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How did the real estate market perform here in Columbus? We did the research! Find out below. 👇
If you have any questions, you can contact us via the contact form below | Call us at 614-596-2934 | email us at [email protected] | or contact us via our chatbot
Welcome to our Columbus real estate market update for February of 2022. Each month, we analyze the sales data on how the real estate market here performed during the last month. Then, we put the data into a readable and easily understandable format for both our clients and the general public.
If you have any questions about the data in this month’s report, please don’t hesitate to reach out to us. We are always happy to help. You can find our contact information at the bottom of this page.
Following a record-breaking year, January’s housing activity fell flat as new listings, contracts and home sales dropped below those of 2021.
New listings were up 11 percent in 2021 but ticked down (0.5 percent) in the first month of 2022.
Home sales and contracts dipped 2.8 percent and 0.8 percent, respectively. Even so, home sales were still higher than any other year according to the Columbus REALTORS® Multiple Listing Service (MLS).
The median home price increased 11.1 percent to $250,000 and the average home price ($290,847) increased 10.4 percent compared to January of 2021.
Despite a moderate drop in sales, the housing market was very active in central Ohio last month. We believe some buyers are getting discouraged because of the low inventory. However, with time and a bit patience, we’re confident we can get them a home in Columbus.
Population in the counties served by the Columbus REALTORS® MLS increased almost 13 percent between the 2010 and 2020 census representing 85.5 percent of the population growth for all of Ohio.
Keeping pace with the population growth, the number of new listings grew by just over 14 percent over the last decade. However, home sales have grown 58 percent during the same time frame.
Ten years ago, REALTORS® were selling 66% of the inventory. In 2021, they sold 91.3 percent!
It’s little surprise that more people want to live her. Columbus, Ohio has much to offer: parks, entertainment, arts, recreation, outdoor activities, and more. Columbus is an excellent place to live, work, and raise a family.
🏘 There were 1,862 homes for sale in January 2022 🏘
💲 The Average Price per square foot in January 2022 was $167.29 💲
💲 This price is $20.34 per square feet more expensive compared to the same time last year 💲
🏡 The average real estate listing stayed on the market for 22 days in January 2022 🏡
🏡 This is 3 days shorter than the same period last year🏡
💲 The average sale price for these listings was $290,847 (up 10.4% from last year’s amount of $263,445)
💲 The median sale price for these listings was $250,000 (up 11.1% from last year’s amount of $225,000)
See the graph below to see how the median sale price has changed, year over year, since 2013 in Columbus 👇
This graph represents what percentage of homes sell for their original list prie
Home sales are down 2.8% this year in Columbus compared to the same period last year. This can likely be attributed to a slow down in the very hot market we had mid-2020 and through most of 2021.
Still, the average sale price, median sale price, and the percentage of people receiving their expected price for their homes during a sale have all increased since the same time last year. Although last month’s data indicates a relative slow down, current data suggests that we will still likely have a relatively active real estate market this year.
If you are planning to sell your home in Columbus, Ohio this year, we recommend watching this short video here, which has some quick tips for selling your home safely in 2022.
Click the link below to get our buyer’s guide on how to buy your home in Columbus by getting mortgage ready
Contact Us
If you have any questions, you can contact us via the contact form below | Call us at 614-596-2934 | email us at [email protected] | or contact us via FB Messenger
We’ll be happy to be of service.
1560 Fishinger Road Columbus, Ohio 43221 Suite #150
Van Steyn Partners | REMAX Premier Choice
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