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Housing Market Update March 2021

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housing market update March 2021 Columbus, Ohio

The popular monthly series continues with the local housing market update March 2021 report. Let’s drill down into the results.

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 2021
1. New Albany: $652,000
2. New Albany Plain LSD: $523,500
3. Powell: $519,000
4. Upper Arlington CSD: $476,600
5. German Village: $475,550
6. Grandview Heights: $474,000
7. Dublin: $462,000
8. Olentangy LSD: $443,685
9. Buckeye Valley LSD: $420,000
10. Dublin CSD: $419,000
11. Bexley: $413,000
12. Short North: $399,900
13. Granville LSD: $388,500
14. Big Walnut LSD: $384,900
15. Worthington: $358,000

New Albany continued to dominate the top of the market in terms of median sales price, and it wasn’t even close.

Top 15 Least Expensive Locations by Median Sales Price in March 2021
1. Whitehall: $140,100
2. Newark CSD: $146,000
3. Lancaster CSD: $160,500
4. Hamilton LSD: $166,000
5. Groveport Madison LSD: $185,000
6. Jefferson LSD: $185,000
7. Reynoldsburg CSD: $205,250
8. Columbus CSD: $209,718
9. Circleville CSD: $210,000
10. Columbus: $217,000
11. Obetz: $227,420
12. South-Western CSD: $230,000
13. Johnstown-Monroe LSD: $230,000
14. London CSD: $251,000
15. Teays Valley LSD: $253,092

Whitehall remains the area’s biggest bargain. This inner suburb hasn’t always had the best reputation, but the city has been making efforts to improve both its commercial corridors and residential options. Columbus is relatively cheap compared to most of the metro, yet has by far the largest variety of options and neighborhood types to choose from.

Overall Market Median Sales Price in March 2021: $242,550
The overall market is defined by Columbus Metro Area counties.

Top 15 Locations with the Highest Median Sales Price % Growth Between March 2020 and March 2021
1. London CSD: +52.2%
2. Circleville CSD: +44.3%
3. New Albany Plain LSD: +32.5%
4. German Village: +29.4%
5. Obetz: +26.4%
6. Gahanna Jefferson CSD: +26.0%
7. Grandview Heights: +25.4%
8. Powell: +23.9%
9. Upper Arlington CSD: +23.8%
10. Lancaster CSD: +23.7%
11. Jonathan Alder LSD: +23.6%
12. Grove City: +22.0%
13. Gahanna: +21.9%
14. Teays Valley: +21.5%
15. Pickerington LSD: +20.8%
16. Pickerington: +20.8%

Top 15 Locations with the Lowest Median Sales Price % Growth Between March 2020 and March 2021
1. Johnstown Monroe LSD: -25.0%
2. Downtown Columbus: -14.5%
3. Granville LSD: -13.2%
4. Big Walnut LSD: -10.5%
5. Short North: -10.0%
6. Bexley: -6.1%
7. Minerva Park: -5.4%
8. Worthington: -5.0%
9. Hamilton LSD: -3.8%
10. Hilliard: +0.8%
11. New Albany: +1.7%
12. Newark CSD: +4.3%
13. Dublin CSD: +4.6%
14. Hilliard CSD: +5.5%
15. Dublin: +7.5%

Urban areas and some inner suburbs had either the biggest price declines or smallest increases in March vs. March 2020 as the fallout continued from Covid and protest-related activities. These declines may be seen by potential buyers as a positive from the high prices that otherwise continue, however.

Overall Market Median Sales Price % Change March 2021 vs. March 2020: +16.3%

Top 10 Locations with the Most New Listings in March 2021
1. Columbus: 1,156
2. Columbus CSD: 811
3. South-Western CSD: 187
4. Olentangy LSD: 161
5. Hilliard CSD: 138
6. Westerville CSD: 125
7. Dublin CSD: 125
8. Gahanna Jefferson CSD: 78
9. Dublin: 77
10. Upper Arlington CSD: 76

To no surprise, Columbus remains strongly at the top. There were about 300 more new listings in Columbus in March than in February as warmer weather prompted more sellers to put their homes on the market.

Top 10 Locations with the Fewest New Listings in March 2021
1. Valleyview: 0
2. Lithopolis: 2
3. Minerva Park: 2
4. Jefferson LSD: 8
5. Jonathan Alder: LSD: 11
6. Sunbury: 12
7. Grandview Heights: 12
8. Obetz: 12
9. Whitehall: 12
10. German Village: 13

Total New Listings in the Columbus Metro in March 2021: 2,797
Overall Metro New Listings % Change March 2021 vs March 2020: +3.3%
The small increase overall was pushed by big increases smaller counties like Perry, Pickaway and Union.



Top 10 Fastest-Selling Locations by # of Days Homes Remain on the Market Before Sale in March 2021
1. Canal Winchester CSD: 3
2. Johnstown-Monroe LSD: 4
3. Minerva Park: 6
4. Hilliard: 7
5. Jefferson LSD: 7
6. Gahanna: 8
7. Groveport Madison LSD: 8
8. Whitehall: 9
9. London CSD: 10
10. Jonathan Alder LSD: 11
11. Marysville CSD: 11
12. South-Western CSD: 11

Top 10 Slowest-Selling Locations by # of Days Homes Remain on the Market Before Sale in March 2021
1. Lithopolis: 59
2. Powell: 55
3. Downtown Columbus: 54
4. Short North: 52
5. Big Walnut LSD: 49
6. Lancaster CSD: 39
7. Olentangy LSD: 38
8. Dublin: 37
9. Grandview Heights: 36
10. Buckeye Valley LSD: 34

Top 10 Locations with the Greatest % Decline of # of Days on the Market Before Sale March 2021 vs March 2020
1. Johnstown-Monroe LSD: -92.7%
2. Canal Winchester CSD: -92.5%
3. Minerva Park: -90.2%
4. Jefferson LSD: -89.9%
5. Sunbury: -85.0%
6. Jonathan Alder LSD: -83.8%
7. New Albany: -81.9%
8. New Albany Plain LSD: -75.5%
9. Marysville CSD: -71.8%
10. Whitehall: -71.0%

Top 10 Locations with the Lowest % Decline of # of Days on the Market Before Sale March 2021 vs March 2020
1. Worthington CSD: +50.0%
2. Worthington: +38.5%
3. Powell: +12.2%
4. Lancaster CSD: +2.6%
5. Hilliard CSD: -4.3%
6. Obetz: -5.3%
7. Short North: -10.3%
8. Newark CSD: -14.3%
9. Downtown Columbus: -23.9%
10. Pataskala: -26.1%

% Change for the # of Days Homes Remain on the Market Before Sale Across the Metro Overall:
-24.5%

The market remained hot in March, with faster sales and higher prices than in the previous. Inventory did inch up some as spring arrived, but not nearly enough to counter overall demand. Urban areas are still a bit off their peaks from pre-Covid and protests, but seem to have recovered slightly from some previous months.

The previous housing market report and the Columbus Realtors site offers additional information on the Columbus market.



Is North Linden the Best Neighborhood for a Starter Home?

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Is North Linden the best neighborhood for a starter home in Columbus? For many local residents, when they hear “Linden”, they may only think of negatives such as crime and neighborhood condition. Like many other parts of urban Columbus, the area is changing as development forces and population growth have begun pushing in from all sides, however.

With the Columbus market on fire, supply low and prices skyrocketing due to heavy demand, Linden homes are being looked at with a new perspective. Linden homes are some of the most affordable anywhere in Columbus, and while the neighborhood can be hit or miss to say the least, North Linden has begun to emerge as a destination for first-time home buyers.

Although the southern part of Linden was constructed before WWII, the vast majority of the remaining area was built in the 1950s and 1960s as former soldiers looked to start new lives.
Because of the era in which many of the homes were built, most are single-story ranches or Cape Cod style cottages. The square footage of many of these homes tends to be around 1000 square feet or less. Until recently, the small relative size, among other issues, kept buyers away. The aforementioned tight real-estate market has given these homes potential new life.

North Linden is generally the part of the neighborhood that is to the between I-71 and Cleveland Avenue west to east and between Hudson Avenue and Cooke Road south to north. Let’s take a look at some of the homes currently on the market in this area to get a feel for what is available there.

1541 Genessee Avenue: $25,000
Square Footage: 1,056
This pre-WWII home is an example of many in the area that need some level of renovations- in this home’s case- major renovations. For those willing to take on a challenge, these types of inexpensive purchases could be a consideration.
Best neighborhood for a starter home 1541 Gennessee Avenue

1130 Pauline Avenue: $185,000
Square Footage: 1,412
Built in 1955, this home is much more typical of the housing stock that exists within the neighborhood, but on the larger side. Unlike the home above, this one has been fully renovated and shows the potential of what they can become. This type of home represents the top of the market in terms of price in the neighborhood, showing just how affordable the area really is.
https://www.realtor.com/realestateandhomes-detail/1130-Pauline-Ave_Columbus_OH_43224_M37110-45745


2587 Azelda Street: $119,900
Square Footage: 1,045
This 1956 home is typical of many in the area. It doesn’t necessarily have a brand new renovation, but has been kept updated and maintained over the years, so it is in great condition for an individual or small family.
https://www.realtor.com/realestateandhomes-detail/2587-Azelda-St_Columbus_OH_43211_M49757-14142


Beyond the less expensive prices and variety of quality fixer-uppers and renovated starter homes, North Linden is also well-situated near popular areas such as Easton, Clintonville, OSU Campus and the Morse corridor, which is rich in locally-owned restaurants and markets that specialize in foods and products from Asia, Africa and the Middle East.
While there are many positives, some negatives might be higher crime in some spots- particularly closer to Cleveland Avenue- lack of walkability to amenities, and lower ranked schools within the Columbus district. As with any neighborhood, prospective residents must weigh the pros and cons according to their own lifestyles and needs. If one is a current Columbus resident looking to downsize, or a new family to Columbus looking to purchase their first home in an extremely difficult market to break into, North Linden does offer some opportunities that other neighborhoods do not.

The North Linden Area Commission and the
Linden Neighborhood links provide additional news and information on this up and coming area of Columbus.