Given the current healthcare emergency, it is difficult to know what the Columbus real estate market will do in the near future. If you need to buy or sell a home during this time, please contact us at 614-547-3229. You can always start your home search online from your home at RitaBoswellGroup.com.

Read More to see how the Columbus Ohio Real Estate Market did in February and to view trends.

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

The number of Homes For Sale in February 2020 was 2981 units.
<img draggable=Down 7.9% compared to January 2020
<img draggable=Down 9.3% compared to February 2019

The number of Homes Listed in February 2020 was 2539 units.
<img draggable=Up 1.8% compared to January 2020
<img draggable=Up 8.3% compared to February 2019

View Homes Listed In The Last 30 Days In Central Ohio

 

The number of Homes Closed in February 2020 was 2010 units.
<img draggable=Up 10.3% compared to January 2020
<img draggable=Up 7.6% compared to February 2019

View Homes SOLD In The Last 30 Days In Central Ohio

 

The number of Homes Placed Under Contract in February 2020 was 2941 units.
<img draggable=Up 17% compared to January 2020
<img draggable=Up 33% compared to February 2019

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

Columbus Ohio Homes For Sale, Sold, Pending, and Newly Listed through February 2020

comparing homes for sale in Columbus Ohio in February to last month and last year

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 Appreciating.* In February 2020 the Average Price Per Square Foot was $127.

<img draggable=Up 4.1% compared to January 2020
<img draggable=Up 5.8% compared to February 2019

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

price per square foot of homes sold in Columbus Ohio through February 2020)

Chart comparing the Average Sold Price Per Square Foot in Central Ohio in February 2020

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 February 2020 was 41 days.
<img draggable=Up 2.5% compared to January 2020
<img draggable=Down 8.9% compared to February 2019

The Sold/Original List Price Ratio is Falling* at 97% for February 2020.

<img draggable=Up 2.1% compared to January 2020
<img draggable=Up 1% compared to February 2019

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

Average Days on Market of (number of days) in Central Ohio in February 2020

comparing the days on market for homes sold in Central Ohio in February 2020

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 February 2020 was $211k.
<img draggable=Up 6% compared to January 2020
<img draggable=Up 11.1% compared to February 2019

The Average For Sale Price trend is Appreciating.* The Average For Sale Price in February 2020 was $358k.
<img draggable=Up 3.2% compared to January 2020
• 0% compared to February 2019

The Average Sold Price trend is Neutral.* The Average Sold Price in February 2020 was $238k.
<img draggable=Up 2.6% compared to January 2020
<img draggable=Up 10.2% compared to February 2019

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

Columbus OH Housing prices through February 2020

Compare For Sale and Sold Prices for Columbus OH housing in February 2020

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 February 2020 was 1.5.
<img draggable=Down 16.9% compared to January 2020
<img draggable=Down 17.1% compared to February 2019

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

chart of months of inventory in Central Ohio through February 2020 Table Compares Months of Inventory in Central Ohio in February 2020 to last month and last year

Quick Guide: Months Of Inventory | Median Price

📈Central Ohio Absorption Rate

The Absorption Rate based on Closed Sales in February 2020 was 67.4.
<img draggable=Up 19.5% compared to January 2020
<img draggable=Up 18.6% compared to February 2019

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

Chart of the Absorption rate of 67.4 in Central Ohio in February 2020

Table Compares the Absorption Rate in February 2020 and year to last month and last year in Central Ohio

Quick Guide: Absorption Rate

Central Ohio Housing Market Report At A Glance

Summary of Columbus OH Real Estate Market Report for March 2020

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

Central Ohio Real Estate Market Report Table all data through February 2020

Central Ohio Home Sellers

We’re still in a Seller’s Market in Central Ohio, and home values are in a long term uptrend.

If you are ready to sell your Columbus home soon, now is the time to start preparing, especially with decluttering and spring cleaning if you’re stuck at home. Get in touch with us 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. Deep cleaning ALWAYS helps a home sell.

Buyer demand may be delayed in the short term. But, once we get past this healthcare crisis (and we will), buyers will be back out buying homes. Whatever the market conditions are when you list your home, it’s very important that you do not overprice it.

*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 likely going lower, 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. It’s understandable if you do not want to see homes in the near term, but once we get past this, it could be an ideal time to buy a home. Start your home search anytime on our website.

Browse Price Reduced Homes In Central Ohio

Because we’re still in an overall seller’s market, pre-approval is key. 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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