What happened to Autumn?! Winter has come early and the Holidays are fast approaching. Even though the holiday season and the cold weather slow the real estate market down, statistically this is the best time to buy a home. Plus, it’s still a seller’s market, so it’s good for homeowners too.

Keep reading for the full report and to view trends.

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

The number of Homes For Sale in October 2019 was 4049 units.
<img draggable=Down 0.4% compared to September 2019
<img draggable=Down 4% compared to October 2018

The number of Homes Listed in October 2019 was 3005 units.
<img draggable=Down 1.5% compared to September 2019
<img draggable=Up 8.4% compared to October 2018

View Homes Listed In The Last 30 Days In Central Ohio

 

The number of Homes Closed in October 2019 was 2446 units.
<img draggable=Down 7.3% compared to September 2019
<img draggable=Down 4% compared to October 2018

View Homes SOLD In The Last 30 Days In Central Ohio

 

The number of Homes Placed Under Contract in October 2019 was 3141 units.
<img draggable=Up 22% compared to September 2019
<img draggable=Up 27.9% compared to October 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 Depreciating.* In October 2019 the Average Price Per Square Foot was $127.

• 0% compared to September 2019
<img draggable=Up 5.8% compared to October 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 October 2019 was 27 days.
<img draggable=Up 8% compared to September 2019
<img draggable=Down 10% compared to October 2018

The Sold/Original List Price Ratio is Falling* at 96% for October 2019.

<img draggable=Down 1% compared to September 2019
• 0% compared to October 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 October 2019 was $217k.
<img draggable=Down 0.5% compared to September 2019
<img draggable=Up 6.9% compared to October 2018

The Average For Sale Price trend is Depreciating.* The Average For Sale Price in October 2019 was $359k.
<img draggable=Down 2.4% compared to September 2019
<img draggable=Up 0.3% compared to October 2018

The Average Sold Price trend is Depreciating.* The Average Sold Price in October 2019 was $249k.
<img draggable=Down 0.4% compared to September 2019
<img draggable=Up 6% compared to October 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 October 2019 was 1.7.
<img draggable=Up 13% compared to September 2019
• 0% compared to October 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 October 2019 was 60.4.
<img draggable=Up 13% compared to September 2019
• 0% compared to October 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

If you need to sell your home, it remains a sellers market overall. There are pros and cons to selling a home in the winter. There will be less competition, but there are also fewer buyers. It’s also important to keep in mind that on average winter home prices generally move down and the average days on market tends to go up by a few days.

Breathtaking seasonal home staging and accurate home pricing are keys to selling a home in the winter.

*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 are different from one neighborhood to another and one price point to another. 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

Winter can be the best time to buy a home. So, it’s a great time to start your home search. There will be fewer buyers to compete with, and homes will be on the market a little longer. This will give you a better opportunity to think about the homes you are looking at, and you may be less likely to find yourself in a hot multiple-offer situation with the home’s price quickly escalating.

It is still a sellers market. Make sure your financials are in order before finding the perfect home. Connect with a mortgage professional to get pre-approved. Getting pre-approved before starting your home search will save you the headache of looking for homes outside of your price range.

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.”

 

View All Market Reports Posts