The 2022 final housing market update looks at the overall market performance for the year versus 2021.
Note: LSD= Local School District, CSD= City School District. In both cases, school district boundaries differ from city boundaries.
Closed sales are those sales that were completed during the year. 7 of the 10 metro counties saw declines vs. 2021.
Overall Market Median Sales Price in 2022: $298,748 Based on the 10 Columbus Metro Area counties, the median price increased by $34,139 over 2021. Overall Market Median Sales Price % Change in 2022 versus 2021: +12.9%
Best in the case of market median price % change is subjective. For buyers, it would be prices that have increased the least or even declined, while for sellers it would be the largest increases.
Total Metro New Listings in 2022: 31,652 Total Metro New Listings Change from 2021 to 2022: -3,508 Thousands of fewer homes going to market helped keep prices rising across the metro despite a significant slowdown in overall sales.
Average # of Days Homes Remain on the Market Before Sale for the Metro Overall in 2022: 20.0 # of Days Homes Remain on the Market Before Sale % Change for the Metro 2021 vs. 2022: +9.3%
This new data shows whether a market was receiving more or less than the original list price for the homes for sale. Those above 100% were markets that typically had buyer competition to the point where they had to pay more than list. Those below 100% were the opposite, where relatively lower demand allowed some buyers to get a home for under list.
And there you have it, the final housing market update for 2022!
The Housing Market Update November 2022 data from Columbus Realtors showed home sales were down nearly 30% from a year ago, and new listings decreased nearly as much. However, prices remained on their trajectory upwards across the metro area.
Note: LSD= Local School District, CSD= City School District. In both cases, school district boundaries differ from city boundaries.
Closed sales are those sales that were completed during the month. 9 of the 10 metro counties saw declines, with 8 of them being fairly significant. Few markets were up year-over-year. The worst-performing were mostly among the metro’s most expensive areas, but there were a few standouts otherwise.
No real surprises except that the greatest increases were in the far southeast metro counties, but that could be because of working with a small supply. Overall Market Median Sales Price in November 2022: $302,867 Based on the 10 Columbus Metro Area counties, the metro price saw a more than $29,000 increase over November, 2021. Overall Market Median Sales Price % Change in November, 2022 versus November, 2021: +10.1% Despite the relative collapse in home sales, prices continued to rise by more than 10% year-over-year.
Most counties saw new listing totals drop year-over-year. This may have helped keep prices going up as demand hasn’t evaporated. Total Metro New Listings in November, 2022: 1,723 Total Metro New Listings Change from November, 2021 to November, 2022: -489
Average # of Days Homes Remain on the Market Before Sale for the Metro Overall in November, 2022: 23.1 # of Days Homes Remain on the Market Before Sale for the Metro November, 2021 vs. November, 2022: +10.5 Homes sold more slowly around the Columbus metro, but only by a few days. The rate of sale is still historically fast.
The Housing Market Update October 2022 data from Columbus Realtors showed a significant slowdown in home sales, but that it didn’t mean homes got cheaper in the process.
Note: LSD= Local School District, CSD= City School District. In both cases, school district boundaries differ from city boundaries.
Closed sales are those sales that were completed during the month. They dropped significantly in most counties year-over-year as rising interest rates slowed the white-hot market. But what markets slowed down the most? Only a handful of markets saw an increase, including Johnstown, which is presumably seeing movement due to the Intel project. Most places on this list tended to be among the most expensive local markets, but not all.
Most counties continued to see price increases, though some were much more modest than others. Franklin County was in the middle of the pack.
Overall Market Median Sales Price in October 2022: $304,583 Based on the 10 Columbus Metro Area counties, the metro price saw about a $12,000 increase vs September, 2022 and a more than $30,000 increase over October, 2021. Overall Market Median Sales Price % Change in October, 2022 versus October, 2021: +10.6%
Now let’s take a look at individual neighborhoods and places within the metro area.
There are few surprises on this chart.
Only 3 markets had a median price below $200,000, 2 of which were within I-270.
Most counties saw new listing totals drop year-over-year. This is one of the reasons prices remained higher despite large sales drops.
Total Metro New Listings in October, 2022: 2,401 Total Metro New Listings Change from October, 2021 to October, 2022: -497 Year-over-year, new listings were down yet again.
Average # of Days Homes Remain on the Market Before Sale for the Metro Overall in October, 2022: 24.6 # of Days Homes Remain on the Market Before Sale for the Metro October, 2021 vs. October, 2022: +8.2 Homes across the market sold more than a week more slowly year-over year in October.
Aside from the half-dozen markets that saw declines, most saw fairly significantly increases in the number of days before sale year-over year.
Overall, the October housing market showed strong signs of a slowdown, but so far, this hasn’t prevented further price increases. Demand for homes seems to be continuing to outpace supply, but perhaps not quite to the level it was earlier in the year.
The Housing Market Update September 2022 data from Columbus Realtors continued to support that the local housing shortage is as bad as ever, with low supplies and rising prices.
Note: LSD= Local School District, CSD= City School District. In both cases, school district boundaries differ from city boundaries.
The least populated counties saw some of the largest swings either positively or negatively, which is typically the case given that prices can be determined by a much smaller number of home sales.
Overall Market Median Sales Price in September 2022: $316,812 Based on the 10 Columbus Metro Area counties, the metro price saw about a $10,000 increase over August 2022 and a more than $42,000 increase versus September 2021. Overall Market Median Sales Price % Change in September 2022 versus September 2021: +15.4%
Now let’s take a look at individual neighborhoods and places within the metro area.
New Albany and some of the other expected suburbs continued to top the charts, but with prices not quite as high as over the summer.
Just 4 local markets out of more than 50 remained below the $200K market in September. Columbus itself was in it usual spot closer to the *relatively* more affordable bottom.
Total Metro New Listings in September 2022: 2,725 Total Metro New Listings Change from September 2021 to September 2022: -500 Year-over-year, new listings were down significantly across the metro area, but especially in Franklin County.
Average # of Days Homes Remain on the Market Before Sale for the Metro Overall in September 2022: 19.9 # of Days Homes Remain on the Market Before Sale for the Metro September 2021 vs. September 2022: -0.3 Homes across the market sold slightly faster than a year ago, but largely due to significant drops in a few rural counties. Most counties saw small increases.
The vast majority of local markets saw substantial increases in the number of days before sale, which is pretty much the only measurement indicating the seller’s market may finally be showing some signs of weakness.
For the Housing Market Update August 2022, data from Columbus Realtors shows that the overall market saw a decrease in home sales and units on the market versus a year ago, a situation that contributed to the continuation of rising prices. So far, it doesn’t appear there has been any sustained impact yet from increasing interest rates. More data was added to this update than usual, including some county-level information.
Note: LSD= Local School District, CSD= City School District. In both cases, school district boundaries differ from city boundaries.
Median Sales Price By Columbus Metro County in August 2022 and Total Change vs. August 2021 1. Delaware: $448,000 +$34,000 2. Union: $420,000 +$83,500 3. Fairfield: $308,950 +$13,950 4. Hocking: $306,000 +$135,550 5. Pickaway: $295,000 +$42,000 6. Franklin: $285,700 +$15,700 7. Licking: $285,500 +$10,600 8. Madison: $272,000 +$9,500 9. Morrow: $230,000 +$50,000 10. Perry: $216,000 -$4,000
Median Sales Price % Change August 2022 vs. August 2021 1. Hocking: +79.5% 2. Morrow: +27.8% 3. Union: +24.8% 4. Pickaway: +16.6% 5. Delaware: +8.2% 6. Franklin: +5.8% 7. Fairfield: +4.7% 8. Licking: +3.9% 9. Madison: +3.6% 10. Perry: -1.8% Licking County saw relatively low growth in its home prices the past year, but that is almost certainly to change in the near future. Franklin County median home prices are still in the bottom half for total and growth.
Overall Market Median Sales Price in August: $306,715 Based on the 10 Columbus Metro Area counties. This price was a bit lower than in July, but almost $40,000 higher than August, 2021.
Top 15 Most Expensive Locations By Median Sales Price in August 2022 1. New Albany: $750,000 2. Grandview Heights: $685,000 3. New Albany Plain LSD: $575,500 4. Bexley: $575,000 5. Powell: $563,000 6. German Village: $554,500 7. Dublin: $552,500 8. Upper Arlington CSD: $540,000 9. Olentangy LSD: $500,000 10. Dublin CSD: $485,000 11. Short North: $465,000 12. Jonathan Alder LSD: $443,900 13. Granville CSD: $426,500 14. Northridge LSD: 417,340 15. Big Walnut LSD: $414,000 Median prices were generally lower in August than July, but still up versus August 2021.
Top 15 Least Expensive Metro Locations by Median Sales Price in August 2022 1. Circleville CSD: $150,000 2. Whitehall: $171,600 3. Valleyview: $184,900 4. Hamilton LSD: $187,500 5. Miami Trace LSD: $203,000 6. Lancaster CSD: $210,000 7. Jefferson LSD: $219,750 8. Newark CSD: $220,000 9. Columbus CSD: $234,900 10. Groveport Madison LSD: $250,000 11. Columbus: $256,000 12. South Western CSD: $273,700 13. Reynoldsburg CSD: $276,450 14. London CSD: $276,750 15. Minerva Park: $284,950
Top 15 Metro Locations with the Highest Median Sales Price % Growth Between August 2021 and August 2022 1. Bexley: +70.4% 2. Newark CSD: +29.4% 3. Obetz: +28.8% 4. London CSD: +25.8% 5. Grove City: +20.7% 6. Valleyview: +19.3% 7. Teays Valley LSD: +19.2% 8. Grandview Heights: +19.1% 9. Marysville CSD: +18.4% 10. Hilliard: +17.9% 11. Beechwold/Clintonville: +17.0% 12. Gahanna: +17.0% 13. Powell: +16.7% 14. New Albany: +16.3% 15. New Albany Plain LSD: +15.8% 16. Blacklick: +15.7%
Top 15 Locations with the Lowest Median Sales Price % Growth Between August 2021 and August 2022 1. Circleville CSD: -20.6% 2. Minerva Park: -9.3% 3. Granville CSD: -6.3% 4. Hamilton LSD: -3.8% 5. Jefferson LSD: -3.2% 6. Lancaster CSD: -2.8% 7. Big Walnut LSD: -0.4% 8. Buckeye Valley LSD: +0.9% 9. Downtown: +1.0% 10. Sunbury: +1.1% 11. Westerville: +2.2% 12. Johnstown-Monroe LSD: +3.2% 13. Columbus: +3.6% 14. Canal Winchester CSD: +4.3% 15. Westerville CSD: +4.5%
Overall Market Median Sales Price % Change August 2022 vs. August 2021:+14.6%
New Listings by Metro County in August 2022 and Change From August 2021 1. Franklin: 1,837 -361 2. Delaware: 314 -46 3. Licking: 255 -56 4. Fairfield: 230 -61 5. Pickaway: 91 +2 6. Union: 90 -19 7. Madison: 44 -4 8. Morrow: 40 -23 9. Hocking: 35 -9 10. Perry: 35 +7
Total Metro New Listings in August 2022: 2,971 Total Metro New Listings Change from August 2021 to August 2022: -570
% Change of New Listings by Metro County August 2021-August 2022 1. Morrow: -36.5% 2. Fairfield: -21.0% 3. Hocking: -20.5% 4. Licking: -18.0% 5. Union: -17.4% 6. Franklin: -16.4% 7. Delaware: -12.8% 8. Madison: -8.3% 9. Pickaway: +2.2% 10. Perry: +25.0%
% Change of Metro New Listings August 2021 to August 2022: -16.1% New listings continued year-over-year declines. Until the supply really starts to grow- or demand falls- prices will continue to rise.
Top 10 Locations with the Most New Listings in August 2022 1. Columbus: 1,224 2. Columbus CSD: 856 3. South Western CSD: 192 4. Olentangy LSD: 155 5. Hilliard CSD: 135 6. Westerville CSD: 122 7. Dublin CSD: 111 8. Pickerington LSD: 87 9. Upper Arlington CSD: 81 10. Grove City: 71
Top 10 Locations with the Fewest New Listings in August 2022 1. Valleyview: 1 2. Minerva Park: 3 3. Lithopolis: 6 4. Obetz: 6 5. Jefferson LSD: 8 6. Granville CSD: 9 7. Sunbury: 11 8. New Albany: 12 9. Grandview Heights: 13 10. Northridge LSD: 14 11. Miami Trace LSD: 14 12. German Village: 16 13. Bexley: 16
Metro Counties by # of Days Homes Remain on the Market Before Sale in August 2022 1. Fairfield: 12 2. Franklin: 13 3. Licking: 13 4. Union: 14 5. Delaware: 16 6. Perry: 16 7. Madison: 18 8. Hocking: 22 9. Pickaway: 26 10. Morrow: 36
Average # of Days Homes Remain on the Market Before Sale for the Metro Overall in August 2022: 18.6 # of Days Homes Remain on the Market Before Sale for the Metro August 2021 vs. August 2022: +7.0 In one of the few signs of a potential slowdown, homes took a week more on average to sell than they did during the same period last year.
Top 10 Fastest-Selling Locations by # of Days Homes Remain on the Market Before Sale in August 2022 1. Valleyview: 4 2. Blacklick: 6 3. Lithopolis: 6 4. Gahanna: 7 5. Gahanna Jefferson CSD: 8 6. Pickerington: 8 7. Pickerington LSD: 8 8. Granville CSD: 9 9. Newark CSD: 9 10. Powell: 9 11. Reynoldsburg CSD: 9 12. Buckeye Valley LSD: 10 13. Dublin: 10 14. Hilliard: 10 15. Hilliard CSD: 10 16. Marysville CSD: 10 17. Westerville CSD: 10 18. Canal Winchester CSD: 11 19. German Village: 11 20. Johnstown-Monroe LSD: 11 21. Northridge LSD: 11 22. Sunbury: 11 23. Westerville: 11 24. Worthington CSD: 11 25. Circleville CSD: 12 26. Delaware CSD: 12 27. Grandview Heights: 12 28. Groveport Madison LSD: 12 29. Worthington: 12 30. Columbus: 13 31. Dublin CSD: 13 32. South Western CSD: 13 33. Hamilton LSD: 14 34. Lancaster CSD: 14 35. Whitehall: 14
Top 10 Slowest-Selling Locations by # of Days Homes Remain on the Market Before Sale in August 2022 1. Downtown: 47 2. Obetz: 33 3. Teays Valley LSD: 32 4. Miami Trace LSD: 28 5. Short North: 26 6. Minerva Park: 22 7. Pataskala: 22 8. Big Walnut LSD: 20 9. New Albany: 20 10. New Albany Plain LSD: 19 11. Upper Arlington CSD: 18 12. Olentangy LSD: 17
Top 10 Locations with the Greatest % Decline of # of Days on the Market Before Sale August 2022 vs. August 2021 1. Valleyview: -69.2% 2. Powell: -52.6% 3. Sunbury: -50.0% 4. Grandview Heights: -45.5% 5. German Village: -35.3% 6. Downtown: -29.9% 7. Gahanna Jefferson CSD: -27.3% 8. New Albany: -25.9% 9. Bexley: -20.0% 10. Short North: -7.1%
Top 10 Locations with the Lowest % Decline of # of Days on the Market Before Sale August 2022 vs. August 2021 1. Teays Valley LSD: +300.0% 2. Miami Trace LSD: +211.1% 3. Delaware CSD: +200.0% 4. Groveport Madison LSD: +200.0% 5. Whitehall: +180.0% 6. Minerva Park: +175.0% 7. Pataskala: +175.0% 8. Northridge LSD: +120.0% 9. Obetz: +120.0% 10. Lithopolis: +100.0% 11. Pickerington: +80.0% 12. London CSD: +77.8% 13. Circleville CSD: +71.4%
