How did the Columbus Ohio Real Estate Market Perform in April, 2023?

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

Welcome to our Columbus real estate market update for May of 2023. 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

The median sale price in central Ohio rose above $300,000 for the first time since July of 2022 in the latest housing statistics for April 2023 from Columbus REALTORS®.

The median sales price rose 4% year-over-year and 5.5 percent month-over-month. This is only the fourth time that the median sales price has crept over the $300,000 mark since statistics began being tracked by Columbus REALTORS®. The other three occurrences were in May of 2022 ($310,830), June of 2022 ($315,000), and July of 2022 ($300,563).

There were 2,175 closed sales in April, a 21.5% decrease year-over-year and a 5.6% decrease compared to March.

May of last year was about the peak of the market here in Columbus, Ohio. Around that time last year, we had even less inventory than we do now, and homes were selling at an average rate of about 13 days. Mortgage rates are higher, but there’s still significant demand here in the city.

In April, the average number of days on the market dropped to 24. In March, homes averaged 34 days on the market. The percentage of the last list price received also ticked up to 101.1%. Last year, at the market’s peak, homes sold for nearly 5% over asking.

Inventory us playing a significant role here. In a balanced market, there is about 5-6 months of inventory. Currently, we have less than a month. This is making central Ohio quite the seller’s market. However, high inflation and shocks to the economy may reduce the number of buyers and therefore apply some demand-side, downward pressures on the price of homes in Columbus.

If you’re planning to buy or sell in Columbus this year, a Columbus, Ohio REALTOR can help increase your chances of success. As REALTORS, we have the most current data, we know the area well, and we can help you find the home for you or sell your home at a competitive price.

While the median sales price is rising, this marked the second straight month that overall appreciation has slowed. In March of 2023, the median sales price year-over-year increased by only 2.5%, and this month that number sat at 4%, far below the double-digit monthly increases over the last 2-3 years.

Tracking similarly to the median sales price was the average sales price in the region. In April, the average sale price rose to $340,712, a 2% increase over this time in 2022.

Rates on a 30-year fixed mortgage hovered slightly over 7% in April, and according to statistics from the Central Ohio Regional MLS, 20% of all closed sales in April were cash sales, while 65% were conventional mortgages and 16% were government-backed loans.

In the local market spotlight, Marion saw a 19% increase in closed sales (50). The average sales price in Marion was $165,667, roughly half the cost of the average sale price in central Ohio. Big Walnut LSD in Sunbury also saw a 50% rise in closings as their average sales price climbed 16.2% to $533,230 in April. Of the 2,175 closings in central Ohio, 54% occurred in Franklin County, where the average sale price increased 2.5% to $340,434.

Columbus checked in seventh in this month’s Top-20 Hottest Housing Markets. That marked a three-position drop from March when Columbus was ranked fourth.’s Market Hotness rankings consider two aspects of the housing market: 1) market demand, as measured by unique views per property on, and 2) the pace of the market, as measured by the number of days a listing remains active on

Central Ohio Homes for Sale & Listings

🏘 There were 2,368 homes for sale in September 2021 🏘

inventory of homes for sale columbus ohio april 2023

The Average Price per Square Foot in Columbus

💲 The Average Price per square foot in April 2023 was $193.22  💲

💲 This price is 4.1% more expensive compared to the same time last year  💲

Columbus, Ohio: Days on Market

🏡  The average real estate listing stayed on the market just 24 days in April 2023 🏡

🏡  This is an increase of over 84% from 13 days from the same time last year 🏡

💲 Columbus Ohio Home Prices 💲

💲 The average sale price for these listings was  $340,712 in April 2023 (up 2.0% from last year) 

💲  The median sale price for these listings was  $301,705 in April 2023 (up 4.0% from last year)

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

median sales price of listings columbus ohio april 2023

Closed Home Sales vs Homes in Contract in Columbus

closed home sales and in contracts columbus ohio real estate 2023

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

Condo Sales in Central Ohio

The Columbus, OH April 2023 Housing Report: At a Glance

columbus ohio real estate market data summary april 2023

Closed home sales are down 21.5% this year in Columbus compared to the same period last year. This is indicative of the lower supply. This low supply may provide challenges to both buyers and sellers, but you can increase your odds of success by working with experienced, Columbus, Ohio REALTORS.

The average sale price and median sale price, both increased. The percentage of people receiving their listed price decreased. By most measures, we are in a challenging market for both buyers and sellers. You can always contact us if you have any questions.

How to Buy a Home in Columbus

Click below to get our latest buyer’s guide to success in Columbus, Ohio real estate.

How to Sell a Home in Columbus

Click below to get our latest seller’s guide to success in Columbus, Ohio real estate.

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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