Market Report

Your Real Estate Market Update:

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

Last updated January 25, 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: marketstatsreports.showingtime.com/CR/sst/2023-06/main.htm

December 2024 Central Ohio Housing Report from Columbus REALTORS®

2024 surpasses 2023 in all areas. In December, sales increased by 13% compared to last year

COLUMBUS, Ohio (Jan. 24, 2024)—Central Ohio concluded a robust 2024 in residential real estate sales by recording 2,169 closings in December. This marks a 13.1% increase from the 1,917 closed sales in December 2023.

As projected in last month’s report, 2024 surpassed 2023 in nearly every statistical category. Closed sales increased by 4.2% for the year, with 28,754 sales recorded in the Columbus & Central Ohio Regional Multiple Listing Service (MLS), up from 27,592 sales in 2023.

“In 2024, we saw an increase in new listings, which provided more options for consumers,” said Buffie Patterson, the 2025 President of Columbus REALTORS®. “We also observed a price increase of about 5%, which caused homes to remain on the market roughly four days longer than they did last year.”

“More than anything, I believe we observed the market returning to the pre-pandemic norms of 2019 and earlier,” said Patterson.

The data supports this assertion. During the peak of the COVID-19 pandemic, closed sales in December—usually one of the slowest months for real estate—were 2,715 in 2020 and 2,897 in 2021. In the past three Decembers, sales have returned to more statistically typical levels

The median sales price in central Ohio rose 8.5% year over year, reaching $320,000. Sellers receive 98.5% of the final listing price, indicating that buyers save an average of 1.5% at closing.

In November, there were 4,600 homes for sale in the MLS. That number fell to 3,889 in December, as only 1,600 new homes came online. However, that total still exceeded December 2023, when 1,434 new listings were added to the housing supply.

In the local spotlight, sales increased by 40% year over year in the South-Western City School District, with 139 closings. Grove City proper recorded 59 sales, representing a 60% increase year over year. In Union County, Marysville saw a 48% uptick with 46 closings.