240,000 (908 Studer Avenue)

Now let's look at the 2019 numbers: 

Number of closed residential sales: 105

Average sale price of a SFR: $102,961.66 ($78.09 price per sq ft)

Average days on market: 42.07

Highest Sale Price in 2018: $255,000 (889 Studer Avenue)

Trends that I notice:

32.70% year over year average price increase!!! If that doesn't get you excited I don't know what will. As inventory has a shortage, these properties are moving eastward and competition has continued to fuel property value increase. The highest price for the neighborhood also increased which is a great sign. Studer is a great street with year over year highest property sales. Days on market increased but still heavily a sellers market. More transactions in the area as well increasing by over 20% year over year.