As expected, the market is experiencing its usual seasonal cool down. It is still a seller’s market, but fall and winter are the best time to buy a home.
Price reductions will become more common, especially for higher priced homes, and Days On Market will move up. Prices should come down slightly.
Lower priced homes remain in high demand and are still fueling the Seller’s Market.
Keep reading to really dig into the numbers.
- 🏘️ Columbus OH Homes For Sale, Listed, Sold, & Pending
- 📏Columbus Average Price Per Square Foot
- 📉Days on Market in Central Ohio
- 💲Columbus OH Home Prices
- 📅Columbus OH Months Of Inventory
- 📈Columbus OH Absorption Rate
- Columbus Ohio Real Estate Market Report At A Glance
- Bottom Line For Columbus OH Home Sellers
- Bottom Line For Columbus OH Home Buyers
🏘️ Columbus OH Homes For Sale, Listed, Sold, & Pending
The number of Homes For Sale in September 2018 was 4295 units.
• Up 1.9% compared to Aug 2018
• Up 0.6% compared to Sept 2017
The number of Homes Listed in September 2018 was 2739 units.
• Down 20.5% compared to Aug 2018
• Down 3.5% compared to Sept 2017
The number of Homes Sold in September 2018 was 2324 units.
• Down 22.9% compared to Aug 2018
• Down 14% compared to Sept 2017
The number of Homes Placed Under Contract in September 2018 was 2797 units.
• Down 1.2% compared to Aug 2018
• Up 11.2% compared to Sept 2017
📏Columbus Average Price Per Square Foot
📉Days on Market in Central Ohio
The average Days On Market trend in Columbus is Steady*!
The Average Days on Market in September 2018 moved up to 26 days.
• Up 18.2% compared to Aug 2018
• 0% compared to Sept 2017
The Sold/Original List Price Ratio fell* to 96% in September 2018.
• Down 1% compared to Aug 2018
• Down 1% compared to Sept 2017
*Based on 6 month trend – Rising/Falling/Remains Steady
💲Columbus OH Home Prices
The Median Sold Price trend is depreciating* for September 2018 at $204k.
• Down 3.3% compared to Aug 2018
• Up 9.7% compared to Sept 2017
The Average For Sale Price is also depreciating* at $365k.
• Down 1.4% compared to Aug 2018
• Up 4.6% compared to Sept 2017
The Average Sold Price trend remains Neutral* at $243k.
• Up 1.3% compared to Aug 2018
• Up 11% compared to Sept 2017
*Based on 6 month trend – Appreciating/Depreciating/Neutral
📅Columbus OH Months Of Inventory
📈Columbus OH Absorption Rate
Columbus Ohio Real Estate Market Report At A Glance
If you need to sell, it is still a Seller’s Market overall, so it’s a good time list your home for sale. However, as we approach the holidays, home sellers will need to use the right pricing and marketing strategy for the season.
Since lower priced homes remain in very high demand, it’s the perfect time to sell and move-up. In fact, this is an ideal time to move-up since predictions indicate interest rates and prices will continue to rise through 2019.
Many home owners want to wait until Spring to sell. In that case, now is the time to prepare. Each year of this Seller’s Market, the market seems to heat up earlier and earlier. This means sellers need to be ready to list in February or March if they want to get buyers as soon as the market becomes more active.
Call or text Realtor Rita Boswell at 614-547-3229 to learn more about selling a home. It’s especially important to work with an experienced real estate expert if you’re going to sell a home during the Holiday Season.
It’s still a Seller’s Market, but winter is actually a great time to buy a home.
As noted above, housing predictions indicate that interest rates and home prices will continue to move up through next year. While still relatively low, each rate hike will decrease buying power, especially when paired with continued increases in housing prices.
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 report 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.”