Columbus OH Real Estate Market Report November 2021

The Columbus area maintained a seller’s market through October and into November. Inventory is still near record lows and houses are being snatched up quickly. New listings are still trending down, and sold price trends are still appreciating.

BOTTOM LINE: We NEED more listings in order for the market to balance out.

Read below to find out how the Columbus, OH housing market is doing and see what’s going on with the market at the moment. “Today’s Stats” are also included so you can see how things have changed as of the time of writing (November 15th, 2021).

If you need to buy or sell a home, please contact us at 614-830-9767. You can always begin your home buying journey online from the comfort of your home at RitaBoswellGroup.com. You can even find sold homes on our site!

The number of Homes For Sale in October 2021 was 2020 units.
• Up 2.8% compared to September 2021
• Down 9% compared to October 2020

The number of Homes Listed in October 2021 was 2925 units.
• Down 11% compared to September 2021
• Down 6.6% compared to October 2020

The number of Homes Closed in October 2021 was 2989 units.
• Down 8.1% compared to September 2021
• Down 2.1% compared to October 2020

The number of Homes Placed Under Contract in October 2021 was 3354 units.
• Up 7.6% compared to September 2021
• Up 17.1% compared to October 2020

The Average Price per Square Foot on Sold homes trend is Appreciating.* In October 2021 the Average Price Per Square Foot was $161.

• 0% compared to September 2021
• Up 13.4% compared to October 2020

*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 October 2021 was 13 days.
• Up 8.3% compared to September 2021
• Down 27.8% compared to October 2020

The Sold/Original List Price Ratio Is Falling* at 100% for October 2021.

• Down 1% compared to September 2021
• Up 1% compared to October 2020

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

The Median Sold Price trend is Appreciating.* The Median Sold Price for October 2021 was $275k.
• Down 1.8% compared to September 2021
• Up 10% compared to October 2020

The Average For Sale Price trend is Depreciating.* The Average For Sale Price in October 2021 was $393k.
• Up 1.3% compared to September 2021
• Down 1.3% compared to October 2020

The Average Sold Price trend is Appreciating.* The Average Sold Price in October 2021 was $313k.
• Down 0.9% compared to September 2021
• Up 9.8% compared to October 2020

*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 October 2021 is 0.7.
• Up 16.5% compared to September 2021
• 0% compared to October 2020

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

The Absorption Rate based on Closed Sales in October 2021 was 148%
• Down 10.6% compared to September 2021
• Up 7.6% compared to October 2020

*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.

The Columbus real estate market usually cools off during the holiday season, but inventory is still too low to disrupt such a strong seller’s market.

If you are selling a home during the holiday season, don’t take the seller’s market for granted. It is still important to properly price and prepare your home if you want to sell it fast for top dollar. Read “5 Holiday Home Staging Tips”

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.

The holiday season may still give you an opportunity to find your ideal home. There tends to be less competition, and home prices tend to fall (though they probably won’t fall much this year).

Homebuyers are still finding and buying homes, but it may take longer than expected. Patience, preparedness, and perseverance are MUSTS right now for home buyers.

Some homebuyers think that we’re in a housing bubble and that if they can just wait it out, the bubble will burst. Unfortunately, that’s probably not the case, at least not in the near term. As we see in the above report, low inventory continues to hamper the market. Without a significant increase in housing inventory, any foreclosures or short sales will get bought up, which will support the strong market. Read “Are We In A Housing Bubble” to learn more.

If you’re thinking about buying a home, call or text the Rita Boswell Group at 614-830-9767. We can help you find your dream home, even in this difficult market. The market is so competitive right now, you will definitely want a skilled agent working for you.

As a buyer, you can give yourself an edge by educating yourself on market conditions and strategies to deal with a competitive market.

The most important step in preparing to buy a home is to get 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.

See property values, inventory, market data, and demographics for your local Central Ohio community.