The Columbus housing market continues to be a heavy seller’s market. Home prices are rising and inventory is shockingly low.
Read below to find out how the Columbus, OH housing market is doing and see the trends that are occurring. “Today’s Stats” are also included so you can see how things have changed as of the time of writing (August 15th, 2020).
If you need to buy or sell a home, please contact us at 614-830-9767. You can always start your home search online from the comfort of your couch at RitaBoswellGroup.com. You can even find sold homes on our site!
- 🏘️ Central Ohio Homes For Sale, Listed, Sold, & Pending
- 📐Central Ohio Average Price Per Square Foot
- 📉Central Ohio Days on Market
- 💲Central Ohio Housing Prices
- 🏘️ Central Ohio Months Of Inventory
- 📈Central Ohio Absorption Rate
- Central Ohio Housing Market Report At A Glance
- Central Ohio Home Sellers
- Columbus OH Home Buyers
🏘️ Central Ohio Homes For Sale, Listed, Sold, & Pending
The number of Homes For Sale in July 2020 was 2088 units.
• 
Up 6.4% compared to June 2020
• 
Down 40.3% compared to July 2019
The number of Homes Listed in July 2020 was 3206 units.
• Up 7.1% compared to June 2020
• Up 0.4% compared to July 2019
The number of Homes Closed in July 2020 was 2926 units.
• Up 9.5% compared to June 2020
• Up 1.9% compared to July 2019
The number of Homes Placed Under Contract in July 2020 was 3548 units.
• Up 16.2% compared to June 2020
• Up 30.6% compared to July 2019
📐Central Ohio Average Price Per Square Foot
The Average Price per Square Foot on Sold homes trend is Appreciating.* In July 2020 the Average Price Per Square Foot was $142.
• Up 1.4% compared to June 2020
• Up 7.6% compared to July 2019
*Based on 6-month trend – Appreciating/Depreciating/Neutral
📉Central Ohio Days on Market
The average Days On Market trend in the Columbus area is Falling.*
The Average Days on Market in July 2020 was 21 days.
• Down 12.5% compared to June 2020
• Up 5% compared to July 2019
The Sold/Original List Price Ratio is Rising* at 99% for July 2020.
• 0% compared to June 2020
• Up 1% compared to July 2019
*Based on 6-month trend – Rising/Falling/Remains Steady
💲Central Ohio Housing Prices
The Median Sold Price trend is Appreciating* The Median Sold Price for July 2020 was $255k.
• Up 2% compared to June 2020
• Up 10.9% compared to July 2019
The Average For Sale Price trend is Appreciating.* The Average For Sale Price in July 2020 was $425k.
• Down 3.2% compared to June 2020
• Up 3.7% compared to July 2019
The Average Sold Price trend is Appreciating.* The Average Sold Price in July 2020 was $292k.
• Up 2.8% compared to June 2020
• Up 11% compared to July 2019
*Based on 6-month trend – Appreciating/Depreciating/Neutral
🏘️ Central Ohio Months Of Inventory
It is still a Seller’s Market* in Columbus, Ohio!!!
The Months of Inventory based on Closed Sales in July 2020 was down to just 0.7.😮
• 0% compared to June 2020
• Down 41% compared to July 2019
*Seller’s market: less than 3 months of inventory based on closed sales
📈Central Ohio Absorption Rate
The Absorption Rate based on Closed Sales in July 2020 was 140.1
• Up 2.9% compared to June 2020
• Up 70.6% compared to July 2019
*Seller’s market: 33.33% and above based on closed sales
Central Ohio Housing Market Report At A Glance
Use this table to quickly see how the Columbus, Ohio area real estate market is doing.
Central Ohio Home Sellers
The market remained a seller’s market throughout July and based on these graphs, it looks like August will continue the trend. Keep in mind that the market tends to cool in the fall and winter. With so much pent up demand, it’s hard to say whether this fall will be typical. But, if you’re thinking about selling your home, you might want to do so sooner than later. Homes generally take a little longer to sell and prices usually fall slightly.
Housing inventory is incredibly low, and Central Ohio seriously needs listings! If you have a home in the Columbus area you would like to list, please call or text Realtor Rita Boswell at 614-830-9767.
Get Your Home’s Value Instantly See What Buyers Are Searching ForQuestions about the home selling process? Check out our Seller FAQ section.
Please Note: Market conditions vary between neighborhoods and price points. Call or text Columbus Realtor Rita Boswell at 614-830-9767 to learn more about market conditions in your specific community.
Columbus OH Home Buyers
Even though it’s a seller’s market, interest rates are predicted to remain relatively low, giving home buyers more purchasing power. Since home values are expected to increase in the coming years, buying a home is still a good investment and a way to build personal wealth. If you’re thinking about buying a home, call or text the Rita Boswell Group at 614-830-9767. We have expert Buyer’s agents who can find your dream home, even in this challenging market. The market usually cools off a bit in the fall and winter, and that can be an ideal time to buy. So, it’s a good idea to start preparing now.
Browse Price Reduced Homes In Central OhioOne of the first steps in buying a home is getting pre-approved. Connect with a mortgage professional to get started with pre-approval.
Browse Today’s Newest ListingsAbout Central Ohio Real Estate Market Reports
“At the Rita Boswell Group, our goal is to provide home buyers and sellers with the most recent, in-depth market information possible.
Our report is based on data supplied by the Columbus Board of Realtors or its MLS. Information is deemed reliable but not guaranteed. Specific data points provided above may be adjusted, which will be reflected in future reports.
Our Central Ohio real estate market reports cover the counties of Franklin, Delaware, Fairfield, Licking, Madison, Pickaway, and Union. For market information on a specific community, contact Realtor Rita Boswell at 614-830-9767.”