2022 Final Housing Market Update

Posted on February 1, 2023 by admin

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!

Strange Columbus The 1955 OSU Explosion

Posted on January 5, 2023 by admin

In this short installment of Strange Columbus, we talk about the 1955 OSU Explosion that occurred early on the morning of Thursday, January 6th. The event happened at the War Research Building on Ohio State’s main campus. Half a pound of pyridine exploded during an experiment, though there were no injuries as the lab was unoccupied at the time of the explosion.
The blast shattered four windows on the 2nd floor of the building, and generally caused a mess in the lab itself. However, because no fire occurred during the event, damage was described as light. Several pieces of lab equipment were sent to the Columbus Fire Department to be checked out for further danger, but the event was labeled a freak accident. It went unmentioned in the local news as to the nature of the experiment and why explosive materials were being used.
The exact building this occurred in seems unclear, as old articles do not mention the location.
Unfortunately, this event would be far from the last in terms of university lab accidents.

Columbus has far less explosive history to discover.

Housing Market Update November 2022

Posted on December 19, 2022 by admin

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.

Housing Market Update October 2022

Posted on November 24, 2022 by admin

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.

Before and After Views from Franklinton

Posted on November 23, 2022 by admin

These before and after views from Franklinton show a snapshot in time of just how unattractive and people-unfriendly the riverfront once was.

Before: 1923

This view looks east from the Franklinton side of the Scioto River. At the time, Central High School was under construction, which is why the area looks like such a mess of materials. Central High School would be completed in 1924 and open on September 4th of that year. The school would remain open for 60 years before being shut down in the mid-1980s. The building sat empty for more than a decade before being renovated into the new COSI.
Beyond the river, a much shorter Downtown skyline can be seen. The image predates LeVeque Tower and most of the government buildings that now line the Scioto’s shores.

After: 2020

The riverfront looks much different today. With the Scioto Greenways and park space added in more recent years, the view is much more pleasant, the bathroom not included.

Before: 1926

In an image taken just 3 years after the one above, the Franklinton side of the riverfront looks much better. Additionally, LeVeque Tower is now well under construction.
After: 2021

In the modern view, the parking and cars have been replaced with parklands and public space, while LeVeque has become the city’s most iconic skyline addition.

If you enjoy this series, the Historic Building Database page offers thousands of before and after photos of historic buildings and places in and around Columbus.

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Category Archives: Columbus Neighborhoods

2022 Final Housing Market Update

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Strange Columbus The 1955 OSU Explosion

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Housing Market Update November 2022

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Housing Market Update October 2022

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Before and After Views from Franklinton

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