Central Ohio Real Estate Market Update: What Sellers Need to Know Right Now (May 2026)

Spring arrived and so did the buyers. Across Dublin, Powell, Westerville, Lewis Center, Worthington, New Albany, Upper Arlington, Hilliard, Delaware, and Galena, the market is showing some of the strongest contract activity we've seen in over a year. If you've been sitting on the fence about selling, the data is worth a close look.

---

What Are the Market Highlights for Central Ohio in May 2026?

Let's start with the big picture before we get into the details. This data covers sixteen zip codes across the suburbs listed above, pulled directly from the Columbus Board of Realtors MLS for April 2026.

Here's what the April 2026 data tells us across these communities combined:

Homes for Sale: 777 active listings in April, up 14.3% from March and up 22.2% from April 2025. More homes on the market than last spring, but still very lean by historical standards.

Homes Sold: 630 closings in April, up 7.3% from the month before and up 6.6% from a year ago. Buyers are active and deals are getting done.

Homes Under Contract (Pended): 927 homes went under contract in April. That's up 30.4% from March and up 39% from April 2025. That number is the one to watch. It's the leading indicator of what's coming next.

Average Sold Price: $556,000 in April, up 8.2% from March and up 5.7% from one year ago.

Price Per Square Foot: $228, up 3.6% from March and up 2.2% from last April. Prices are appreciating, not stalling.

Days on Market: 31 days average in April, down sharply from 40 days in March. Things are moving faster as spring hits.

Sale Price vs. Original List Price: Homes are selling at 99% of their original asking price. That means sellers who price right are getting what they ask for.

Months of Inventory: 1.2 months. To put that in context, a balanced market has 3 to 6 months of inventory. Anything under 3 is a seller's market. We're sitting at barely over one month. This is firmly seller territory.

---

What Do These Numbers Actually Mean If You've Never Sold a Home?

Real estate data can feel like a lot of noise if you're not inside it every day. So here's how I'd explain it to someone who has never been through this before.

When we say there's 1.2 months of inventory, that means if no new homes hit the market today, every home that's currently for sale would be sold within about five to six weeks. That's a very short window. For you as a seller, it means buyers don't have a lot of options. They're not shopping around casually. They're ready to make decisions, and they can't afford to wait around.

When we say homes are selling at 99% of original list price, it means sellers are not having to drop their price to get a deal. Pricing it right the first time is doing exactly what it should. That's not always the case in slower markets, where sellers often have to reduce two or three times before a buyer shows up.

The 927 pending contracts in April is the number I keep coming back to. That's nearly 1,000 families in this area alone who made a decision to buy a home last month. Those are real buyers, real motivation, and real competition for the homes that are available.

---

Should Upsizers in Dublin, Powell, and Lewis Center Be Selling Right Now?

If you're in a starter home or a mid-size home and you've been thinking about moving into something bigger, the math is worth running right now.

Here's the thing about upsizing in a seller's market. Yes, you'll pay more for the next house. But you'll also get more for the house you're leaving. And in a market where homes are selling at 99% of list price in 31 days or less, you're not sitting around waiting for an offer. You sell fast, you have cash in hand, and you go buy.

The communities that tend to attract upsizers in this area are Dublin, Powell, New Albany, and Upper Arlington. Dublin's average prices are sitting well above the metro average, and the Bridge Park corridor continues to draw buyers who want walkability alongside suburban square footage. Powell and Lewis Center are benefiting from Olentangy school district demand, which doesn't slow down. New Albany has seen consistent interest from buyers who want newer construction and larger lots. If your next move takes you into any of these communities, inventory is still tight, but the spring wave of listings gives you more to choose from than you'd have had in January.

The honest conversation about upsizing right now comes down to your current mortgage rate. If you're locked in at something below 4%, moving into a 6.3 to 6.5% rate on a larger loan is a meaningful increase in monthly payment. That's not a reason not to move. It's a reason to sit down with the actual numbers before you decide. I'm happy to help you run that comparison before you commit to anything.

---

What Do Downsizers in Worthington, Upper Arlington, and Westerville Need to Know?

Downsizing in this market is a genuinely strong position to be in, and here's why.

You're selling an asset that has likely appreciated significantly, especially if you've been in your home for five to ten years or more. The average sold price across these zip codes is up 5.7% year over year. Price per square foot has climbed to $228. If you bought a 2,500 square foot home years ago and you're ready to move into a 1,400 square foot home, you're likely walking away from the sale with real equity and buying something smaller at a lower total price point, even with today's rates factored in.

Worthington is a community that consistently attracts buyers who fall in love with the neighborhood, not just the house. Old Worthington's walkable streets and character homes draw people who are done with the suburbs and want something that feels like it has a history. If you're in a larger home there and thinking about moving, you have a ready audience.

Westerville is similar. Uptown Westerville and the surrounding established neighborhoods attract buyers who want community roots and real infrastructure. Sellers in Westerville are not competing against a flood of new construction the way Lewis Center sellers sometimes are. That works in your favor.

One thing downsizers should think through carefully is timing. If you're moving from a larger home into something more manageable, you want to sell first, know exactly what you have to work with, and then shop. Trying to buy and sell simultaneously without that clarity adds stress and risk. A well-structured contingency or a temporary rental situation can give you breathing room. That's a conversation worth having early.

---

What's Happening With Mortgage Rates Right Now, and Does It Matter?

The 30-year fixed mortgage rate is sitting around 6.3 to 6.5% as of early May 2026, according to Freddie Mac and Bankrate data. That's a full half point lower than it was a year ago, when rates were hovering closer to 6.76%. It's not a dramatic drop, but it's meaningful enough that purchase applications are up more than 20% year over year.

What that tells me is that buyers have recalibrated. They've stopped waiting for rates to fall back to 3% because most of them have figured out that's probably not happening anytime soon. Buyers are buying. They're adjusting their budgets, using seller concessions strategically, and moving forward. The 196 pending contracts just in the first five days of May 2026 is evidence of exactly that.

For sellers, the practical takeaway is this: the buyers who are shopping in your price range right now are serious. They've already done the rate math. They're not window shopping. That makes for cleaner offers and faster closings.

---

How Do These Central Ohio Communities Compare Right Now?

The zip codes in this report cover a wide range of communities, from Galena and Delaware in the north to Upper Arlington and Hilliard closer to Columbus proper. They don't all behave the same way, even in the same market cycle.

Dublin continues to sit at the higher end of the price range across these communities. Recent data shows Dublin around the mid-$500s to low-$600s depending on timeframe, supported by consistent demand from dual-income households, corporate relocation buyers tied to companies like Cardinal Health and Wendy's, and families drawn to Dublin City Schools. Inventory there is lean, and well-priced homes in the $500,000 to $700,000 range are moving quickly.

Powell and Lewis Center are driven heavily by the Olentangy school district, which remains one of the largest and most sought-after in Ohio. Buyers relocating to Central Ohio often land here because the school reputation travels. That creates a steady floor of demand that doesn't really turn off between seasons.

Westerville and Worthington tend to attract a different buyer profile: people who've already been in the suburbs and are looking for a community with a real identity. Uptown Westerville and Old Worthington both offer that. Sellers in those pockets often see emotional, motivated offers because buyers aren't just buying a house, they're buying into a lifestyle they've specifically chosen.

New Albany has seen continued interest in newer construction and larger properties, and Upper Arlington remains a premium close-in suburb with proximity to Ohio State and downtown Columbus. Hilliard offers strong value relative to its neighbors and draws buyers who want good schools without Dublin or Powell price points. Delaware and Galena bring more land and space into the equation, which appeals to buyers who've been priced out of Powell or who are specifically looking for that rural-adjacent feel with easy 23 access.

The YTD picture is consistent with the month-level story. More sales, more contracts, higher prices. The increase in days on market year over year isn't a red flag, it's a normalization. The market moved extremely fast in early 2025. We're still fast, just not frenzied. That's actually a healthier environment for sellers because buyers have just enough time to make thoughtful decisions, which leads to smoother transactions.

---

What's the Bottom Line for Sellers Thinking About Their Next Move?

The window sellers have been waiting for isn't some hypothetical future thing. It's right now. We have under 1.2 months of inventory, 927 homes that went under contract in April alone, prices appreciating at $228 per square foot, and buyers who've adjusted to today's rate environment and are actively moving. That combination is a strong seller's market by any measure.

If you're upsizing, don't let the rate conversation paralyze you. Run the actual numbers for your specific situation. Sometimes the math works beautifully. Sometimes you need to wait six months. But you can't know which one is true until you look at your equity, your target price range, and what your payment would actually be.

If you're downsizing, you're in a genuinely favorable spot. You're selling high and buying smaller. You have equity to work with. The buyers for your current home are ready. The hardest part of downsizing is usually emotional, not financial, so give yourself time to think through what you actually want next before you list.

And if you're somewhere in between, not sure if it's time, not sure what you'd even look for next,  that's exactly the kind of conversation I love having. There's no pressure in it. Just a real look at your situation and what makes sense.

---

Want to Talk About Your Next Move?

Whether you're thinking about upsizing into Dublin or Powell, downsizing into a Worthington bungalow, or just trying to figure out what your home is worth right now, I'm here for that conversation. No pressure, no pitch. Just real information so you can make a confident decision.

Common Questions About the Central Ohio Market

How do I know if my neighborhood is still a seller's market in May 2026?

The best indicator is months of inventory in your specific zip code, not the broader metro number. Across these sixteen zip codes combined, inventory sits at 1.2 months, which is firmly a seller's market. But individual streets and price ranges within a community can behave differently. A quick conversation with an agent who has your specific MLS data will tell you exactly where you stand.

Is it a problem that days on market are higher than they were last year?

Not really. Average days on market YTD is 38 days, up from 29 days in early 2025. That sounds like the market slowed down, but what it actually reflects is a more balanced pace. In early 2025, homes were flying off the shelves in under two weeks in some cases, which created buyer frenzy and emotional decisions. At 31 to 38 days, buyers still feel urgency but have a small window to be thoughtful. That tends to produce cleaner offers and fewer failed contracts. For sellers, it means you might have your home on the market for three to five weeks rather than three to five days. That's not a sign of weakness, it's normal.

Why is the average active list price lower than a year ago when sold prices are higher?

This is a nuance that trips people up. The average active price dropped from $675,000 in April 2025 to $617,000 in April 2026, but the average sold price rose from $526,000 to $556,000 over the same period. What that tells us is that the mix of homes currently listed has shifted slightly toward lower price points, while the homes that are actually selling are doing so at higher prices. In other words, sellers are pricing more realistically and buyers are paying more for well-priced homes. It's not a contradiction, it's actually a healthy signal.

Should I wait until summer to list my home, or is spring actually the better window?

Spring is typically the strongest window for Central Ohio sellers, and the 2026 data backs that up. The April pending contract number of 927 is a 39% jump from April 2025. That means buyers are out now, motivated, and actively making offers. Summer can still be strong, but inventory also tends to increase through June and July, which means more competition from other sellers. Listing in May or early June puts you in front of peak buyer demand before that inventory builds. If your home is ready, waiting to see what summer brings usually means giving up the best part of the spring wave.

What's the biggest mistake sellers make in a market like this one?

Overpricing. It sounds counterintuitive because conditions favor sellers, but the data shows homes are selling at 99% of original list price. That number is powerful only when the original list price was accurate to begin with. Sellers who push their price too high, expecting the market to meet them, often sit longer than expected and then have to reduce. A reduction almost always draws less attention than a fresh well-priced listing. The sellers who win right now are the ones who come in at market, not above it.

Sources: Columbus Board of Realtors MLS / TrendGraphix (May 2026 publication, data through April 2026) | Freddie Mac Primary Mortgage Market Survey (April 30, 2026) | Bankrate Mortgage Rate Data (May 2026) | U.S. News / Zillow Mortgage Rate Data (May 6, 2026) | Columbus Realtors Central Ohio Housing Report (March 2026)

Representing Central Ohio Homes with Real of Ohio