Skip to main content

Columbus Ohio Housing Market










Columbus home buyers take note: You are looking in the  "most popular" housing market, per  a new ranking by Realtor.com

The listing service based its lineup largely on the number of views per listed property in each market, adjusted for market size.

Central Ohio homes attracted 2.4 times the number of views on average than homes across the U.S., according to the report.

Why are you looking at national sites for local housing info, look here:

Columbus Real Estate: Holding Steady

August 2024 saw 2,738 closed sales in the Columbus & Central Ohio Regional MLS, a 4.8% decrease from the previous year. Despite this slight decline, inventory continued to rise. Compared to July, August sales were down 2.4%. However, 2024 is still outpacing 2023 by 3.2% year-to-date, with 19,313 sales through August.

Rate Cut Sparks Hope for Autumn Home-Buying Boom

Recent developments in mortgage rates could potentially trigger an Autumn surge in the local market. Freddie Mac reported the 30-year fixed mortgage rate dropped to 6.2%, the lowest since February 2023 and significantly below the 7.79% peak in October 2023. On September 18, the Federal Reserve announced a 0.5% rate cut, marking the first decrease since 2020.

The Numbers Game: Inside Columbus’ Housing Metrics

The central Ohio housing market remains steady, with approximately 3,500 new homes entering the market monthly and sales just below that figure. Homes stayed on the market for 22 days, up from 18 days in August 2023. Buyers are experiencing a slight discount, with homes selling at 99.5% of the last list price. The median sales price increased 1.7% year-over-year to $322,450 in August, down from its June peak of $334,900.

Suburb Spotlight: Grove City Leads, Bexley Booms

South-Western City School District (Grove City) was the busiest suburb with 173 sales at a median price of $310,000, representing a 17% increase from August 2023. Bexley saw a significant surge with 20 sales, up 233% year-over-year, at a median price of $625,000. Plain City, one of central Ohio’s fastest-growing villages, recorded 20 sales with a median price of $451,684.

🏘 There were 4,588 homes for sale in August 2024 🏘

This is up 33.6% from 3,434 homes for sale during the same time last year.

View Our Current Listings Here

💲 The Average Price / Square Foot in August 2024 was $203.98 💲

💲 This price is 2.3% more expensive compared to the $199.35 Price / Square foot the same time last year  💲

🏡  The average real estate listing stayed on the market  for 22 days in August 2024  🏡

This is 22.2% longer than the 18 day period of the same time last year

💲 The average sale price for these listings was  $372,162 (up 1.4% from last year) 

💲  The median sale price for these listings was  $322,450 (up 1.7% from last year)

See the graph below to see how the median sale price has changed, year over year, since 2013 in Columbus 👇

Closed Home Sales vs Homes in Contract in Columbus

New Listings & Single Family Sales in Columbus

Percentage of Original List Price Received

This graph represents what percentage of homes sell for their original list prie

Condo Sales in Central Ohio

columbus ohio september 2024 housing report at a glance

Home sales down up 4.8% this year in Columbus compared to the same period last year. However, with the recent rate drop of September 2024, it will be worth seeing how this affects demand for homes. Many economist are predicting an increase in real estate buying and selling. If you’d like help with buying or selling your home, check out our resources below.

Click the link below to get our buyer’s guide on how to sell your home for top dollar in Columbus, Ohio.

Home Seller's Guide

How to Buy a Home in Columbus

Click the link below to get our buyer’s guide on how to buy your home in Columbus by getting mortgage ready

Home Buyer's Guide

Connie 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 conniesadowski.com

Comments

Post a Comment

Thanks for commenting, please call me if I can answer questions or help in anyway.

Popular posts from this blog

Don’t Be Afraid to Sign Buyer Representation Agreement

Image
"Don’t Be Afraid to Sign" in its entirety originally appeared in the June 2024 issue of COMO Business Times Connie Sadowski, Realtor is a leader in  the industry and has been using Buyers Exclusive Representation agreements since 2017 to explain how she works and how she earns her professional fees. The real estate  industry has been buzzing with a recent federal class action lawsuit settlement. One of the settlement’s most significant outcomes is the requirement of Buyer’s Representation Agreements.  Starting in August 2024, all real estate professionals who are members of the National Association of REALTORS will be required to have a signed Buyer’s Representation Agreement before showing a buyer property.  These agreements, which allow a real estate broker to represent a buyer’s interest in a transaction, have been used for years. However, some buyers are hesitant to sign an agreement before viewing a home, but it’s to their benefit to do so.    Every potential buyer of a
Read more

Central Ohio Housing Report July 2024

Image
  COLUMBUS, Ohio (Aug 22, 2024)—  Columbus Realtors reports closed sales are up 12 percent, and inventory has surged to its highest point in five years in the latest housing statistics for July issued by Columbus REALTORS®.   There were 2,806 closed sales in July, a 12 percent uptick over July 2023. The most significant rise came in total inventory, which increased from 3,137 homes for sale in July 2023 to 4,325 homes for sale in July 2024. That’s a 37.9% increase year over year. It also marks the largest number of homes for sale in a single month since November 2019.   The median sale price in central Ohio is $327,250, a 3.9% increase year over year. Last month, it reached an all-time high in the region at $334,900.   “The fact that there are over 1,200 more homes available on the market right now than this time last year is a positive for prospective home buyers,” said Columbus REALTORS® President Scott Hrabcak.   “Columbus remains an in-demand seller’s market, but having nearly two
Read more

Central Ohio Housing Report August 2024

Image
August 2024 Central Ohio Housing Report from Columbus REALTORS® As mortgage rates reach their lowest point since February 2023, inventory in central Ohio steadily increases but still very low inventory remain, we are in a strong Sellers market. Lower interest rates historically  bring a flood of new buyers into the home buying market. With school in session a month now, we will also see more Buyers re-enter the market in the next week. Sortable Housing Stats by School District/County Central Ohio Housing Statistics COLUMBUS, Ohio (Sept. 19, 2024)— August saw 2,738 closed sales in the Columbus & Central Ohio Regional MLS, marking a 4.8% decrease year over year. Despite the slight decline in sales year-over-year, inventory continued its steady rise in the latest housing statistics issued by Columbus REALTORS®. August was comparable to July in terms of closings. Last month, there were 2,806 sales, resulting in a 2.4% decline compared to August. Despite the slowdown in August, year to
Read more