Columbus OH Real Estate Market Report June 2020

The Columbus housing market is HOT!!🔥🔥🔥 Homes are selling fast, home prices are up, and inventory is way down.

Keep reading to see how the Columbus Ohio Real Estate Market did in May and to view trends. We’ve also included “Today’s Stats” to help you see where we are as of this writing on June 15, 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!

The number of Homes For Sale in May 2020 was 2395 units.
• Up 0.8% compared to April 2020
• Down 28.3% compared to May 2019

The number of Homes Listed in May 2020 was 2918 units.
• Up 17.2% compared to April 2020
• Down 27.4% compared to May 2019

The number of Homes Closed in May 2020 was 2299 units.
• Up 10.4% compared to April 2020
• Down 23.9% compared to May 2019

The number of Homes Placed Under Contract in May 2020 was 3328 units.
• Up 36.8% compared to April 2020
• Up 7% compared to May 2019

The Average Price per Square Foot on Sold homes trend is Appreciating.* In May 2020 the Average Price Per Square Foot was $135.

• 0% compared to April 2020
• Up 3.8% compared to May 2019

*Based on 6-month trend – Appreciating/Depreciating/Neutral

The average Days On Market trend in the Columbus area is Falling.*

The Average Days on Market in May 2020 was 25 days.
• Down 7.4% compared to April 2020
• 0% compared to May 2019

The Sold/Original List Price Ratio remains Steady* at 98% for May 2020.

• Down 1% compared to April 2020
• 0% compared to May 2019

*Based on 6-month trend – Rising/Falling/Remains Steady

The Median Sold Price trend is Appreciating* The Median Sold Price for May 2020 was $240k.
• Up 4.3% compared to April 2020
• Up 4.3% compared to May 2019

The Average For Sale Price trend is Appreciating.* The Average For Sale Price in May 2020 was $418k.
• Up 5% compared to April 2020
• Down 0.2% compared to May 2019

The Average Sold Price trend is Appreciating.* The Average Sold Price in May 2020 was $269k.
• Up 3.5% compared to April 2020
• Up 2.3% compared to May 2019

*Based on 6-month trend – Appreciating/Depreciating/Neutral

It is still a Seller’s Market* in Columbus, Ohio!!!

The Months of Inventory based on Closed Sales in May 2020 was down to just 1.😮
• Down 8.8% compared to April 2020
• Down 9% compared to May 2019

*Seller’s market: less than 3 months of inventory based on closed sales

The Absorption Rate based on Closed Sales in May 2020 was 96.
• Up 9.5% compared to April 2020
• Up 6.1% compared to May 2019

*Seller’s market: 33.33% and above based on closed sales

Use this table to quickly see how the Columbus, Ohio area real estate market is doing.

May remained in a Seller’s Market in Central Ohio. Based on “Today’s Stats” in the above tables, June is also likely to be a Seller’s Market

Housing inventory is extremely low, and the market needs listings. If you have thought at all about selling your home in Central Ohio, please call or text Realtor Rita Boswell at 614-830-9767.

Questions 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.

Interest rates will likely remain low for the foreseeable future, and home values are predicted to continue to rise in Columbus over the long term. So, even though it’s a Seller’s Market, buying a home remains a great investment.

One of the first steps of buying a home is getting pre-approved. Connect with a mortgage professional to get started with pre-approval.

“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.”