Central Ohio home prices continue to rise and potential home buyers have more houses to choose from in the market. Columbus REALTORS® breaks down the August housing report for central Ohio.

The average price of a home in central Ohio is still climbing as the area continues to be a desired destination to live, work, and play. 

The average sales price rose 9.7% compared to last August. The average home now sells for around $337,963. That’s an increase of nearly $30,000 year to year.

The fast growing local economy continues to uphold the real estate market. Selling a home is still profitable for most sellers.

The August housing market report also reveals home buyers have more inventory to choose from at the end of summer. Inventory jumped nearly 2.5% compared to August 2021. 

Buyers are facing a competitive market. There is more inventory, but a strong offer is still necessary because so many are competing with several other buyers. 

Home buyers will have more time to compare their potential dream home to others. Homes sat on the market for about 15 days in August. That’s up from 11 days one year ago.  

Home may stay on the market a bit longer, but homes in the top markets and in good condition are still going into contract relatively quickly.

Home buyers are not hesitating in Blacklick and Gahanna. Homes were barely on the market for a week in those two communities which are close to where the new Intel fabrication campus is being built. It will employ around 3,000 people once it opens in 2025.

Homes in Westerville, Pickerington and Worthington have spent an average of 8 days on the market this year. Realtor.com named Worthington the third hottest zip code in the nation this summer. 

Sunbury, Powell, and Grandview Heights saw significant compeition. Homes in each market spent half the amount of time on the market compared to last August. Last year, these homes would sell in about 2 weeks. Now, they go into contract in about one.