Columbus OH Real Estate Market Report September 2021

The Columbus area continued to maintain a seller’s market throughout August. Inventory is near record lows and houses are being snatched up quickly. The number of new listings dropped by 14% in August while pending homes moved up over 16%. Meanwhile, for sale prices fell in August, but sold price trends are still appreciating. Without more inventory, home prices cannot fall much if at all from here.

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 (September 14th, 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 August 2021 was 1956 units.
• Down 1.3% compared to July 2021
• Down 2.8% compared to August 2020

The number of Homes Listed in August 2021 was 3553 units.
• Down 14% compared to July 2021
• Up 7.6% compared to August 2020

The number of Homes Closed in August 2021 was 3328 units.
• Up 2.9% compared to July 2021
• Up 6% compared to August 2020

The number of Homes Placed Under Contract in August 2021 was 3951 units.
• Up 16.3% compared to July 2021
• Up 21.1% compared to August 2020

The Average Price per Square Foot on Sold homes trend is Appreciating.* In August 2021 the Average Price Per Square Foot was $160.

• Down 2.4% compared to July 2021
• Up 13.5% compared to August 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 August 2021 was 10 days.
• 0% compared to July 2021
• Down 50% compared to August 2020

The Sold/Original List Price Ratio Is Rising* at 101% for August 2021.

• Down 1.9% compared to July 2021
• Up 2% compared to August 2020

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

The Median Sold Price trend is Appreciating.* The Median Sold Price for August 2021 was $288k.
• Down 0.7% compared to July 2021
• Up 15.2% compared to August 2020

The Average For Sale Price trend is Depreciating.* The Average For Sale Price in August 2021 was $393k.
• Down 2% compared to July 2021
• Down 6.2% compared to August 2020

The Average Sold Price trend is Appreciating.* The Average Sold Price in August 2021 was $323k.
• Down 1.8% compared to July 2021
• Up 12.2% compared to August 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 August 2021 is 0.6.
• 0% compared to July 2021
• 0% compared to August 2020

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

The Absorption Rate based on Closed Sales in August 2021 was 170.1%
• Up 4.2% compared to July 2021
• Up 9% compared to August 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.

As we enter fall and winter, expect the market to cool slightly. The Columbus, Ohio real estate market usually slows down in the fall and winter. If you’re thinking about selling your home soon, please reach out to us. Buyers are waiting.

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.

According to a recent survey, 48% of renters worry they won’t ever be able to buy a house. We know the market is challenging for buyers, but please don’t give up hope! We’ve got a few hacks to help homebuyers find homes without the FOMO (Fear Of Missing Out) element.

Many homebuyers think that we’re in a bubble, and if they can just hold out a bit longer the bubble will burst. Unfortunately, that’s not likely. As we see in the above report, inventory remains an issue. Without a significant increase in inventory, any distressed properties will get snapped up, which puts a floor under the 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.

One of the first steps in 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.

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