Columbus OH Real Estate Market Report April 2022

We remain in a hot seller’s market in Columbus. It’s likely to stay hot because low inventory and high demand continue to be the catalysts. In fact, the below report shows that as of this writing, there are about 900 homes currently for sale in all of Central Ohio.* Looking at the graph below, we can see that new listings and pending listings have converged, and that sold homes far outpaced homes for sale. We simply need more homes on the market to meet demand.

Read below to find out how the Columbus, OH housing market is doing and see what’s going on with the real estate 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 15th, 2022).

If you need to buy or sell a home, please contact us at 614-830-9767. You can always begin your home buying journey online from the comfort of your home at RitaBoswellGroup.com. You can even see sold homes on our site!

The number of Homes For Sale in March 2022 was 909 units.
• Down 7.7% compared to February 2022
• Down 0.5% compared to March 2021

The number of Homes Listed in March 2022 was 2898 units.
• Up 49% compared to February 2022
• Down 0.3% compared to March 2021

The number of Homes Closed in March 2022 was 2129 units.
• Up 22.7% compared to February 2022
• Down 9.5% compared to March 2021

The number of Homes Placed Under Contract in March 2022 was 2898 units.
• Up 48.5% compared to February 2022
• Up 11.2% compared to March 2021

The Average Price per Square Foot on Sold homes trend is Appreciating.* In March 2022 the Average Price Per Square Foot was $178.

• Up 5.3% compared to February 2022
• Up 16.3% compared to March 2021

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

The average Days On Market trend in the Columbus area Is Rising.*

The Average Days on Market in March 2022 was 15 days.
• Down 28.6% compared to February 2022
• Down 28.6% compared to March 2021

The Sold/Original List Price Ratio is Rising* at 103% for March 2022.

• Up 2% compared to February 2022
• Up 3% compared to March 2021

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

The Median Sold Price trend is Appreciating.* The Median Sold Price for March 2022 was $295k.
• Up 8.5% compared to February 2022
• Up 15.7% compared to March 2021

The Average For Sale Price trend is Appreciating.* The Average For Sale Price in March 2022 was $464k.
• Up 3.3% compared to February 2022
• 0% compared to March 2021

The Average Sold Price trend is Appreciating.* The Average Sold Price in March 2022 was $333k.
• Up 5.4% compared to February 2022
• Up 12.1% compared to March 2021

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

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

The Months of Inventory based on Closed Sales in March 2022 is 0.4.
• Down 35.2% compared to February 2022
• 0% compared to March 2021

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

The Absorption Rate based on Closed Sales in March 2022 was 234.2%
• Up 33% compared to February 2022
• Down 9% compared to March 2021

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

Use this table to quickly see how the Columbus, Ohio area real estate market is doing.

With homes in short supply and lots more people moving to Central Ohio, the market is HOT. Even in a hot market, it is still possible to misprice or improperly prepare a home for sale. There are still homes that don’t sell fast. Some sit and become stale, attracting silly low-ball offers and wasting sellers’ time. It is imperative that you hire a full-time agent who is an expert in your community. If you’re thinking about selling a home this spring or summer, get in touch with REALTOR® Rita Boswell to find out your options.

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 614-830-9767 learn more or to request our Neighborhood Report, which provides in-depth data for specific neighborhoods.

Get ready for an insane spring and summer in the Columbus real estate market! With few homes to choose from, rising rates, and a people relocating to Columbus, inventory will continue to be an issue in the near term. It is still possible, though, to buy a beautiful home right now. It will take time and patience, but it is possible.

Some folks think that we’re in a housing bubble like 2006. They believe that if they wait, they will be scooping up homes at rock-bottom prices. Unfortunately, that’s probably not the case, at least not in the near term. As we see in our reports month after month, low inventory continues to hamper the market. Builders are decades behind. The uptick in inventory that we keep hoping for has thus far been elusive. Plus, even more people will be moving to Central Ohio soon. Without a significant increase in housing inventory, any foreclosures or short sales will get bought up, which will support a strong Columbus real estate market. Read “Are We In A Housing Bubble” to learn more.

If you’re thinking about buying a home, call or text the Rita Boswell Group at 614-830-9767. We can help you find your dream home, even in this difficult market. The market is so competitive right now, that you will definitely want a skilled agent working for you. And, you don’t want to wait to buy, because the Federal Reserve has signaled that it will raise rates several times throughout 2022 and into 2023. Rising rates erode housing affordability.

As a buyer, you can give yourself an edge by educating yourself on market conditions and using strategies to deal with a competitive market.

The most important step in preparing to buy a home is to get pre-approved. Connect with a mortgage professional to get started with pre-approval.

“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 or for the entire Columbus MLS, contact Realtor Rita Boswell at 614-830-9767.

See property values, inventory, market data, and demographics for your local Central Ohio community.