Temps are heating up, and so is the Central Ohio real estate market! The number of days on market for Columbus homes for sale is down, and average home prices in Columbus are up.

Read on for April’s days on market, average prices, months of inventory, and more.

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

The number of Homes For Sale in April 2018: 2725 units.
<img draggable=Up 7.5% compared to March 2018
<img draggable=Down 15.7% compared to April 2017

The number of Homes Listed in April 2018: 3312 units.
<img draggable=Up 6.3% compared to March 2018
<img draggable=Up 0.3% compared to April 2017

The number of Homes Closed in April 2018: 2288 units.
<img draggable=Up 2.4% compared to March 2018
<img draggable=Down 3.2% compared to April 2017

The number of Homes Placed Under Contract in April 2018: 3412 units.
<img draggable=Up 24.7% compared to March 2018
<img draggable=Up 16.7% compared to April 2017

Green chart with homes for sale, listed, sold, pending in Columbus area

Chart with arrows showing Columbus OH homes for sale, sold, listed, & pending in April 2018

📏Central OH Average Price Per Square Foot

The Average Price per Square Foot on Sold homes is Appreciating* and is up to $120.

<img draggable=Up 1.7% compared to March 2018
<img draggable=Up 6.2% compared to April 2017

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

Blue Graph with average price per square foot in Central Oh

chart compares days on market in Central Ohio in April 2018

📉Days On Market in Central Ohio

The average Days On Market in April dropped by almost 10 days!

The Average Days on Market number for April 2018 was 28 days. That’s…
<img draggable=Down 24.3% compared to March 2018
<img draggable=Down 24.3% compared to April 2017

The Sold/Original List Price Ratio Rose* in April 2018 at 98%.
<img draggable=Up 1% compared to March 2018
<img draggable=Up 1% compared to April 2017

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

Orange Bar chart with Central OH DOM Apr2018

Chart compares DOM in Central Ohio April 2018

💲Median & Average Home Prices in Central OH

The Median Sold Price appreciated* in April 2018 to $200k.
<img draggable=Up 3.6% compared to March 2018
<img draggable=Up 8.1% compared to April 2017

The Average For Sale Price was Neutral* in April at $395k.
<img draggable=Up 0.8% compared to March 2018
<img draggable=Up 6.8% compared to April 2017

The Average Sold Price in April rose* to $233k.
<img draggable=Up 1.7% compared to March 2018
<img draggable=Up 5.4% compared to April 2017

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

Blue Chart With Columbus Ohio Home Prices April 2018

Chart compares Columbus home prices in April 2018 to last month & last year

📅Months of Inventory In Central Ohio

April 2018 was a Seller’s market* in Central Ohio (again).

The Months of Inventory based on Closed Sales in April 2018 was 1.2.
<img draggable=Up 8.8% compared to March 2018
<img draggable=Down 14.6% compared to April 2017

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

Yellow chart showing the Months Of Inventory in Central Ohio through April 2018

Chart Comparing MOI in Central OH in April 2018 to last month & last year

📈Absorption Rate in Central Ohio

The Absorption Rate based on Closed Sales in April 2018 was 84%.
<img draggable=Down 4.8% compared to February 2018
<img draggable=Up 14.9% compared to March 2017

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

Green chart showing absorption rate of 84 in Central Ohio in April 2018

Chart comparing absorption rate in Central Ohio

What Columbus Home Sellers Need To Know

This really is a great time to sell your home! Buyers are out in full force, home prices are up, and homes are selling very quickly.

Keep in mind that market conditions can vary by neighborhood and even price point. Contact Columbus OH Realtor Rita Boswell to check market conditions in your community, and to determine how to best prepare your home for a speedy sale.

 

What Columbus Home Buyers Need To Know

Not only is it a Seller’s Market in Central Ohio, but seasonally this is also the busiest and most competitive time for home buying.

Many buyers are frustrated by the extremely low housing inventory and rising prices, but stick with it and don’t lose hope. It’s still good time to buy a home thanks to interest rates that remain near historic lows and rising rents.

Home buyers that work with an experienced Realtor typically find and buy their home faster. Contact us at the Rita Boswell Group to find your ideal home.

About Central Ohio Real Estate Market Reports

At the Rita Boswell Group, our goal is to provide home buyers and sellers with the most up to date, in-depth market report possible.

This 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.

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 614-547-3229.

 

View All Market Reports Posts