The Fall 2013 University Commons Market Report
At the present time there are eighteen (18) active listings in University Commons; the total number of available properties increased by one (1) since our last report. This total includes fourteen (14) four bedroom units with asking prices ranging from $79,900 to $92,000; and three (3) two bedroom units with asking prices ranging $72,000 to $74,900, respectively. There is one (1) studio unit with the asking price of $49,500. Three (3) new listings came on the market since our last report, and there have been no price reductions. There has been two (2) new closed transactions occur since our last report. The new closed transactions included: unit 705, a four bedroom unit which sold for $80,000 and unit 1601, a four bedroom unit, which sold for $82,000.
Ohio University reported a record high enrollment at the beginning of the Fall Semester. According to University President McDavis, “OU received 20,771 applications, an approximate 19 percent increase over last year”. University Commons felt the effects with a significant increase in traffic during the month of August with many students searching for last minute housing. The majority of these late applicants were Graduate students and we were able to accommodate them with individual leases in 4 bedroom units. “This year’s freshman class grew nearly 9.5 %” according to Craig Cornell, vice provost for Enrollment Management and “was the largest, most diverse and highest quality in the history of the University”.
University Housing is a full service real estate brokerage offering resale service and rental management service. If you decide to sell, give us the opportunity to put the University Housing Real Estate Team to work for you. Our unique “team” approach and creative marketing plan is focused on one objective. Finding the Buyer for you!