Central Ohio Housing Report - January 2025


Sold in Westerville, Ohio The Powell Buehler Group can sell your home. Call 614-943-0025 Connie Sadowski, Realtor

Real estate continues to be extremely local, and while the central Ohio housing market began 2025 on a more subdued note, showing a 3.3% decrease in closed sales compared to January 2024, new listings increased by 7.4%, while total inventory surged by 34% year over year.

Traditionally considered one of the coolest months, both literally and figuratively, for real estate, January recorded 1,506 closed sales in the Columbus & Central Ohio Regional MLS. This is the lowest number of closed sales in January for central Ohio since 2015, when 1,317 sales were noted.

According to Bankrate.com, the average 30-year fixed mortgage rate in January 2025 was 7.09%, up from 6.72% in December 2024, as reported by Mortgage Reports.

“We continue to observe some positive indicators in inventory growth in central Ohio,” said Buffie Patterson, President of Columbus REALTORS® for 2025. “January is generally a slower month for most Midwestern markets. We hope to see a decrease in rates, and if that happens, we anticipate a subsequent increase in sales. We remain very optimistic about our outlook for 2025.”

National Association of REALTORS® Chief Economist Lawrence Yun’s 2025 forecast backs up Patterson’s claim. In his recent forecast, he anticipates a 9% increase in national home sales in 2025, with mortgage rates likely stabilizing around 6%.

At the end of January, the inventory of homes and condos in the Columbus & Central Ohio MLS rose to 3,886, marking a 34% increase from January 2024, when it was at 2,890. The median sale price increased by 4.8% to $299,900, while days on the market also rose, going from an average of 35 days in 2024 to 43 days in 2025.

Home buyers also experienced an average savings of 1.7% at closing, as homes sold for 98.3% of the final listing price received.

Closed sales in Columbus (city) decreased by 11.6% compared to last January. Of the 1,506 sales this month, 840 were from Columbus (Corp.) and the Columbus City School District.

Some of our top-performing communities in January included the Marysville Exempted Village School District, which saw a 57% increase from last year with 22 closed sales. Fresh off the Anduril Industries announcement, Teays Valley Local School District experienced a notable 92% rise with 23 closings. Grove City proper reported a 44% improvement year over year with 36 closings.

Connie serves all of Central Ohio including 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 homes ConnieSadowski.com


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