The Columbus housing market continues to be a heavy seller’s market. Home prices are rising and inventory is shockingly low.

Read below to find out how the Columbus, OH housing market is doing and see the trends that are occurring. “Today’s Stats” are also included so you can see how things have changed as of the time of writing (August 15th, 2020).

If you need to buy or sell a home, please contact us at 614-547-3229. You can always start your home search online from the comfort of your couch at RitaBoswellGroup.com. You can even find sold homes on our site!

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

The number of Homes For Sale in July 2020 was 2088 units.
<img draggable=Up 6.4% compared to June 2020
<img draggable=Down 40.3% compared to July 2019

The number of Homes Listed in July 2020 was 3206 units.
<img draggable=Up 7.1% compared to June 2020
<img draggable=Up 0.4% compared to July 2019

View Homes Listed In The Last 30 Days In Central Ohio

 

The number of Homes Closed in July 2020 was 2926 units.
<img draggable=Up 9.5% compared to June 2020
<img draggable=Up 1.9% compared to July 2019

View Homes SOLD In The Last 30 Days In Central Ohio

 

The number of Homes Placed Under Contract in July 2020 was 3548 units.
<img draggable=Up 16.2% compared to June 2020
<img draggable=Up 30.6% compared to July 2019

View Homes Placed Under Contract In The Last 30 Days In Central Ohio

 

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 Appreciating.* In July 2020 the Average Price Per Square Foot was $142.

<img draggable=Up 1.4% compared to June 2020
<img draggable=Up 7.6% compared to July 2019

*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 Falling.*

The Average Days on Market in July 2020 was 21 days.
<img draggable=Down 12.5% compared to June 2020
<img draggable=Up 5% compared to July 2019

The Sold/Original List Price Ratio is Rising* at 99% for July 2020.

• 0% compared to June 2020
<img draggable=Up 1% compared to July 2019

*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 Appreciating* The Median Sold Price for July 2020 was $255k.
<img draggable=Up 2% compared to June 2020
<img draggable=Up 10.9% compared to July 2019

The Average For Sale Price trend is Appreciating.* The Average For Sale Price in July 2020 was $425k.
<img draggable=Down 3.2% compared to June 2020
<img draggable=Up 3.7% compared to July 2019

The Average Sold Price trend is Appreciating.* The Average Sold Price in July 2020 was $292k.
<img draggable=Up 2.8% compared to June 2020
<img draggable=Up 11% compared to July 2019

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

Quick Guide: Average Price For Sale and Sold

🏘️ Central Ohio Months Of Inventory

It is still a Seller’s Market* in Columbus, Ohio!!!

The Months of Inventory based on Closed Sales in July 2020 was down to just 0.7.😮
• 0% compared to June 2020
<img draggable=Down 41% compared to July 2019

*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 July 2020 was 140.1
<img draggable=Up 2.9% compared to June 2020
<img draggable=Up 70.6% compared to July 2019

*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

The market remained a seller’s market throughout July and based on these graphs, it looks like August will continue the trend. Keep in mind that the market tends to cool in the fall and winter. With so much pent up demand, it’s hard to say whether this fall will be typical. But, if you’re thinking about selling your home, you might want to do so sooner than later. Homes generally take a little longer to sell and prices usually fall slightly.

Housing inventory is incredibly low, and Central Ohio seriously needs listings! If you have a home in the Columbus area you would like to list, please call or text Realtor Rita Boswell at 614-547-3229.

Get Your Home’s Value Instantly See What Buyers Are Searching For
*Note: Central Ohio’s current Sellers Market is driven by lower-priced homes due to high demand and low inventory. Higher priced home sellers may find they are in a Buyers Market because of more inventory and less demand. It’s extremely important for home sellers in higher price ranges to work with an expert, prep your home for sale, and list at a competitive price.

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 614-547-3229 to learn more about market conditions in your specific community.

Columbus OH Home Buyers

Even though it’s a seller’s market, interest rates are predicted to remain relatively low, giving home buyers more purchasing power. Since home values are expected to increase in the coming years, buying a home is still a good investment and a way to build personal wealth. If you’re thinking about buying a home, call or text the Rita Boswell Group at 614-547-3229. We have expert Buyer’s agents who can find your dream home, even in this challenging market. The market usually cools off a bit in the fall and winter, and that can be an ideal time to buy. So, it’s a good idea to start preparing now.

Browse Price Reduced Homes In Central Ohio

One of the first steps in buying a home is getting pre-approved. Connect with a mortgage professional to get started with pre-approval.

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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 614-547-3229.”

 

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