August 2010

Columbus MSA Volume increased 105.6% in Q2 over Q2 2009 Signs of recovery or signs of good product, price and locations? According to the Binns Real Estate report (Binns Real Estate Services) Schottenstein Real Estate Group led condo sales in the Columbus MSA in quarter 1 and 2 in 2010. Schottenstein Real Estate Group has three condominium locations in central Ohio compared to competitors like Lifestyle Communities, Village Communities and EPCON with multiple communities throughout central Ohio. All three Schottenstein Real Estate condo communities were in the top five strongest selling communities in Q1 and Q2 – with Tremont Club in Hilliard being the top selling community for the year with a total of 37 sales to date. According to the Binns report Schottenstein Real Estate Group had 71 sales through June 30 with an average sales price of $200,834. Market share in Q1 increased 25 percent over Q1 2009 and sales volume increased 32.6 percent over same period in 2009. Q2 market share increased 17.6 percent while sales volume increased 105.6 percent over Q2 2009. According to Schottenstein Real Estate Group President Brett Kaufman the strong sales during one of the most challenging housing market in decades is a direct result of paying attention to the fundamentals of what buyers want – great locations, quality product with value pricing, flexible floor plans with upgraded customization in communities with superior amenity packages.