We’re two months into 2020, and the market is already getting HOT! Keep reading to see how the market is doing in Columbus right now.

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

The number of Homes For Sale in January 2020 was 2538 units.
<img draggable=Down 14.7% compared to December 2019
<img draggable=Down 11.4% compared to January 2019

The number of Homes Listed in January 2020 was 2180 units.
<img draggable=Up 56.7% compared to December 2019
<img draggable=Up 8.7% compared to January 2019

View Homes Listed In The Last 30 Days In Central Ohio

 

The number of Homes Closed in January 2020 was 1539 units.
<img draggable=Down 32% compared to December 2019
<img draggable=Up 2.3% compared to January 2019

View Homes SOLD In The Last 30 Days In Central Ohio

 

The number of Homes Placed Under Contract in January 2020 was 2567 units.
<img draggable=Up 51.3% compared to December 2019
<img draggable=Up 43% compared to January 2019

View Homes Placed Under Contract In The Last 30 Days In Central Ohio

 

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 Depreciating.* In January 2020 the Average Price Per Square Foot was $125.

<img draggable=Down 1.6% compared to December 2019
<img draggable=Up 6.8% compared to January 2019

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

 

Quick Guide: Average Price Per Square Footage

📉Central Ohio Days on Market

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

The Average Days on Market in January 2020 was 38 days.
<img draggable=Up 8.6% compared to December 2019
<img draggable=Down 7.3% compared to January 2019

The Sold/Original List Price Ratio is Falling* at 95% for January 2020.

• 0% compared to December 2019
• 0% compared to January 2019

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

 

Quick Guide: Average Days On Market & Sold/List Price %

💲Central Ohio Housing Prices

The Median Sold Price trend is Depreciating* The Median Sold Price for January 2020 was $204k.
<img draggable=Down 4.2% compared to December 2019
<img draggable=Up 7.4% compared to January 2019

The Average For Sale Price trend is Neutral.* The Average For Sale Price in January 2020 was $372k.
<img draggable=Up  4.8% compared to December 2019
<img draggable=Up 2.2% compared to January 2019

The Average Sold Price trend is Depreciating.* The Average Sold Price in January 2020 was $238k.
<img draggable=Down 3.6% compared to December 2019
<img draggable=Up 10.2% compared to January 2019

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

 

Quick Guide: Average Price For Sale and Sold

🏘️ Central Ohio Months Of Inventory

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

The Months of Inventory based on Closed Sales in January 2020 was 1.6.
<img draggable=Up 22.8% compared to December 2019
<img draggable=Down 15.8% compared to January 2019

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

 

Quick Guide: Months Of Inventory | Median Price

📈Central Ohio Absorption Rate

The Absorption Rate based on Closed Sales in January 2020 was 60.6.
<img draggable=Down 20.3% compared to December 2019
<img draggable=Up 15.4% compared to January 2019

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

 

Quick Guide: Absorption Rate

Central Ohio Housing Market Report At A Glance

 

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

Central Ohio Home Sellers

We’re still in a Seller’s Market in Central Ohio, and home values are in a long term uptrend. So, it’s a great time to sell your home!

If you are ready to sell your Columbus home soon, now is the time to start preparing. Get in touch with a local real estate pro about preparing your home for the market. An expert agent is the best person to help you decide which updates to consider and how much to spend. You want your home to be move-in ready for buyers, but you don’t want to go overboard with updates and improvements that eat into your profits.

*Note: Central Ohio’s current Sellers Market is driven by lower-priced homes due to high demand and low inventory. Higher priced home sellers may find they are in a Buyers Market because of more inventory and less demand. It’s extremely important for home sellers in higher price ranges to work with an expert, prep your home for sale, and list at a competitive price.

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.

Get Your Home’s Value Instantly

Columbus OH Home Buyers

Interest rates are low, and home values are predicted to continue to rise in Columbus. Builders are way behind, so housing demand due to low supply isn’t going away anytime soon. All this means that even though we’re in a seller’s market, you can still make a smart investment by buying a home in Central Ohio.

Browse Price Reduced Homes In Central Ohio

Because we’re in a seller’s market, make sure you get pre-approved before finding the perfect home. Preparation will help you win your dream home, even if you find yourself in a bidding war. Connect with a mortgage professional to get started.

Use a Top Home Buying Agent to help you find homes that fit your needs and budget. Be ready to make a competitive offer when you find the right home.

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 614-547-3229.”

 

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