Dublin approves new development The land is partially agricultural now, but is surrounded by other housing developments.

 

Home prices surged the most on the record in the third quarter, according to a report Tuesday from the Federal Housing Finance Agency. fueling demand for housing, prices jumped 3.1% compared to the prior quarter. That was the biggest gain in records dating to 1991, according to FHFA.

Compared to 2019, prices were up 7.8% in the three months through September, the biggest jump since 2006.

The housing market has been booming during the pandemic in the U.S., with cheaper borrowing costs and the desire for more space to spread out fueling a surge in purchases.

Dublin Ohio real estate Prices for homes have soared across the U.S. despite the economic uncertainty from Covid-19. The gains have been driven in part by low inventory of houses for sales.In a separate report on Tuesday, the S&P CoreLogic Case-Shiller index of values in 20 of the largest metropolitan areas climbed 6.6% from a year earlier. That beat expectations and was the biggest gain since 2014.

The pandemic temporarily froze the real estate market in March, but housing has rebounded to bolster the broader economy. While sales would typically slow down this time of year, demand has remained strong as buyers look to take advantage of low rates.

“The delayed spring homebuying season fueled sales well into October and past the time when they would normally begin to slow down,” said George Ratiu, an economist at Realtor.com “Heading into winter, demand continues to be strong.”
Housing in Dublin, Ohio
The median home cost in Dublin is $397,600. Home appreciation the last 10 years has been 29.4%. Home Appreciation in Dublin is up 3.7%.

Average Age of Homes
- The median age of Dublin real estate is 24 years old
The Rental Market in Dublin
- Renters make up 20.2% of the Dublin population
- 1.1% of houses and apartments in Dublin, are available to rent

The houses would be about 3,000 square feet and cost $400,000 to $500,000.

King and Mitchell have lived at Ballantrae since 2009. He said the development matches their own lifestyle.

“This (development) will be for those folks in their late 50s who might want the space of a house and not be stuck with a condo association,” King said after the council meeting. “They want to live in a boutique community (and) get into something that is spacious, but still have the freedom.”

The “modern farmhouses” that would go up there would include exposed stone foundations, hardy plank architecture, white and black windows and metal roofs on porch overhangs, King said.

The houses will be one and two-story designs and have three-car garage options and patios.

The land is partially agricultural now, but is surrounded by other housing developments. The property has an appraised value of $683,000 according to the Franklin County auditor.
Dublin council members had questions during the process about architectural specifications of the patios, fences, building materials and landscaping on the development. The developer has a cost-sharing agreement between the homeowner’s association and the city for maintenance of the stormwater basins after some conversation with council.