The Columbus area continued to be in a strong seller’s market throughout March. Home prices came down slightly over the past months (normal for this time of year) – which is good news for buyers. BUT, inventory is still incredibly low which is definitely going to continue to benefit sellers. As we shift into the spring market, expect home prices to accelerate again. Consistently low inventory and higher demand are driving up prices year over year.
Read below to find out how the Columbus, OH housing market is doing and see what’s going on with the market at the moment. “Today’s Stats” are also included so you can see how things have changed as of the time of writing (April 14th, 2021).
If you need to buy or sell a home, please contact us at 614-547-3229. You can always begin your home buying journey online from the comfort of your home at RitaBoswellGroup.com. You can even find sold homes on our site!
- 🏘️ 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
- Get Your Local Market Snapshot
🏘️ Central Ohio Homes For Sale, Listed, Sold, & Pending
The number of Homes For Sale in March 2021 was 914 units.
• Down 16.5% compared to February 2020
• Down 62.7% compared to March 2020
The number of Homes Listed in March 2021 was 2868 units.
• Up 46.2% compared to February 2020
• Up 1.1% compared to March 2020
The number of Homes Closed in March 2021 was 2270 units.
• Up 28% compared to February 2020
• 0% compared to March 2020
The number of Homes Placed Under Contract in March 2021 was 3078 units.
• Up 51.3% compared to February 2020
• Up 29.9% compared to March 2020
📐Central Ohio Average Price Per Square Foot
📉Central Ohio Days on Market
The average Days On Market trend in the Columbus area Remains Steady.*
The Average Days on Market in March 2021 was 21 days.
• Down 12.5% compared to February 2020
• Down 43.2% compared to March 2020
The Sold/Original List Price Ratio Remains Steady* at 100% for March 2021.
• Up 1% compared to February 2020
• Up 3.1% compared to March 2020
*Based on 6-month trend – Rising/Falling/Remains Steady
💲Central Ohio Housing Prices
The Median Sold Price trend is Neutral.* The Median Sold Price for March 2021 was $255k.
• Up 7.1% compared to January 2020
• Up 9.9% compared to March 2020
The Average For Sale Price trend is Depreciating.* The Average For Sale Price in March 2021 was $464k.
• Up 7.9% compared to February 2020
• Up 19% compared to March 2020
The Average Sold Price trend is Neutral.* The Average Sold Price in March 2021 was $295k.
• Up 5.7% compared to February 2020
• Up 10.5% compared to March 2020
*Based on 6-month trend – Appreciating/Depreciating/Neutral
🏘️ Central Ohio Months Of Inventory
📈Central Ohio Absorption Rate
Central Ohio Housing Market Report At A Glance
Central Ohio Home Sellers
It’s spring and the seller’s market isn’t going anywhere anytime soon. In fact, the market is nearing record lows in inventory, and record highs in home prices, so if you’re thinking about selling, contact us! There are plenty of buyers out there in search of a home.
This market is ideal for homeowners looking to move up. When you list your home, expect to receive many offers to consider. This can be confusing for sellers, but that’s why we’re here. If you have a home in the Columbus area you are looking to list, call or text Realtor Rita Boswell at 614-547-3229. Rita’s specialty is helping homeowners sell profitably, quickly, and with LESS STRESS.
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 stay low, giving home buyers more money to work with. As well, home values are still expected to increase over the coming years, making purchasing a home right now a great investment.
It may seem like a good idea to try to wait out market conditions rather than buy right now, but it seems that the low inventory situation is not likely to change meaningfully any time soon. Meanwhile, rates and home prices are likely to continue to go up. Rising rates will eat away at buyers’ purchasing power. Here’s a breakdown of how much it could cost you to wait just one year:
If you’re thinking about buying a home, call or text the Rita Boswell Group at 614-547-3229. We have top-of-the-line Buyer’s Agents who can find your dream home, even in this difficult market. The market is so competitive right now, you will definitely want a skilled agent working for you.
As a buyer, you can give yourself an edge by educating yourself on market conditions and strategies to deal with a competitive market.
One of the first steps in buying a home is getting pre-approved. Connect with a mortgage professional to get started with pre-approval.
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.