Market Report

Your Real Estate Market Update:

Local Market Information provided by the Columbus Board of Realtors MLS. Last updated July 26,2024

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: marketstatsreports.showingtime.com/CR/sst/2023-06/main.htm

June 2024 Housing Report:

HOUSING INVENTORY CLIMBS ALONG WITH NEW LISTINGS ON THE MARKET. COLUMBUS REALTORS® BREAKS DOWN THE SUMMER HOUSING MARKET.

COLUMBUS, Ohio (July 23, 2024)—The central Ohio housing market broke its own record in June, and new listings increased, according to the latest housing statistics for June 2024 provided by Columbus REALTORS®.

The median sales price hit a new all-time high. Homes sold for an average of $334,900 in June, a 3.9% increase year over year. To put that jump into perspective, just five years ago, the median sales price in Central Ohio was $181,500.

“We are riding this wave of increased home prices this year. The downfall? Sellers will need to have patience as buyers are taking a little longer to make the big financial commitment,” said Columbus REALTORS® President Scott Hrabcak, “Having a dedicated REALTOR® by your side can help make the selling period a lot less stressful.”

On average, homes in the Columbus & Central Ohio Regional MLS take just over three weeks to sell. Last year, homes sold in just about 20 days.

“Buyers are finally getting more homes to choose from around town,” Hrabcak said.

Inventory is up more than 35% year over year. Housing numbers for June show 3,905 homes on the market. That’s an increase of more than 1,000 compared to June of 2023.

Additionally, inventory reflects those numbers with a 33% increase in a month’s supply of inventory for June.

Several Central Ohio communities are seeing a boom in their housing market.

Big Walnut Local School District in Delaware County experienced a 50% increase in closed sales year over year. 33 homebuyers said yes to investments here in June.

Fourteen families snagged forever homes in Grandview Heights in Franklin County. That’s more than a 55% increase in closed sales year over year. The spike in sales comes even as the median price of a home in Grandview Heights jumped 55% since last June. It rose to an average of $709,000.