Market Report

Your Real Estate Market Update:

Local Market Information provided by the Columbus Board of Realtors MLS.

Updated April 24, 2025

Here you will find the latest local housing trends that will give you insights, updates and analysis to your local marketplace. If you have any questions about this report or anything else related to real estate, please feel free to reach out to us. We are proud to be a trusted adviser and help you make important business decisions when it comes to real estate.

CLICK THIS LINK TO VIEW YOUR LATEST NEIGHBORHOOD MARKET OR COMPARE TWO MARKETS: marketstatsreports.showingtime.com/CR/sst/2023-06/main.htm

March 2025 Central Ohio Housing Report from Columbus REALTORS®

Homebuyers have more options, as the number of new listings in central Ohio is higher now than this time last year.

COLUMBUS, Ohio (April 24, 2025) — In March, there were 3,198 new listings in the Columbus & Central Ohio Regional MLS, and the median sales price increased to $320,000, reflecting a 3.2% rise compared to the previous year.

“While slightly fewer homes are selling, those that are selling are commanding higher prices,” said Columbus REALTORS® President Buffie Patterson. “As we approach our traditionally busy spring selling season, we encourage all potential buyers to find a REALTOR®, get pre-approved, and narrow their search so they can be ready to act when they find that perfect home.”

Closed sales saw a year-over-year decline. In March 2025, there were 2,108 closed sales, marking a 5% decrease from the 2,218 sales in March 2024. Despite the reduction in closings, the median sales price continued to rise, increasing from $310,000 in 2024 to $320,000 in March 2025. 

In March, the 3,198 new listings represented an 18.1% year-over-year increase. This also marks the highest number of new listings in March since 2022, when 3,291 new listings were available on the market. Total inventory is reflecting similar trends to new listings. By the end of March, there were 3,946 homes listed in the Columbus & Central Ohio Regional MLS. Approximately 87% of the inventory consisted of existing homes, while the remaining 13% was attributed to new construction. When comparing year over year, the 3,946 homes for sale represent the most in the month of March since 2017, when there were 4,214 homes on the market.

“Financial markets have been unpredictable over the last month, and the housing sector is not immune to that type of volatility,” said Patterson.

Currently, the average 30-year fixed-rate mortgage stands at 6.99%, which is up from 6.83% last week. Despite the increase in April, rates have improved compared to this time last year when they were hovering at 7.36%.

“To put that into perspective, a half-percent decrease in mortgage rate can increase your buying power by over $20,000,” said Patterson.

Days on the market have increased to 39. At this time last year, homes sold in 33 days. 

In the local market spotlight, Grove City remains one of the hottest regions. There were 143 closed sales in the South-Western City School District, reflecting a 27.7% year-over-year increase. Additionally, there were 54 sales within Grove City proper, marking a 31.7% increase compared to last March.

We’re also monitoring Pickaway and Union counties closely. In March, Union County saw 84 closings, reflecting a 52.7% increase year over year, while Pickaway recorded 74 closed sales, marking a 45.1% increase compared to March 2024.