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.
The local housing market update March 2022 has been release by Columbus Realtors. Here are the numbers!
Note: LSD= Local School District, CSD= City School District. In both cases, school district boundaries differ from city boundaries.
Top 15 Most Expensive Locations By Median Sales Price in March 2022 1. New Albany: $682,500 2. German Village: $667,500 3. Powell: $638,000 4. New Albany Plain LSD: $535,000 5. Grandview Heights: $535,000 6. Upper Arlington CSD: $525,000 7. Big Walnut LSD: $520,000 8. Olentangy LSD: $500,000 9. Dublin: $481,000 10. Short North: $480,000 11. Granville CSD: $460,000 12. Dublin CSD: $430,000 13. Jonathan Alder LSD: $413,500 14. Bexley: $410,000 15. Pickerington: $408,000 16. Worthington: $408,000
Top 15 Least Expensive Locations by Median Sales Price in March 2022 1. Whitehall: $160,250 2. Circleville CSD: $162,500 3. Newark CSD: $180,000 4. Lancaster CSD: $180,000 5. Hamilton LSD: $185,000 6. Obetz: $209,000 7. Miami Trace: $214,000 8. Columbus CSD: $234,000 9. Groveport Madison LSD: $237,500 10. Jefferson LSD: $240,950 11. Columbus: $248,000 12. London CSD: $250,000 13. South-Western CSD: $260,000 14. Blacklick: $270,000 15. Reynoldsburg CSD: $286,250
Overall Market Median Sales Price in March: $279,265 Based on the 10 Columbus Metro Area counties.
Top 15 Locations with the Highest Median Sales Price % Growth Between March 2021 and March 2022 1. Johnstown-Monroe LSD: +60.0% 2. Miami Trace LSD: +40.9% 3. German Village: +40.4% 4. Reynoldsburg CSD: +39.5% 5. Teays Valley LSD: +36.9% 6. Big Walnut LSD: +35.1% 7. Jefferson LSD: +30.2% 8. Jonathan Alder LSD: +29.2% 9. Pataskala: +28.6% 10. Northridge LSD: +28.5% 11. Groveport Madison LSD: +28.4% 12. Canal Winchester CSD: +25.6% 13. Hilliard CSD: +24.7% 14. Delaware CSD: +24.3% 15. Newark CSD: +23.3%
Top 15 Locations with the Lowest Median Sales Price % Growth Between March 2021 and March 2022 1. Circleville CSD: -22.6% 2. Lithopolis: -15.6% 3. Obetz: -8.1% 4. Buckeye Valley LSD: -3.0% 5. Bexley: -0.7% 6. London CSD: -0.4% 7. New Albany Plain LSD: +2.2% 8. Dublin CSD: +2.6% 9. Blacklick: +2.7% 10. Dublin: +4.1% 11. Grove City: +4.4% 12. New Albany: +4.7% 13. Sunbury: +5.5% 14. Worthington CSD: +9.7% 15. Westerville: +10.1%
Curiously, New Albany has not yet seen significant housing cost increases despite the news of the Intel development announced a few months ago, but that may just be due to the fact that housing prices there exceed all other markets by a good margin already.
Overall Market Median Sales Price % Change March 2022 vs. March 2021:+19.6% Based on 52 metro market locations.
Top 10 Locations with the Most New Listings in March 2022 1. Columbus: 1,161 2. Columbus CSD: 773 3. South Western CSD: 205 4. Olentangy LSD: 151 5. Westerville CSD: 144 6. Hilliard CSD: 121 7. Dublin CSD: 113 8. Pickerington LSD: 94 9. Worthington CSD: 85 10. Grove City: 84
Top 10 Locations with the Fewest New Listings in March 2022 1. Valleyview: 1 2. Minerva Park: 1 3. Lithopolis: 3 4. Sunbury: 10 5. Northridge LSD: 10 6. Obetz: 12 7. Johnstown Monroe LSD: 12 8. German Village: 13 9. Powell: 13 10. Jefferson LSD: 14 11. Whitehall: 14
Total New Listings in the Columbus Metro in March 2022:+2,901 Overall Metro New Listings % Change March 2022 vs March 2021:+3.7%
New listings did increase in March versus a year ago, but only slightly. Listings tend to increase as the weather warms up.
Top 10 Fastest-Selling Locations by # of Days Homes Remain on the Market Before Sale in March 2022 1. Lithopolis: 2 2. Miami Trace LSD: 3 3. Minerva Park: 3 4. Pickerington: 4 5. German Village: 5 6. Westerville: 5 7. Worthington: 5 8. Worthington CSD: 5 9. Dublin: 7 10. Gahanna: 7 11. Groveport Madison LSD: 7 12. New Albany: 7
Top 10 Slowest-Selling Locations by # of Days Homes Remain on the Market Before Sale in March 2022 1. Northridge LSD: 78 2. Downtown: 60 3. Granville CSD: 52 4. Short North: 51 5. Grandview Heights: 38 6. Oberz: 27 7. Circleville CSD: 25 8. Delaware CSD: 22 9. Hamilton LSD: 22 10. Johnstown Monroe LSD: 22
Top 10 Locations with the Greatest % Decline of # of Days on the Market Before Sale March 2022 vs. March 2021 1. Lithopolis: -96.6% 2. Miami Trace LSD: -85.7% 3. Pickerington: -84.6% 4. Dublin: -81.1% 5. Worthington CSD: -76.2% 6. Big Walnut LSD: -75.5% 7. Worthington: -72.2% 8. German Village: -70.6% 9. Westerville: -68.8% 10. Powell: -67.3%
Top 10 Locations with the Lowest % Decline of # of Days on the Market Before Sale March 2022 vs. March 2021 1. Canal Winchester CSD: +466.7% 2. Johnstown Monroe LSD: +450.0% 3. Northridge LSD: +254.5% 4. Granville CSD: +126.1% 5. Hilliard: +100.0% 6. Hamilton LSD: +69.2% 7. Obetz: +50.0% 8. Whitehall: +44.4% 9. London CSD: +30.0% 10. Grove City: +28.6% 11. Teays Valley LSD: +28.6%
% Change for the # of Days Homes Remain on the Market Before Sale Across the Metro Overall: 20.4 Overall Metro Days on Market % Change March 2022 vs March 2021: -12.1%
