2022 Final Housing Market Update




2022 final housing market update Columbus, Ohio

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.

2022 final housing market update county closed sales
2022 final housing market update county closed sales change
Closed sales are those sales that were completed during the year. 7 of the 10 metro counties saw declines vs. 2021.
2020 final housing market update best markets for closed sales
2022 final housing market update worst markets for closed sales

2022 final housing market update county median price
2022 final housing market update county median price change
2022 final housing market update county median price % change

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%

2022 final housing market update least expensive markets
2022 final housing market update most expensive markets

2022 final housing market update best market median price change
2022 final housing market update worst markets for price change
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.

2022 final housing market update county new listings
2022 final housing market update county new listings change
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.

2022 final housing market update most new listings
2022 final housing market update fewest new listings

2022 final housing market update county days before sale
2022 final housing market update county days before sale change
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%

2022 final housing market update fastest selling markets
2022 final housing market update slowest selling markets

2022 final housing market update fastest selling market change
2022 final housing market update slowest selling market change

2022 final housing market update highest price received
2022 final housing market update lowest list price received
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!



Cool Link: Housing Affordability Comparison




In today’s cool link edition, we have a new study by the site Demographia that offers a housing affordability comparison for more than 90 markets across 8 different countries/places around the world. What is different about this study is that the comparison is done including a housing cost to income ratio, meaning that it takes into account local incomes versus housing prices. That makes it much more accurate in terms of an overall market comparison.

Demographia International Housing Affordability

Columbus ranks fairly well, overall, along with Ohio’s other 2 main markets in Cincinnati and Cleveland. Despite all the local complaints about housing becoming unaffordable, relative to just about everywhere else in the US, Ohio markets are actually inexpensive. That doesn’t mean that housing costs aren’t rising quickly or that more and more people aren’t being priced out of buying and owning a home, because that’s definitely happening and certainly an increasing problem. It just means that the problem isn’t quite as bad locally as it is in most other places.