January is usually the beginning of the end for the slower winter season in real estate. Home buyers in Columbus enjoyed more inventory, longer days on market, and lower prices on average.

As the days grow longer, the weather warms, and folks begin to get their tax refunds, that’s when the real estate market swings back in gear.

Expect things to start really heating up in March and April.

Keep reading to see how the Central Ohio real estate market did in January and to view trends.

🏘️ Central Ohio Homes For Sale, Listed, Sold, & Pending

The number of Homes For Sale in January 2018 was 2865 units.
<img draggable=Down 10% compared to Dec 2018
<img draggable=Up 15.3% compared to Jan 2018

The number of Homes Listed in January 2019 was 1990 units.
<img draggable=Up 49.6% compared to Dec 2018
<img draggable=Up 11.7% compared to Jan 2018

The number of Homes Sold in January 2019 was 1430 units.
<img draggable=Down 25.8% compared to Dec 2018
<img draggable=Down 8.1% compared to Jan 2018

The number of Homes Placed Under Contract in January 2019 was 2236 units.
<img draggable=Up 35.4% compared to Dec 2018
<img draggable=Up 24% compared to Jan 2018Green bar chart showing Columbus OH Homes For Sale, Sold, Pending, Newly Listed through Jan 2019Table comparing Columbus OH Homes For Sale, Sold, Pending, Newly Listed for January 2019

📏Central Ohio Average Price Per Square Foot

The Average Price per Square Foot on Sold homes moved down in January 2019 to $116.

<img draggable=Down 4.9% compared to Dec 2018
<img draggable=Up 4.5% compared to Jan 2018

Blue bar chart showing Columbus OH Average Price Per Square Foot through January 2019

Table showing Columbus OH Average Price Per Square Foot comparison for January 2019

📉Central Ohio Days on Market

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

The Average Days on Market in January 2019 was 40 days.
<img draggable=Up 5.3% compared to Dec 2018
• Unchanged compared to Jan 2018

The Sold/Original List Price Ratio is falling* at 95% for January 2019.

• Unchanged compared to Dec 2018
<img draggable=Down 1% compared to Jan 2018

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

Orange bar chart showing Columbus OH Days On Market through January 2019

Table showing Columbus OH Days On Market Comparison January 2019

💲Central Ohio Home Prices

The Median Sold Price trend is Depreciating* for January 2019 at $188k.
<img draggable=Down 7.4% compared to Dec 2018
<img draggable=Up 5% compared to Jan 2018

The Average For Sale Price trend was Neutral* at $364k.
<img draggable=Up 4% compared to Dec 2018
<img draggable=Down 3.2% compared to Jan 2018

The Average Sold Price trend was Depreciating* at $215k.
<img draggable=Down 7.7% compared to Dec 2018
<img draggable=Up 0.5% compared to Jan 2018

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

Blue bar chart showing Columbus OH Home Prices Through January 2019

Table showing Columbus OH Home Price comparison Through January 2019

🏘️ Central Ohio Months Of Inventory

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

Note the significant increase in inventory compared to the same time last year.

The Months of Inventory based on Closed Sales in January 2019 was 2.
<img draggable=Up 18.2% compared to Dec 2018
<img draggable=Up 25.1% compared to Jan 2018

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

Yellow bar chart showing Columbus OH Months Of Inventory through January 2019

Table showing Columbus OH Months Of Inventory comparison for January 2019

📈Central Ohio Absorption Rate

The Absorption Rate based on Closed Sales in January 2019 was 49.9.
<img draggable=Down 17.5% compared to Dec 2018
<img draggable=Down 20.3% compared to Jan 2018

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

Green graph showing Columbus OH Absorption Rate Based on Closed Sales Through January 2019

Table showing Columbus OH Absorption Rate Based on Closed Sales comparison January 2019

Central Ohio Real Estate Market Report At A Glance

 

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

Table showing full Columbus OH real estate market data through January 2019

Columbus OH Home Sellers

Selling your home this spring? Good news for you, it remains a Seller’s Market. As days lengthen and weather warms, home buyer activity will pick up. Activity will also increase as many people put tax refunds towards a home purchase.

If you want to get your home listed and sold this spring, talk with an experienced Realtor about getting your home ready.

Please keep in mind: Central Ohio’s current Seller’s Market continues to be driven by lower priced homes. Higher priced home sellers may find they are in a Buyer’s Market. It’s extremely important to work with an expert, prep your home for sale, and list at a competitive price. 

Call or text Columbus Realtor Rita Boswell at 614-547-3229 to learn more about market conditions in your specific community.

Get Your Home’s Value Instantly

Columbus OH Home Buyers

January’s higher inventory may be a good sign for buyers who have seriously struggled in this market.

As we move into Spring, though, home buyer competition will likely get fierce, especially for starter homes.

Serious home buyers must be ready before they find the perfect home. Consult with a mortgage professional to know your budget.

Work with a Top Home Buyer Agent to help you find homes that fit your needs and budget, and be ready to make an offer when you find the right home.

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.”

 

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