Despite the cooling weather, there’s no reason to be scared of the Central Ohio real estate market this October. The numbers from September just came in, and it is clear that the market continues to be strong. Keep reading to geek out on all the charts and graphs.

Number Of Homes For Sale, Sold, Pending, & Newly Listed in Central Ohio

Homes For Sale in September 2017: 4271 units.
• ⬆️Up 0.6% compared to August 2017
• ⬇️Down 12.4% compared to September 2016

Homes Listed in September 2017: 2776 units.
• ⬇️Down 18.2% compared to August 2017
• ⬆️Up 0.7% compared to September 2016

Homes Closed in September 2017: 2523 units.
⬇️Down 18.4% compared to August 2017
• ⬇️Down 8.1% compared to September 2016

Homes Placed under Contract in September 2017: 2977 units.
• ⬇️Down 5.8% compared to August 2017
• ⬆️Up 24% compared to September 2016

Central OH Real Estate Report Sept 2017 Graph of Homes For Sale, Sold, Pending, and Newly Listed

Central OH Real Estate Report Chart of Homes For Sale, Sold, Pending, and New Listing in Sept 2017


Average Price Per Square Foot of Sold Homes in Central Ohio

The September 2017 Average Sold Price per Square Footage is Depreciating*

The Average Sold Price per Square Footage in September 2017 was $114.
• ⬇️Down 0.9% compared to August 2017
• ⬆️Up 5.6% compared to September 2016

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

Central OH Real Estate Market Report Graph Avg PPSF Sept 2017

Central OH Real Estate Market Report Chart of AVG PPSF in Sept 2017


Days On Market in Central Ohio

The Average Days On Market trend remained steady* for Central Ohio in September 2017.

Average Days On Market in September 2017 was 26.
• ⬆️Up 4% compared to August 2017
• ⬇️Down 16.1% compared to September 2016

September 2017 Sold/Original List Price Ratio is Falling*

The Sold/Original List Price % in September 2017: 97%
• 0% compared to August 2017
• 0% compared to September 2016

*Based on 6 month trend of Rising/Falling/Remains Steady

Central OH Real Estate Market Report Graph of DOM Through 9/2017

Central OH Real Estate Market Report Chart of DOM in 9/2017


Home Price Trends in Central Ohio

The Median Sold Price began Depreciating* during September 2017 for Central Ohio.

Average Median Sold Price in September 2017: $185K
• ⬇️Down 4.1% compared to August 2017
• ⬆️Up 3.9% compared to September 2016

The Average For Sale Price in Central Ohio continued Depreciating* in September 2017.

Average For Sale Price  in September 2017: $349K
• ⬇️Down 1.1% compared to August 2017
• ⬆️Up 9.1% compared to September 2016

The Average Sold Price in Central Ohio began Depreciating* in September 2017.

Average Sold Price in September 2017: $219K
• ⬇️Down 2.7% compared to August 2017
• ⬆️Up 3.8% compared to September 2016

*Based on 6 month trend of Appreciating/Depreciating/Neutral

Central OH Real Estate Market Report Graph of Price Trends in Sept 2017

Central OH Real Estate Market Report Chart of Price Trends for Sept 2017


Months Of Inventory in Central Ohio

It was a Seller’s market* in Central Ohio for September 2017.

Months of Inventory based on Closed Sales in September 2017: 1.7
• ⬆️Up 21.8% compared to August 2017
• ⬇️Down 5.6% compared to September 2016

*Buyer’s market: more than 6 months of inventory based on closed sales 
Seller’s market: less than 3 months of inventory based on closed sales 
Neutral market: 3 – 6 months of inventory based on closed sales

Central OH Real Estate Market Report Graph of MOI in 9/2017

Central OH Real Estate Market Report Chart with MOI for Sept 2017


Central Ohio Absorption Rate

Absorption Rate based on Closed Sales in September 2017: 59.1
• ⬇️Down 18.8% compared to August 2017
• ⬆️Up 5% compared to September 2016

Central OH Real Estate Market Report Graph Of Absorption Rate through 9/2017

Central OH Real Estate Market Report Chart Of Absorption Rate through Sept 2017


Bottom Line For Buyers and Sellers

Although the Central Ohio real estate market is overall ideal for sellers, market conditions vary by neighborhood and price point. In fact, my last blog post delved into the different market conditions between starter homes and luxury homes.

In general, though, buyers will need to come to the market with their finances in order and ready to make a strong offer, because competition for the best homes can be fierce. However, fall and winter are the best times to buy if you want a better deal, so now is a great time to look for a home.

Despite the Seller’s Market, home sellers can’t be slack if they want to sell quickly for top dollar. If you’re thinking about selling a home in the near future, use the Home Value Estimator and contact me for a personal home valuation. I can help you stage it for the winter season and price it appropriately.

Have A Question About This Report?

To ask a question about this report or the Central Ohio real estate market, please feel free to contact me, Realtor Rita Boswell, at 614-547-3229. I’m always happy to talk about Columbus real estate!

Data provided by the Columbus Board of Realtors. Rita Boswell Group Central Ohio Market Reports include Franklin, Delaware, Fairfield, Licking, Madison, Pickaway, and Union counties.
View All Home Buying Posts

Leave a Reply

Your email address will not be published.