The 2024 housing market in Columbus was largely one that continued trends of the past several years- generally increasing prices, a shortage of inventory and a quick sales turnaround.
We’ll start this look back by reviewing how the overall metro area and individual county housing markets performed. Total 2024 Home Sales in the Metro Area: 24526
2024 Home Sales % Change in the Metro Area: +3.07%
2024 Metro Area Median Sales Price: $335,555
2024 Metro Area Median Sales Price % Change: +5.34%
Both home sales and median sales prices were up in the overall metro area.
Now let’s look at individual sub-markets within the metro.
First, overall sales.
Next up, here is the median sales price data.
And finally, here are the charts for the fastest and slowest-selling markets in 2024.
If you don’t see data for the market you are looking for, vist the Housing Reports page of the Columbus Realtors site.
The Housing Market Update January 2023 data, the first of the new year, from Columbus Realtors showed that home sales and overall supply continued to decline, helping to ensure most areas saw continued increases in median prices.
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. 7 of the 10 metro counties saw declines in January Only 9 of more than 40 local markets were up year-over-year. Not sure what was going on in Union County in January, but it was well above all other counties for the month. The market overall continued to be up on price year-over-year, except in Pickaway County. Overall Market Median Sales Price in January 2023: $307,289 Based on the 10 Columbus Metro Area counties, the metro price saw a more than $39,000 increase over January, 2022. Overall Market Median Sales Price % Change in January, 2023 vs. January, 2022: +14.6% Continuing home sale declines had relatively little impact on home prices overall, which saw a strong increase over the year. It seems the Intel project’s impact may finally be making an appearance in housing numbers, with the Johnstown district seeing a huge increase in median home prices versus January 2022, 2 months before the project became official. That said, New Albany had one of the areas largest declines, but that could be due to it generally being one of the most expensive markets last year. New listings across most of the metro area were down, accounting for most of the median price increase as demand remains strong in the region. Most of the decrease came from Franklin County. Total Metro New Listings in January, 2023: 1,612 Total Metro New Listings Change from January, 2022 to January, 2023: -316 Average # of Days Homes Remain on the Market Before Sale for the Metro Overall in January, 2023: 34.0 # of Days Homes Remain on the Market Before Sale for the Metro January, 2022 to January, 2023: +8.8 Homes continued to sell more slowly than they did a year ago, now more than a week more slowly on average.
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 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.
In this latest edition of the Housing Market Update May 2022, we see that home prices continue to reach record levels in the metro area, and houses are selling faster than ever. With rising mortgage interest rates, will the region eventually see a slowdown?
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 May 2022 1. New Albany: $789,900 2. New Albany Plain LSD: $650,000 3. Big Walnut LSD: $572,127 4. Powell: $565,000 5. Upper Arlington CSD: $558,000 6. Dublin: $555,000 7. Grandview Heights: $545,000 8. Granville CSD: $530,000 9. Dublin CSD: $515,000 10. Olentangy LSD: $505,000 11. Buckeye Valley LSD: $495,000 12. Worthington: $481,000 13. German Village: $475,000 14. Bexley: $470,000 15. Pickerington: $444,000 16. Canal Winchester CSD: $430,000 Several suburbs now have median prices at or above half a million dollars, with several others not too far behind.
Top 15 Least Expensive Locations by Median Sales Price in May 2022 1. Lancaster CSD: $175,000 2. Miami Trace LSD: $180,000 3. Newark CSD: $184,000 4. Circleville CSD: $187,500 5. Whitehall CSD: $205,000 6. Jefferson LSD: $220,000 7. London CSD: $227,450 8. Groveport Madison LSD: $243,000 9. Hamilton LSD: $256,700 10. Obetz: $256,700 11. Columbus CSD: $257,500 12. Columbus: $277,750 13. Reynoldsburg CSD: $280,500 14. Minerva Park: $291,500 15. South Western CSD: $295,450 On the opposite side of things, even some of the cheapest markets are approaching the $300K mark. Columbus itself remains *relatively* affordable in comparison to the market overall.
Overall Market Median Sales Price in May: $303,460 Based on the 10 Columbus Metro Area counties.
Top 15 Locations with the Highest Median Sales Price % Growth Between May 2021 and May 2022 1. Canal Winchester CSD: +65.4% 2. Big Walnut LSD: +50.4% 3. Whitehall: +48.6% 4. Northridge LSD: +42.6% 5. Groveport Madison LSD: +39.0% 6. Grandview Heights: +38.3% 7. Granville CSD: +31.7% 8. Gahanna: +27.6% 9. Teays Valley LSD: +26.4% 10. Pataskala: +26.3% 11. Pickerington: +25.1% 12. Downtown: +24.3% 13. Johnstown-Monroe LSD: +23.5% 14. Powell: +22.8% 15. Sunbury: +22.5%
Top 15 Locations with the Lowest Median Sales Price % Growth Between May 2021 and May 2022 1. German Village: -24.6% 2. Miami Trace LSD: -19.3% 3. Obetz: -14.0% 4. Bexley: -5.5% 5. Delaware CSD: -4.7% 6. New Albany: -2.5% 7. Minerva Park: -2.2% 8. Lancaster CSD: -0.6% 9. Newark CSD: -0.1% 10. Jonathan Alder LSD: 0.0% 11. Short North: 0.5% 12. London CSD: +1.1% 13. Westerville: +2.4% 14. Circleville CSD: +3.0% 15. Beechwold/Clintonville: +3.5% So far, the “Intel Effect” has yet to kick in in places like Newark and some Northeast Side communities. Only Johnstown is seeing a significant price increase. This may have to do with some of these places already being overvalued, especially New Albany.
Overall Market Median Sales Price % Change May 2022 vs. May 2021:+14.5% Based on 53 metro market locations.
Top 10 Locations with the Most New Listings in May 2022 1. Columbus: 1,337 2. Columbus CSD: 898 3. Olentangy LSD: 214 4. South Western CSD: 210 5. Hilliard CSD: 162 6. Dublin CSD: 146 7. Westerville CSD: 139 8. Worthington CSD: 94 9. Dublin: 90 10. Lancaster CSD: 88
Top 10 Locations with the Fewest New Listings in May 2022 1. Valleyview: 0 2. Lithopolis: 2 3. Minerva Park: 5 4. Obetz: 6 5. Jefferson LSD: 12 6. Northridge LSD: 14 7. Johnstown-Monroe LSD: 15 8. Miami Trace LSD: 18 9. Sunbury: 20 10. Granville CSD: 20 11. German Village: 21
Total New Listings in the Columbus Metro in May 2022:+3,362 Overall Metro New Listings % Change May 2022 vs May 2021:-3.1% New listings fell in May year-over-year even though the late spring is often a time when more homes go onto the market. Franklin County had one of the largest declines in inventory, dropping about 6.9%.
Top 10 Fastest-Selling Locations by # of Days Homes Remain on the Market Before Sale in May 2022 1. Grandview Heights: 3 2. Canal Winchester CSD: 4 3. Hilliard: 4 4. Miami Trace LSD: 4 5. Minerva Park: 4 6. Westerville: 4 7. Westerville CSD: 4 8. German Village: 5 9. Hilliard CSD: 5 10. Marsyville CSD: 5 11. Powell: 5 12. Reynoldsburg CSD: 5 13. Sunbury: 5 14. Worthington: 5 15. Worthington CSD: 5 16. Bexley: 6 17. Dublin: 6 18. Groveport Madison LSD: 6 19. Jefferson LSD: 6 20. Pickerington: 6 21. Hamilton LSD: 7 22. Lancaster CSD: 7 23. Newark CSD: 7 24. Pickerington LSD: 7 25. Upper Arlington CSD: 7 26. Whitehall: 7 27. Beechwold/Clintonville: 8 28. Gahanna: 8 29. Delaware CSD: 9 30. South Western CSD: 9 31. Blacklick: 10 32. Columbus: 10 33. Johnstown-Monroe LSD: 10 34. Gahanna Jefferson LSD: 12 35. Dublin CSD: 13 36. Grove City: 13
The “Top 10” became the Top 36 just given that most of the local markets are selling so similarly quickly. There is relatively little spread between the fastest and slowest-selling markets, with some obvious exceptions.
Top 10 Slowest-Selling Locations by # of Days Homes Remain on the Market Before Sale in May 2022 1. Northridge LSD: 84 2. Downtown: 75 3. New Albany: 29 4. Buckeye Valley LSD: 28 5. Granville CSD: 27 6. Teays Valley LSD: 27 7. London CSD: 26 8. Short North: 25 9. Jonathan Alder LSD: 22 10. Big Walnut LSD: 20 11. New Albany LSD: 19 12. Obetz: 19 13. Pataskala: 19
Top 10 Locations with the Greatest % Decline of # of Days on the Market Before Sale May 2022 vs. May 2021 1. Bexley: -76.0% 2. Jefferson LSD: -73.9% 3. Lancaster CSD: -72.0% 4. Dublin: -68.4% 5. Johnstown-Monroe LSD: -64.3% 6. Grandview Heights: -62.5% 7. Reynoldsburg CSD: -58.3% 8. Short North: -51.0% 9. Hamilton LSD: -50.0% 10. Hilliard: -50.0% 11. Westerville: -50.0% 12. Hilliard CSD: -44.4%
Top 10 Locations with the Lowest % Decline of # of Days on the Market Before Sale May 2022 vs. May 2021 1. Northridge LSD: +1,300.0% 2. Jonathan Alder LSD: +633.3% 3. Valleyview: +400.0% 4. London CSD: +188.9% 5. New Albany: +141.7% 6. New Albany LSD: +111.1% 7. Downtown: +92.3% 8. Granville CSD: +80.0% 9. Circleville CSD: +77.8% 10. Teays Valley LSD: +68.8%
% Change for the # of Days Homes Remain on the Market Before Sale Across the Metro Overall: 15.6 Overall Metro Days on Market % Change May 2022 vs May 2021: -1.3%
Columbus Realtors offers monthly housing reports and other data back several years.
