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 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

Although inventory has been decreasing for the better part of 12 years, the central Ohio housing market saw year over year gains in the third quarter resulting in record home sales.

Third quarter saw 12,291 homes added to the market, which was almost 13 percent higher than 2020 (10,903). This is the highest number of new listings added in a quarter since 2006 when total inventory was over 18,600 and REALTORS® were selling 53 percent of the new listings.

Last quarter, home sales averaged over 3,600 as REALTORS® sold almost 90 percent of the new listings setting new records for home sales in central Ohio.

We’ve had relatively scarce inventory over the past few years. This created a competitive market, which caused angst for many home buyers. This increase in new listings is beneficial, as Columbus is now seeing significant increases in homes both going into contract and selling. 

The average sale price increased 8.5 percent to $301,572 and the median price was $269,900 in September, a gain of 12.5 percent. Year to date, the average sale price was $298,817 and the median sale price was $260,000, up 13.5 percent and 13.0 percent respectively.

Conventional financing still reigns with almost 64 percent of the home sales in 2021.

The share of homes that sold for cash, versus financing, is just over 20 percent this year which is 1.5 percent more than in 2016, but still 7.3 percent fewer than homes sold a decade ago.

Many cite cash sales as a reason many home buyers have been at a disadvantage in winning their bids.  Nonetheless, new data suggests that buyers seeking financing still dominate the majority of home sales – and that they can be quite competitive.  

The time it took to sell a home rose to 14 days last month.

Homes under $350,000 sold in an average of 12 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 19 days, and homes over $700,000 were on the market for an average of 26 days.

For the first three quarters 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 25 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.

Any Questions?

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 mvansteyn@premier-choice.com | or contact us via FB Messenger

We’ll be happy to be of service.

614-596-2934

Address: 450 W Wilson Bridge Rd, Worthington, OH 43085

Email: mvansteyn@premier-choice.com