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
- 📏Central Ohio Average Price Per Square Foot
- 📉Central Ohio Days on Market
- 💲Central Ohio Home Prices
- 🏘️ Central Ohio Months Of Inventory
- 📈Central Ohio Absorption Rate
- Central Ohio Real Estate Market Report At A Glance
- Columbus OH Home Sellers
- Columbus OH Home Buyers
🏘️ Central Ohio Homes For Sale, Listed, Sold, & Pending
The number of Homes For Sale in January 2018 was 2865 units.
• Down 10% compared to Dec 2018
• Up 15.3% compared to Jan 2018
The number of Homes Listed in January 2019 was 1990 units.
• Up 49.6% compared to Dec 2018
• Up 11.7% compared to Jan 2018
The number of Homes Sold in January 2019 was 1430 units.
• Down 25.8% compared to Dec 2018
• Down 8.1% compared to Jan 2018
📏Central Ohio Average Price Per Square Foot
📉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.
• 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
• Down 1% compared to Jan 2018
*Based on 6 month trend – Rising/Falling/Remains Steady
💲Central Ohio Home Prices
The Median Sold Price trend is Depreciating* for January 2019 at $188k.
• Down 7.4% compared to Dec 2018
• Up 5% compared to Jan 2018
The Average For Sale Price trend was Neutral* at $364k.
• Up 4% compared to Dec 2018
• Down 3.2% compared to Jan 2018
The Average Sold Price trend was Depreciating* at $215k.
• Down 7.7% compared to Dec 2018
• Up 0.5% compared to Jan 2018
*Based on 6 month trend – Appreciating/Depreciating/Neutral
🏘️ 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.
• Up 18.2% compared to Dec 2018
• Up 25.1% compared to Jan 2018
*Seller’s market: less than 3 months of inventory based on closed sales
📈Central Ohio Absorption Rate
Central Ohio Real Estate Market Report At A Glance
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.
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.
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.”