Tag Archives: Ohio housing

Housing Market Update April 2022

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housing market update April 2022 Columbus, Ohio

All data for the Housing Market Update comes from Columbus Realtors.

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 April 2022
1. New Albany: $650,000
2. New Albany Plain LSD: $635,000
3. Powell: $605,663
4. Grandview Heights: $585,000
5. Upper Arlington CSD: $580,000
6. Granville CSD: $566,500
7. German Village: $565,000
8. Bexley: $562,000
9. Dublin: $547,500
10. Olentangy LSD: $508,900
11. Worthington: $507,500
12. Dublin CSD: $480,000
13. Big Walnut LSD: $463,178
14. Hilliard: $450,000
15. Sunbury: $427,500

Top 15 Least Expensive Locations by Median Sales Price in April 2022
1. Newark CSD: $175,000
2. Whitehall: $190,000
3. Lancaster CSD: $190,000
4. Circleville CSD: $200,000
5. Miami Trace LSD: $210,000
6. Hamilton LSD: $214,500
7. Obetz: $220,000
8. London CSD: $244,750
9. Columbus CSD: $247,000
10. Groveport Madison LSD: $253,500
11. Columbus: $263,000
12. South Western CSD: $275,000
13. Jefferson LSD: $285,000
14. Reynoldsburg CSD: $299,850
15. Gahanna: $310,000
Even the cheapest markets are mostly above $200K now.

Overall Market Median Sales Price in April: $300,875
Based on the 10 Columbus Metro Area counties. This price was slightly lower than in May.

Top 15 Locations with the Highest Median Sales Price % Growth Between April 2021 and April 2022
1. Minerva Park: +59.6%
2. Lithoplis: +44.1%
3. Jefferson LSD: +43.9%
4. Miami Trace LSD: +40.0%
5. Pataskala: +39.6%
6. Granville CSD: +38.2%
7. Sunbury: +37.7%
8. Canal Winchester CSD: +36.7%
9. New Albany Plain LSD: +35.3%
10. Grove City: +30.4%
11. Groveport Madison LSD: +29.3%
12. Worthington CSD: +27.8%
13. Reynoldsburg CSD: +26.0%
14. Newark CSD: +25.0%
15. Upper Arlington CSD: +24.7%

Top 15 Locations with the Lowest Median Sales Price % Growth Between April 2021 and April 2022
1. Jonathan Alder LSD: -21.6%
2. Short North: -18.6%
3. Buckeye Valley LSD: -17.6%
4. Lancaster CSD: -5.0%
5. New Albany: -4.1%
6. Obetz: -2.3%
7. German Village: -0.9%
8. Beechwold/Clintonville: +4.3%
9. Dublin: +6.5%
10. Bexley: +6.5%
11. Dublin CSD: +9.8%
12. Hamilton LSD: +9.9%
13. Westerville: +11.9%
14. Columbus CSD: +13.8%
15. Olentangy LSD: +14.0%
16. Columbus: +15.1%
Columbus core neighborhoods and Columbus overall saw some of the smallest or even negative price changes.

Overall Market Median Sales Price % Change April 2022 vs. April 2021: +19.8%

Top 10 Locations with the Most New Listings in April 2022
1. Columbus: 1,260
2. Columbus CSD: 856
3. South Western CSD: 223
4. Olentangy LSD: 170
5. Westerville CSD: 161
6. Hilliard CSD: 136
7. Dublin CSD: 131
8. Pickerington LSD: 99
9. Grove City: 93
10. Worthington CSD: 91

Top 10 Locations with the Fewest New Listings in April 2022
1. Valleyview: 1
2. Lithopolis: 3
3. Jefferson LSD: 5
4. Minerva Park: 6
5. Grandview Heights: 7
6. Northridge LSD: 8
7. Obetz: 10
8. German Village: 10
9. Sunbury: 11
10. Jonathan Alder LSD: 12
11. Hamilton LSD: 15
12. Granville CSD: 15

Total New Listings in the Columbus Metro in April 2022: +3,194
Overall Metro New Listings % Change April 2022 vs April 2021: -1.7%



Top 10 Fastest-Selling Locations by # of Days Homes Remain on the Market Before Sale in April 2022
1. Gahanna: 3
2. Jefferson LSD: 3
3. Minerva Park: 3
4. Worthington: 3
5. Blacklick: 4
6. Canal Winchester CSD: 4
7. Gahanna Jefferson CSD: 4
8. Jonathan Alder LSD: 4
9. Obetz: 4
10. Big Walnut LSD: 5
11. Hilliard CSD: 5
12. Powell: 5
13. Sunbury: 5
14. Dublin: 6
15. Hilliard: 6
16. Lithopolis: 6
17. Reynoldsburg CSD: 6
18. Whitehall: 6
19. Worthington CSD: 6
20. Hamilton LSD: 7
21. Miami Trace LSD: 7
22. Westerville: 7
23. Dublin CSD: 8
24. Groveport Madison LSD: 8
25. Upper Arlington CSD: 8
26. Beechwold/Clintonville: 9
27. Westerville CSD: 9
28. Granville CSD: 10
29. Marysville CSD: 10
30. Pickerington LSD: 10
31. Bexley: 11
32. Columbus: 11
33. Delaware CSD: 11
34. German Village: 11
35. Johnstown-Monroe LSD: 11
36. Lancaster CSD: 11
37. Newark CSD: 11
38. Olentangy LSD: 11
39. Pickerington: 11
40. Circleville CSD: 13
41. Grandview Heights: 13

Top 10 Slowest-Selling Locations by # of Days Homes Remain on the Market Before Sale in April 2022
1. Northridge LSD: 58
2. Downtown: 40
3. Short North: 31
4. London CSD: 24
5. Buckeye Valley LSD: 23
6. Grove City: 22
7. Pataskala: 21
8. New Albany: 20
9. Teays Valley LSD: 15
10. Columbus CSD: 14
11. New Albany Plain LSD: 14
12. South Western CSD: 14

Top 10 Locations with the Greatest % Decline of # of Days on the Market Before Sale April 2022 vs. April 2021
1. Miami Trace LSD: -86.3%
2. Gahanna: -76.9%
3. Gahanna Jefferson CSD: -75.0%
4. Granville CSD: -74.4%
5. Blacklick: -71.4%
6. German Village: -71.1%
7. New Albany Plain LSD: -64.1%
8. Obetz: -63.6%
9. New Albany: -59.2%
10. Upper Arlington CSD: -55.6%

Top 10 Locations with the Lowest % Decline of # of Days on the Market Before Sale April 2022 vs. April 2021
1. Lithopolis: +200.0%
2. Northridge LSD: +176.2%
3. Grove City: +69.2%
4. Sunbury: +66.75
5. Pataskala: +61.5%
6. London CSD: +60.0%
7. South Western CSD: +55.6%
8. Downtown: +48.1%
9. Westerville: +40.0%
10. Delaware CSD: +37.5%
11. Johnstown-Monroe LSD: +37.5%

Total # of Days Homes Remain on the Market Before Sale Across the Metro Overall: 13.7
Overall Metro Days on Market % Change April 2022 vs April 2021: -35.7%
Homes were selling on average almost 8 days after than a year ago.



Columbus Residential Development Booming

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Columbus residential development booming

During and just after the recession’s housing crash, single-family home construction in the Columbus area seemed to fall apart, much like it did across the nation. Foreclosure rates soared, prices fell and builders were suddenly left with too many homes they couldn’t get rid of.

Out of the ashes of this market rose a surge in rental demand. It suddenly made more and more sense to rent rather than to own, especially for young professionals and empty nesters who wanted to downsize during tough economic times. Not only did what housing people wanted change, but so did where they wanted it to be located.

Columbus experienced a relative boom in rental housing during the late 1990s into the first few years of the 2000s, but almost all of that rental housing was constructed along and outside of I-270, where the suburbs were exploding with growth. Inside of 270 saw little of this, and the urban core neighborhoods around Downtown were almost completely ignored altogether. Single-family housing became popular again during the early 2000s mild recession, and the housing boom that would help lead to the Great Recession of 2007-2009 really began at that time. However, it was in 2002 that the City and Mayor Coleman came up with a 10-year plan to help bring more residents to Downtown. It began offering tax incentives to developers who would build there, in some cases 100% abatements, in a goal to have 10,000 residential units built in and around Downtown by 2012.

I’ve done a ton of research on the results of this move by the city, and it did have an impact. From what I’ve been able to find (so far), Downtown and the surrounding neighborhoods saw the addition of less than 200 residential units between 2000 and 2002. 2003 saw over 500 alone with the new incentives package in place. Between 2003 and 2006, the area added over 2,000 new residential units, most of them condos. As the Great Recession hit in 2007, the rate of new projects slowed to half of what it was, though still higher than it was prior to 2003.

As the Great Recession eased and more financing became available, construction began to pick up once more. With the new trends in favor of urban living and rentals, the rental market has exploded and overall Columbus residential development is booming across all parts of the city.