How did the Columbus Ohio Real Estate Market Perform in September, 2022?

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 September 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

Table of Contents

Central Ohio home prices continue to rise and potential home buyers have more houses to choose from in the market. Columbus REALTORS® breaks down the August housing report for central Ohio.

The average price of a home in central Ohio is still climbing as the area continues to be a desired destination to live, work, and play. 

The average sales price rose 9.7% compared to last August. The average home now sells for around $337,963. That’s an increase of nearly $30,000 year to year.

The fast growing local economy continues to uphold the real estate market. Selling a home is still profitable for most sellers.

The August housing market report also reveals home buyers have more inventory to choose from at the end of summer. Inventory jumped nearly 2.5% compared to August 2021. 

Buyers are facing a competitive market. There is more inventory, but a strong offer is still necessary because so many are competing with several other buyers. 

Home buyers will have more time to compare their potential dream home to others. Homes sat on the market for about 15 days in August. That’s up from 11 days one year ago.  

Home may stay on the market a bit longer, but homes in the top markets and in good condition are still going into contract relatively quickly.

Home buyers are not hesitating in Blacklick and Gahanna. Homes were barely on the market for a week in those two communities which are close to where the new Intel fabrication campus is being built. It will employ around 3,000 people once it opens in 2025.

Homes in Westerville, Pickerington and Worthington have spent an average of 8 days on the market this year. named Worthington the third hottest zip code in the nation this summer. 

Sunbury, Powell, and Grandview Heights saw significant compeition. Homes in each market spent half the amount of time on the market compared to last August. Last year, these homes would sell in about 2 weeks. Now, they go into contract in about one.

Central Ohio Homes for Sale & Listings

🏘 There were 3,499 homes for sale in August 2022 🏘

columbusohio inventory of homes for sale

The Average Price per Square Foot in Columbus

💲 The Average Price per square foot in August 2022 was $185.57  💲

💲 This price is 11% expensive compared to the same time last year  💲

Columbus, Ohio: Days on Market

🏡  The average real estate listing stayed on the market  for just 15 days in August 2022 🏡

💲 Columbus Ohio Home Prices 💲

💲 The average sale price for these listings was  $337,963 (up 9.7`% from last year) 

💲  The median sale price for these listings was  $295,000 (up 7.3% from last year)

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

median sale price columbus ohio 2022

Closed Home Sales vs Homes in Contract in Columbus

closed sales v in contracts columbus ohio 2022

New Listings & Single Family Sales in Columbus

new listings v single family sales columbus ohio september 2022

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 September 2022 Housing Report: At a Glance

Home sales are up 2.4% this year in Columbus compared to the same period last year. 

The average sale price and median sale price increased. However, the percentage of people who received their original list priced decreased. By many measures, the Columbus real estate market in September of 2022 has continued its “cool down.”

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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