The Columbus area has continued to maintain a seller’s market throughout May. Home prices came down slightly over the past months which is normal for this time of year – spelling good news for buyers. BUT, inventory is still incredibly low which will continue to benefit sellers. As we come into the summer 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 (June 14th, 2021).
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 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 May 2021 was 1207 units.
• Up 1.3% compared to April 2021
• Down 46.9% compared to May 2020
The number of Homes Listed in May 2021 was 3388 units.
• Up 5% compared to April 2021
• Up 18.9% compared to May 2020
The number of Homes Closed in May 2021 was 2626 units.
• Up 4.3% compared to April 2021
• Up 14.8% compared to May 2020
The number of Homes Placed Under Contract in May 2021 was 3685 units.
• Up 31.5% compared to April 2021
• Up 40.2% compared to May 2020
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 May 2021 the Average Price Per Square Foot was $161.
• Up 1.9% compared to April 2021
• Up 19.3% compared to May 2020
*Based on 6-month trend – Appreciating/Depreciating/NeutralQuick 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 May 2021 was 11 days.
• Down 15.1% compared to April 2021
• Down 56% compared to May 2020
The Sold/Original List Price Ratio Is Rising* at 104% for May 2021.
• Up 1% compared to April 2021
• Up 6.1% compared to May 2020
*Based on 6-month trend – Rising/Falling/Remains SteadyQuick Guide: Average Days On Market & Sold/List Price %
💲Central Ohio Housing Prices
The Median Sold Price trend is Appreciating.* The Median Sold Price for May 2021 was $285k.
• Up 7.5% compared to April 2021
• Up 18.8% compared to May 2020
The Average For Sale Price trend is Appreciating.* The Average For Sale Price in May 2021 was $431k.
• Up 1.7% compared to April 2021
• Up 3.6% compared to May 2020
The Average Sold Price trend is Appreciating.* The Average Sold Price in May 2021 was $327k.
• Up 8.3% compared to April 2021
• Up 21.6% compared to May 2020
*Based on 6-month trend – Appreciating/Depreciating/NeutralQuick 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 May 2021 is 0.5.
• 0% compared to April 2021
• Down 50.3% compared to May 2020
*Seller’s market: less than 3 months of inventory based on closed salesQuick Guide: Months Of Inventory | Median Price
📈Central Ohio Absorption Rate
The Absorption Rate based on Closed Sales in May 2021 was 217.6
• Up 3% compared to April 2021
• Up 116.1% compared to May 2020
*Seller’s market: 33.33% and above based on closed salesQuick Guide: Absorption Rate
Central Ohio Housing Market Report At A Glance
Central Ohio Home Sellers
Coming into summer, the seller’s market isn’t going anywhere anytime soon. 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!
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 614-830-9767. Rita’s specialty is helping homeowners sell profitably, quickly, and with LESS STRESS.Get Your Home’s Value Instantly See What Buyers Are Searching For
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 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:Cost of Waiting Broken Down by Price Point
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, 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.Free Guide: 15 Ways To WIN Your Dream Home In This 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.Browse Price Reduced Homes In Central Ohio See Homes Coming Soon To Columbus
One of the first steps in buying a home is getting pre-approved. Connect with a mortgage professional to get started with pre-approval.Browse Today’s Newest Listings
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 614-830-9767.
Get Your Local Market Snapshot
See property values, inventory, market data, and demographics for your local Central Ohio community.Your Local Market Snapshot