‘Tis the season for holiday movies, snow days, and beautiful decorations. Believe it or not, it’s also a great time to buy a home!
Keep reading to see real estate trends that make winter an ideal time to buy.
- 🏘️ 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
- 2020 Outlook
🏘️ Central Ohio Homes For Sale, Listed, Sold, & Pending
The number of Homes For Sale in November 2019 was 3655 units.
• 
Down 9.7% compared to October 2019
• Down 6.1% compared to November 2018
The number of Homes Listed in November 2019 was 1953 units.
• Down 35.6% compared to October 2019
• Down 4.9% compared to November 2018
The number of Homes Closed in November 2019 was 2230 units.
• Down 11.4% compared to October 2019
• Down 1.6% compared to November 2018
The number of Homes Placed Under Contract in November 2019 was 2475 units.
• Down 8.7% compared to October 2019
• 
Up 27% compared to November 2018
Quick Guide: For Sale vs. Sold vs. Pending
📐Central Ohio Average Price Per Square Foot
The Average Price per Square Foot on Sold homes trend is Depreciating.* In November 2019 the Average Price Per Square Foot was $126.
• Down 0.8% compared to October 2019
• Up 5% compared to November 2018
*Based on 6-month trend – Appreciating/Depreciating/Neutral
Quick Guide: Average Price Per Square Footage
📉Central Ohio Days on Market
The average Days On Market trend in the Columbus area is Rising.*
The Average Days on Market in November 2019 was 30 days.
• Up 11.1% compared to October 2019
• 0% compared to November 2018
The Sold/Original List Price Ratio is Falling* at 96% for November 2019.
• 0% compared to October 2019
• 0% compared to November 2018
*Based on 6-month trend – Rising/Falling/Remains Steady
Quick Guide: Average Days On Market & Sold/List Price %
💲Central Ohio Housing Prices
The Median Sold Price trend is Depreciating* The Median Sold Price for November 2019 was $212k.
• Down 2.3% compared to October 2019
• Up 6% compared to November 2018
The Average For Sale Price trend is Depreciating.* The Average For Sale Price in November 2019 was $356k.
• Down 0.8% compared to October 2019
• Up 0.8% compared to November 2018
The Average Sold Price trend is Depreciating.* The Average Sold Price in November 2019 was $356k.
• Down 0.8% compared to October 2019
• Up 0.8% compared to November 2018
*Based on 6-month trend – Appreciating/Depreciating/Neutral
Quick Guide: Average Price For Sale and Sold
🏘️ Central Ohio Months Of Inventory
It’s still a Seller’s Market* in Columbus, Ohio!
The Months of Inventory based on Closed Sales in November 2019 was 1.6.
• 0% compared to October 2019
• Down 5.8% compared to November 2018
*Seller’s market: less than 3 months of inventory based on closed sales
Quick Guide: Months Of Inventory | Median Price
📈Central Ohio Absorption Rate
The Absorption Rate based on Closed Sales in November 2019 was 61.
• Down 1.9% compared to October 2019
• Up 4.8% compared to November 2018
*Seller’s market: 33.33% and above based on closed sales
Quick Guide: Absorption Rate
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
If you’re thinking about selling your home in the near future, now is the time to prepare. We have been in a seller’s market for some time, and we will likely remain in a seller’s market in 2020.
Questions about the home selling process? Check out our Seller FAQ section.
Please Note: Market conditions are different from one neighborhood to another and one price point to another. Call or text Columbus Realtor Rita Boswell at 614-830-9767 to learn more about market conditions in your specific community.
Get Your Home’s Value InstantlyColumbus OH Home Buyers
Statistically, this is a great time to find a home. In fact, February 23 is the best day to buy a home if you’re looking for a discount. Of course, homebuyers who closed on that date would have had to start searching for homes in December or January.
Additionally, a recent report from the National Association of Realtors identified Columbus Ohio as one of the top ten U.S. markets expected to outperform over the next 3-5 years. If you buy smart, your home’s value can still go up.
It is still a seller’s market, though. So, make sure your financials are in order before finding the perfect home. Connect with a mortgage professional to get pre-approved.
Use a Top Home Buying Agent to help you find homes that fit your needs and budget. Be ready to make a competitive offer when you find the right home.
Browse Today’s Newest Listings2020 Outlook
As we close the book on 2019, let’s look into 2020. There are plenty of predictions for the real estate market in 2020.
For Columbus, we will likely continue the overall trend of a low-inventory fulled Seller’s Market, especially in the lower price ranges. There simply aren’t enough existing homes to meet demand, and builders nationwide face headwinds that keep them from building enough homes.
Here is a collection of more general U.S. real estate outlooks for 2020:
About 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.”