Cental Ohio Housing Report April 2024

Closed sales increased 13 percent year over year and total inventory spiked 28 percent when compared to last April in the most recent housing report provided by Columbus REALTORS®. Last April there were 2,388 homes for sale in central Ohio and this April that number rose to 3,054 which is 1.3 months of inventory. A balanced housing market contains 5-7 months of total inventory. While still firmly entrenched in a seller’s market, the signs pointing to more choices for potential buyers is positive news. On average, homes are selling slightly over asking price at 100.3 percent of last list price received. “It’s great to see our total inventory climb over 3,000 units,” said Columbus REALTORS® President Scott Hrabcak. “We haven’t been at that level in the month of April since 2020. There is still plenty of competition out there but as we head into the summer months it’s great that REALTORS® will have more options for buyers.” Another positive sign is the 17.2 percent increase in new listings in the month of April. There were 3,257 new homes that came on to the market. For the year, there have been 10,471 new listings, which is an 11.9 percent increase year over year. The median sales price is also up 5.2 percent when compared to last year. That number sits at $317,513 which is a high-water mark for 2024. Last month, the median sales price was $310,000 in central Ohio. *Of the closed sales in April, 63 percent were financed with conventional loans. All cash sales accounted for 20 percent of sales this month. FHA and USDA loans were utilized in 12 percent of home purchases this month while VA loans accounted for 5 percent of sales. In the local spotlight for April, there were 38 sales in Marysville marking an 81 percent increase year over year. There were 60 sales in Delaware City School District, marking a 77 percent increase over April 2023 and Union County was up 67 percent over last year with 75 closed sales. The 75 sales ranked fourth among central Ohio counties, trailing only Franklin County (1,250 sales), Delaware County (242 sales), Licking County (179 sales), and Fairfield County (162 sales). Connie Sadowski, Realtor with Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Marion, Morrow, Pickaway, and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Muskingum, Perry, and Ross counties. Contact Connie Sadowski, Realtor with questions 614-943-0025 Search for homes ConnieSellsOhio.com #1 Team Top 1% of Realtors The Powell Buehler Group Coldwell Banker Realty

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