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Condo market better in city than ‘burbs
Mandie Trimble
For many people the housing market is not the best place to be right now. It’s almost inevitable that at least once a day one will hear something about home foreclosures, the credit crunch and the R word – that’s recession.
Ken Gold is the director of the Center for Real Estate Research and Education at Ohio State University. Gold said he’s not surprised that a condominium community in Harrison West is doing so well. He said that’s because areas near downtown Columbus are the hot place to be right now. Gold said downtown condos attract young professionals, who are often first-time home buyers, empty-nesters and people new to city. He said it’s condos in the suburbs that will be tough to sell.
While it may be easier for someone trying to sell a condo in say Victorian Village or Short North, Gold said it’s going to take longer – everywhere. But sale prices in the suburbs could suffer.
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Condo market better in city than ‘burbs
By: Walker
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i’ve appraised a few in phase I, which sold out pretty quick. it’s a nice community, not way overpriced, close to the highway, osu, downtown, short north, connected to the olentangy bike trails and park system. they have a pool, clubhouse with bars, fitness center, meeting rooms, park space. perfect for those who want the urban lifestyle but not right at their front door. it’s kind of like a lifestyle communities development, but a little more dense and not out in the exurbs.
the urban core neighborhoods have done fairly well considering everything that’s going on in this shitty market. it’s the trend, people are moving back to the city. i’ve actually talked to a few people who want to move downtown or nearby but can’t get rid of their condos or houses out in the burbs. it’s a nationwide trend and it’s not going to stop anytime soon. the downtown and inner core neighborhoods will weather all downturns somewhat well for a while now when compared with the burbs. i’m anxious to see what the next big round of development will bring when this downturn ends.
I live in Harrison Park. I love it. All of my neighbors love it. The best part about it is that all of the residents in the community are friends. They have happy hours that lots of the homeowners show up to, and it’s very dog friendly.
just out of curiosity, did you move in from the burbs or just graduate? i always like to get a good idea of where people are coming from, for demographics sake.