Bexley homes for sale, sold - market update

The Bexley Real Estate Market has been Quiet

November 29th, 2007 categories: Bexley, Condos & Lofts

This month there has not been too much happening in our neck of the woods. I was excited to see 8 homes on the Bexley, Berwick, Eastmoor realtor Association tour this morning until I realized I had seen all but two of them already - and those weren't really worth seeing anyway.

So far this November, ONE home has sold, an 1800 sq ft cape on Francis in South Bexley for $226,500. Interestingly, that home (which was a nice property) started out at $254,900 162 days prior to accepting an offer and the same home sold for $217,500 almost exactly four years earlier. (just for fun, the same home hold sold for $117,500 TEN years prior which would be a much nicer appreciation rate).

What can I say, it's been slow. To be fair though, there are 38 properties In Contract at the moment, many of which will close tomorrow. There are 97 Active Listings in Bexley, Ohio right NOW.

About a year ago today, some of the Bexley Gateway condos hit the MLS. One example of the Bexley Gateway condos would be a fourth floor 2 bed, 2.5 bath corner unit that was listed at $520,900. After 146 days, it expired and came back on the market at $549,900 in late May. It expired again this month after 185 days, as did about 8 other Bexley Gateway listings in the MLS.

Right now, the only Bexley Gateway condo units in the MLS, though all unsold units are available for sale, are units 205 and 308 which would put them near the two models. I love the unit #307 model with the superb kitchen done in black and white but I'm not a big fan of the choices in the other model, mostly decorative choices.

Unit #308 is listed at $805,900. While it boasts 2345 square feet and all that Bexley Gateway has in the way of amenities, and even if it includes over $28,000 in upgrades and a 15 year 50% tax abatement, I just cannot justify the price. Most of these prices really. So what if you have two balconies if the only views you have are the parking lot for the commercial building and the back of the Trinity Lutheran apartments? As spectacular as this project is, in my book, it's just not $343/sq ft spectacular.

Then again, you can walk to the Drexel and see a great film almost every night of the week. Did I mention Jeni's ice cream is coming to Bexley? Now if the developers would throw in free ice cream for life for every condo purchase . . . . .

of interest: Public Art AND Function? In Bexley?

Bexley Real Estate Market Update - October Homes for sale and sold

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