The Columbus area continued to maintain a seller’s market throughout September, of course. Inventory is near record lows and houses are being snatched up quickly. New listings are still trending down, and sold price trends are still appreciating.
BOTTOM LINE: We NEED more listings in order for the market to balance 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 (October 16th, 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 September 2021 was 1965 units.
• Up 0.5% compared to August 2021
• Down 5.4% compared to September 2020
The number of Homes Listed in September 2021 was 3245 units.
• Down 9.1% compared to August 2021
• 0% compared to September 2020
The number of Homes Closed in September 2021 was 3204 units.
• Down 5.4% compared to August 2021
• Up 2% compared to September 2020
The number of Homes Placed Under Contract in September 2021 was 3525 units.
• Up 1.1% compared to August 2021
• Up 18.8% compared to September 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 September 2021 the Average Price Per Square Foot was $161.
• Up 0.6% compared to August 2021
• Up 12.6% compared to September 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 September 2021 was 12 days.
• Up 20% compared to August 2021
• Down 36.8% compared to September 2020
The Sold/Original List Price Ratio Is Falling* at 101% for September 2021.
• Down 1% compared to August 2021
• Up 2% compared to September 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 September 2021 was $280k.
• Down 2.8% compared to August 2021
• Up 12% compared to September 2020
The Average For Sale Price trend is Depreciating.* The Average For Sale Price in September 2021 was $388k.
• Down 1.3% compared to August 2021
• Down 6.1% compared to September 2020
The Average Sold Price trend is Appreciating.* The Average Sold Price in September 2021 was $315k.
• Down 2.5% compared to August 2021
• Up 9.8% compared to September 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 September 2021 is 0.6.
• 0% compared to August 2021
• Down 15.1% compared to September 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 September 2021 was 163.1%
• Down 5.8% compared to August 2021
• Up 7.9% compared to September 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
As we enter fall and winter, the market may cool slightly. The Columbus, Ohio real estate market usually slows down in the fall and winter, and it looks like we are seeing that begin. However, some real estate experts say that this year will be different and the market won’t cool off much if at all. If that’s the case, conditions will continue to be highly favorable for home sellers.
If you are selling a home during the holiday season, don’t take the seller’s market for granted. It is still important to properly price and prepare your home if you want to sell it fast for top dollar. Read “5 Holiday Home Staging Tips”Check 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
Yes, it has been a difficult market for buyers, but please don’t give up hope. The fall and winter may still give you an opportunity to find your ideal home. There tends to be less competition, and home prices tend to fall (though they probably won’t fall much this year).
Homebuyers are still finding and buying homes, but it may take longer than expected. Patience, preparedness, and perseverance are MUSTS right now for home buyers.4 Hacks For Home Buyers
Many homebuyers think that we’re in a bubble and that if they can just wait it out, the bubble will burst. Unfortunately, that’s probably not the case. As we see in the above report, low inventory continues to hamper the market. Without a significant increase in housing inventory, any distressed properties will get snapped up, which puts a floor under the 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, 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 See Homes Coming Soon To Columbus
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.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