How did the Columbus Ohio Real Estate Market Perform in September, 2021?

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 FB Messenger

Watch Below for the Summary Video:

Welcome to our Columbus real estate market update for October of 2021. 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

Table of Contents

There are two sides to a coin. That’s been the prevailing feeling around the real estate market in central Ohio over the last six to eight months.

While the average and median sales prices have continued to increase, the increase in mortgage rates has caused the total number of sales to decline.

The central Ohio housing statistics provided by Columbus REALTORS® show a 19.2 percent decrease in closed sales year over year for the month of January. There were 1,515 closed sales in the first month of 2023, which more closely mirrored the pre-pandemic years of 2018 (1,635) and 2019 (1,602).

Columbus REALTORS® 2023 President Patti Brown-Wright can sense that buyers and sellers are in a bit of a holding pattern.

We are still seeing plenty of demand in the greater Columbus, Ohio area’s real estate market. Historically, January is fairly tough for sales. For many reasons, many homeowners are simply sitting on their homes. This means that inventory is low.

Last month there were 1,458 new listings in central Ohio, and this month there was a 28 percent increase, up to 1,873.  The total inventory of homes for sale is 2,471, which marks a 29 percent uptick over last year’s January inventory.

On Feb. 2, the Mid-Ohio Regional Planning Commission issued its updated models that project the region to balloon to 3.15 million people over the next 25 years. That growth will equate to an additional 272,000 households.

Although these projections are exciting, they’re also a warning. It will be important for key stakeholders to build houses, schools, and infrastructure in order to support this level of demand.

One trend that is becoming more noticeable month-to-month is that buyers are becoming more willing to venture outside of the I-270 loop to find a home. In January, Pickerington saw a 17.5 percent spike in closed sales while the average sale price rose 15 percent to $411,000. The same can be said for Lancaster, where closed sales were up 17.6 percent while the average sale price climbed up 8.3 percent to $224,308.

Licking County has been under the microscope with Intel’s “Ohio One” semiconductor campus now under construction. Housing inventory in Johnstown, New Albany, and Granville has been limited, so buyers are turning their attention to other towns like Pataskala to find their forever home. In January, Pataskala saw a 29 percent increase in closings with an average sales price of $361,626.

Homes are currently sitting on the market for 32 days. That’s up three days over last month and 10 days over January 2022.

Recently, The Wall Street Journal and Realtor.com® released the Winter 2023​ Emerging Housing Markets Index, which revealed Columbus, Ohio, is now the No. 9 emerging market in America.

Central Ohio Homes for Sale & Listings

🏘 There were 3m152 homes for sale in September 2021 🏘

columbus-ohio-inventory-homes-for-sale-september-2021

The Average Price per Square Foot in Columbus

💲 The Average Price per square foot in September 2021 was $167.24  💲

💲 This price is $17.24 per square feet more expensive compared to the same time last year  💲

Columbus, Ohio: Days on Market

🏡  The average real estate listing stayed on the market  for just 14 days in September 2021 🏡

💲 Columbus Ohio Home Prices 💲

💲 The average sale price for these listings was  $301,572 (up 8.5% from last year) 

💲  The median sale price for these listings was  $269,900 (up 12.5% from last year)

See the graph below to see how the median sale price has changed, year over year, since 2013 in Columbus 👇

columbus ohio median sale price september 2021

Closed Home Sales vs Homes in Contract in Columbus

columbus ohio closed home sales & in contracts september 2021

New Listings & Single Family Sales in Columbus

Percentage of Original List Price Received

This graph represents what percentage of homes sell for their original list prie

columbus ohio percentage of original price received for homes in september 2021

Condo Sales in Central Ohio

columbus ohio condo sales in september 2021

The Columbus, OH July 2020 Housing Report: At a Glance

columbus ohio real estate market overview for september 2021

Home sales are up 5.8% this year in Columbus compared to the same period last year. 

Further, 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 last year. By all measures, the Columbus real estate market in September of 2021 has continued its “hot streak.” It will be worth paying significant attention to see the long term effects such a (relatively) long hot streak might have.

How to Sell Your Home Safely in Columbus

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 2021.

How to Buy a Home in Columbus

Click the link below to get our buyer’s guide on how to buy your home in Columbus by getting mortgage ready

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Van Steyn Partners does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Van Steyn Partners will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

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