It’s June, and with the summer heat the real estate market also heats up this time of year. Overall, prices moved up in May, though inventory came up slightly. Expect a slight slow down in early July for summer vacations, then the market usually picks back up again before the fall and winter slow down.

Read More to see how the Central Ohio real estate market did in May and to view trends.

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

The number of Homes For Sale in May 2019 was 3341 units.
<img draggable=Up 18.8% compared to April 2019
<img draggable=Up 4% compared to May 2018

The number of Homes Listed in May 2019 was 3979 units.
<img draggable=Up 16.8% compared to April 2019
<img draggable=Down 1.6% compared to May 2018

The number of Homes Closed in May 2019 was 2862 units.
<img draggable=Up 13.3% compared to April 2019
<img draggable=Down 1.1% compared to May 2018

The number of Homes Placed Under Contract in May 2019 was 3776 units.
<img draggable=Up 23.8% compared to April 2019
<img draggable=Up 19.7% compared to May 2018

Green bar chart showing Columbus OH Homes For Sale, Sold, Pending, New Listing Chart through May 2019. Most recent content in text above

Table of Columbus OH Homes For Sale, Sold, Pending, New Listing as presented in text above.

📐Central Ohio Average Price Per Square Foot

The Average Price per Square Foot on Sold homes trend is again Appreciating.* In May 2019 the Average Price Per Square Foot was $130.

<img draggable=Up 2.4% compared to April 2019
<img draggable=Up 5.7% compared to May 2018

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

Blue bar chart showing the Price Per Square Foot for homes sold in Central Ohio through May 2019. Text above.

Table showing text above with average price per square foot for sold homes in Central ohio in May 2019 compared to last month and last year.

📉Central Ohio Days on Market

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

The Average Days on Market in May 2019 was 25 days.
<img draggable=Down 13.8% compared to April 2019
<img draggable=Up 4.2% compared to May 2018

The Sold/Original List Price Ratio is Rising* at 98% for May 2019.

• 0% compared to April 2019
• 0% compared to May 2018

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

Orange bar chart showing the text above with Average Days On Market for homes sold in Central Ohio through May 2019

Table showing text above with average number of days on market in Central Ohio for May 2019.

💲Central Ohio Home Prices

The Median Sold Price trend is Appreciating* The Median Sold Price for May 2019 was $230k.
<img draggable=Up 3.1% compared to April 2019
<img draggable=Up 7% compared to May 2018

The Average For Sale Price trend is Appreciating.* The Average For Sale Price in May 2019 was $419k.
• 0% compared to April 2019
<img draggable=Up 3.5% compared to May 2018

The Average Sold Price trend is Appreciating.* The Average Sold Price in May 2019 was $263k.
<img draggable=Up 4.8% compared to April 2019
<img draggable=Up 8.2% compared to May 2018

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

Blue bar chart showing the text above with pricing trends for Central Ohio through May 2019

Table comparing home prices in Central Ohio from last month to last year as presented in the text above.

 

🏘️ Central Ohio Months Of Inventory

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

The Months of Inventory based on Closed Sales in May 2019 was 1.2.
<img draggable=Up 9% compared to April 2019
<img draggable=Up 9% compared to May 2018

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

Orange chart showing text above for Months Of Inventory in Central Ohio through May 2019

Table compares months of inventory for closed sales in May 2019 to last month and last year as provided in the text above.

 

📈Central Ohio Absorption Rate

The Absorption Rate based on Closed Sales in May 2019 was 85.7.
<img draggable=Down 4.6% compared to April 2019
<img draggable=Down 4.9% compared to May 2018

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

Green chart shows text above for Central Ohio Absorption Rate through May 2019

Table compares Absorption Rate in Central Ohio for May 2019 to last month and last year as provided in the text above.

 

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 shows all data from this report plus previous months data for Central Ohio housing market.

Central Ohio Home Sellers

Planning to sell your home soon? Sellers Markets don’t last forever. As stated above, July can sometimes slow down as many people go on vacation, and the market will probably pick back up in August. If you want to take advantage of the summer selling season before it ends, the time to prepare your home is now. You will want to get it listed at the right price in order to sell quickly for as much as possible.

*Note: Central Ohio’s current Seller’s Market is driven by lower priced homes due to higher demand and lower inventory. 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.

If you want to list and sell your home, talk with a top Columbus real estate agent.

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

Mortgage rates are at two year lows, and home are values in Central Ohio are predicted to continue to rise, so it’s a great time to buy a home. Combine those factors with the slightly higher inventory, and it may just be the perfect time to find your dream home!

It’s a hot seller’s market though, so be prepared. If you’re serious about buying a home in the near future, be ready before finding the perfect home. Fix any issues with your credit. Then, talk with a mortgage professional to get pre-approved.

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

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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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