Happy New Year and New Decade!! Let’s start it off with a great Columbus Real Estate Market Report for home buyers and sellers!

Keep reading to see real estate trends that make this an ideal time to buy or sell a home in Columbus!


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

The number of Homes For Sale in December 2019 was 2977 units.
<img draggable=Down 18.5% compared to November 2019
<img draggable=Down 6.5% compared to December 2018

The number of Homes Listed in December 2019 was 1376 units.
<img draggable=Down 30.3% compared to November 2019
<img draggable=Down 3.2% compared to December 2018

View Homes Listed In The Last 30 Days In Central Ohio

 

The number of Homes Closed in December 2019 was 2223 units.
<img draggable=Down 3% compared to November 2019
<img draggable=Up 14.6% compared to December 2018

View Homes SOLD In The Last 30 Days In Central Ohio

 

The number of Homes Placed Under Contract in December 2019 was 1971 units.
<img draggable=Down 7.2% compared to November 2019
<img draggable=Up 22.3% compared to December 2018

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 Neutral.* In December 2019 the Average Price Per Square Foot was $127.

<img draggable=Up 0.8% compared to November 2019
<img draggable=Up 4.1% compared to December 2018

*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 December 2019 was 35 days.
<img draggable=Up 16.7% compared to November 2019
<img draggable=Down 7.9% compared to December 2018

The Sold/Original List Price Ratio is Falling* at 95% for December 2019.

<img draggable=Down 1% compared to November 2019
• 0% compared to December 2018

*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 December 2019 was $212k.
<img draggable=Down 0.5% compared to November 2019
<img draggable=Up 4.4% compared to December 2018

The Average For Sale Price trend is Depreciating.* The Average For Sale Price in December 2019 was $355k.
<img draggable=Down 0.3% compared to November 2019
<img draggable=Up 1.4% compared to December 2018

The Average Sold Price trend is Neutral.* The Average Sold Price in December 2019 was $247k.
<img draggable=Up 2.5% compared to November 2019
<img draggable=Up 6% compared to December 2018

*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 December 2019 was 1.3.
<img draggable=Down 18.8% compared to November 2019
<img draggable=Down 18.3% compared to December 2018

*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 December 2019 was 74.7.
<img draggable=Up 19.1% compared to November 2019
<img draggable=Up 22.7% compared to December 2018

*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 have been in a seller’s market for some time, and we will likely remain in a seller’s market throughout 2020.

If you’re thinking about selling your Columbus home soon, now is the time to start preparing. Talk with a local real estate expert about getting your home ready for the market. An experienced 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, but you don’t want to go overboard and not recoup your money.

*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 there is 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

Statistically, this is a great time to purchase a home. In fact, February 23 is the best day to buy a home if you’re looking for a deal. Of course, a homebuyer who closed on that date would likely have found their home by the end of January.

Additionally, a recent report from the National Association of Realtors identified Columbus Ohio as one of the top ten U.S. markets expected to outperform over the next 3-5 years. If you buy smart, your home’s value can still go up.

Browse Price Reduced Homes In Central Ohio

 

It is still a seller’s market, though. So, make sure you get pre-approved before finding the perfect home. 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

2020 Real Estate Outlooks

There are many predictions for the real estate market in 2020.

For Columbus, we will likely continue the overall trend of a low-inventory fueled Seller’s Market, especially in the lower price ranges. There simply aren’t enough existing homes to meet the demand. Homebuilders nationwide face headwinds that keep them from building enough homes in the price ranges people are looking for.

Here are a few U.S. real estate outlooks for 2020:

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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