A review was performed on the single-family residential sales volume and marketing time statistics.  Two time frames were reviewed (November 1, 2004 through November 1, 2005 and November 1, 2005 through November 1, 2006) and a percentage of comparison in change was calculated. The three categories of statistics reviewed included: Location, Sales Price Change (from one time frame to the next), Percentage of Change/DOM or Days on Market, and a cumulative Percentage of Change for the ending 12 month period.

 Geographical Area        Sales Price Change              Days of Marketing Change

Area A: Blue                     4% increase                              12% decrease

Area B: Orange                  0% change                               18% increase

Area C: Yellow                   3% decrease                            19% increase

Area D: Pink                    10% increase                              0% change

Area E: Green                   8% decrease                            17% increase

Rural/Bartholomew            0% change                               11% decrease

The previously mentioned statistics are based on sales of 1034 units from November 1, 2004 through November 1, 2005 and 1105 units for November 1, 2005 through November 1, 2006. This represents an increase of 7%, an overall positive indicator. The total sales price average for the six areas identified and the cumulative days on market for those areas reflect a 0% change from the first 12-month period to the next 12-month period. Certain sections of the community and county reflect different short-term trends. 

Area E, in green, encompasses the Tipton Lakes area. This area has experienced more decline than any other part of the county. Tipton Lakes has had the higher sales price average of any area within the defined areas in the county for some time. Columbus has suffered from a lack of new/upper income jobs and has lost executive positions in this income level for the past several years. This coincides with a reduction in new construction growth in the Tipton Lakes area for higher priced homes. This factor has caused a decrease in sales price average for the area. Along with the previously mentioned factor, foreclosure activity has negatively affected property values in the other remaining areas of the county. The foreclosure activity increase began 4 plus years ago and still remains a negative influence on property values in the Columbus area currently.

I appreciate the opportunity to share this brief and limited overlook of residential property in Bartholomew County.  If you have further interest or questions, please do not hesitate to contact me at tscheidt@donrscheidt.com or 812-372-8478 ext. 17.

Tim Scheidt, SRA, Manager Columbus Office

Don R. Scheidt & Co., Inc.