The Columbus area has continued to maintain a seller’s market throughout June. Inventory is nearing record lows and houses are being snatched up quickly. Home prices continue to rise as we head through the summer market. However, it is still a good time to buy for a long-term investment. Consistently low inventory and higher demand are driving up prices year over year. Plus, rising interest rates will erode the purchasing power of those who try to wait it out.
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 (July 15th, 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 June 2021 was 1413 units.
• Up 12.1% compared to May 2021
• Down 33.1% compared to June 2020
The number of Homes Listed in June 2021 was 3904 units.
• Up 10.6% compared to May 2021
• Up 19.5% compared to June 2020
The number of Homes Closed in June 2021 was 3278 units.
• Up 18.9% compared to May 2021
• Up 11.7% compared to June 2020
The number of Homes Placed Under Contract in June 2021 was 3940 units.
• Up 18.7% compared to May 2021
• Up 24% compared to June 2020
📐Central Ohio Average Price Per Square Foot
📉Central Ohio Days on Market
The average Days On Market trend in the Columbus area Is Falling.*
The Average Days on Market in June 2021 was 9 days.
• Down 18.2% compared to May 2021
• Down 64% compared to June 2020
The Sold/Original List Price Ratio Is Rising* at 103% for June 2021.
• Down 1% compared to May 2021
• Up 4% compared to June 2020
*Based on 6-month trend – Rising/Falling/Remains Steady
💲Central Ohio Housing Prices
The Median Sold Price trend is Appreciating.* The Median Sold Price for June 2021 was $288k.
• Up 0.7% compared to May 2021
• Up 15.2% compared to June 2020
The Average For Sale Price trend is Appreciating.* The Average For Sale Price in June 2021 was $432k.
• Down 1.1% compared to May 2021
• Down 0.5% compared to June 2020
The Average Sold Price trend is Appreciating.* The Average Sold Price in June 2021 was $330k.
• Up 0.6% compared to May 2021
• Up 17% compared to June 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
Coming into summer, the seller’s market will continue. In fact, the market is approaching record lows in inventory, and record highs in home prices, so if you’re thinking about selling, now is a great time to contact us! There are more than enough buyers out there in search of a home. Someone is probably waiting to pounce on your home! However, we do usually see a slow down in the fall and winter. So, if you’re thinking about selling your home, NOW is the time to list it and take advantage of seasonality in the market.
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
It may seem like a good idea to try to wait out market conditions rather than buy right now, but 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:
Many homebuyers are thinking that we’re in a bubble, and if they can just hold out a bit longer the bubble will burst. Unfortunately, that’s not likely because the supply/demand gap is not going anywhere anytime soon. 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 614-547-3229. We can help you 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.
You can also give yourself a leg up by staying on top of price-reduced homes and coming soon homes. Patience and perseverance are both essential to winning right now. As we move into the fall and winter, owners of price-reduced homes may become more motivated which could be an opportunity for you.
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.