How did the Columbus Ohio Real Estate Market Perform in October, 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 mvansteyn@premier-choice.com | 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

Home sales were up 5.0 percent in October to 3,395. At 30,497 year-to-date (January through October), home sales are on track to set a new annual record for central Ohio.

There were 3,336 homes listed for sale in October, down 1.5 percent from last year and 8.6 percent from the previous month according to the Columbus REALTORS® Multiple Listing Service.

“We had fewer listings added to the market in October, but that’s more a factor of seasonality,” said Michael Jones, 2021 President, Columbus REALTORS®. “Housing activity usually slows down a little when the temperatures start to cool and the holidays are approaching.”

The median sale price increased 8.9 percent to $261,478 and the average sale price was up 8.2 percent in October to $298,473.

Year to date, the average sale price is $298,730 and the median sale price is $260,000, up 12.9 percent and 12.6 percent respectively.

“Although, we’re still seeing high demand for homes in all price ranges, last month, homes sales over $350,000 were responsible for increased market shares,” added Jones. “We saw fewer homes sold under $350,000 due, in great part, to the lack of adequate supply.”

Roughly one in four homes (23.8 percent) were cash transaction in October. Of those buyers that financed their home purchase, 58.4 percent used conventional financing, ten percent used FHA financing and 4.8 percent secured a VA loan.

It took an average of 15 days to sell a home in October.

Homes under $350,000 sold in an average of 13 days. Homes sold between $350,000 and $500,000 took about 15 days to sell. Homes in the $500,000 to $700,000 price range sold in an average of 21 days, and homes over $700,000 were on the market for an average of 32 days.

For the first ten months of 2021, homes have sold in an average of 16 days. Breaking this down by price range, homes under $350,000 sold in an average of 13 days. Homes priced $350,000 -$500,000 took 17 days. Homes between $500,000 and $700,000 took 24 days to sell and homes over $700,000 sold in an average of 36 days.

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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Email: mvansteyn@premier-choice.com

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