Todd Roberts Realtor in Central Ohio

10/23/2024

Central Ohio Housing Report — September 2024

COLUMBUS, Ohio (Oct. 23, 2024) — September saw a 2.6% increase in closed sales, and inventory rose to a two-month supply for the first time in six years in the latest set of housing statistics issued by Columbus REALTORS®.

The total inventory of homes for sale in the Columbus & Central Ohio Regional MLS was 4,804 in September, up 4.7% from last month and 32.6% year over year. The last time inventory reached a two-month supply in central Ohio was August 2018, when 5,429 homes were listed.

“For the better part of two years, we saw a large majority of homeowners choosing to stay in their homes,” said Columbus REALTORS® President Scott Hrabcak. “As mortgage rates dropped and inventory increased, the market stabilized, but sales remained consistent. In the end, consumers have more choices.”

There are similarities between September 2024 and August 2018. There were 3,249 closed sales, with an inventory of 5,429 homes. That month, there were 3,821 new listings, and homes sold at a one percent discount of the last list price received.

The most significant disparity between the two months came in closed sales. There were 2,508 in September 2024, a 29% decrease over the total in 2018. There were 3,062 new listings in September 2024, and buyers were getting a 0.7% discount on average at the closing table.

Median sale price inched to $324,000 this month, a 4% increase year over year and a 0.5% increase over last month. Homes remain on the market for an average of 25 days.

Year-to-date, there have been 21,844 closed sales in the MLS, a 3.1% increase over 2023. The median sales price for the year is $320,000.

Locally, there were 75 sales in Lancaster, a 47.1% increase year over year. The median sales price in Lancaster was $277,400, up 26.1% over last year. There were 48 closed sales in Gahanna (Corp.) in September. The two-time “Hottest Zip Code in America” lived up to its moniker. Homes in Gahanna were selling at a median sales price of $365,000 this month. A few miles south of the I-270 loop, Teays Valley Local School District saw 39 sales, resulting in a 95% increase year over year. The median sales price for those Teays Valley home sales was $368,150. Teays Valley L*D consists of the South Bloomfield, Ashville, and Amanda communities.

Columbus REALTORS® is the leading advocate and trusted source for real estate in central Ohio. It comprises almost 10,000 real estate professionals engaged in residential and commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development, and more.

The Columbus & Central Ohio Regional Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fairfield, Fayette, Hocking, Licking, Madison, Marion, Morrow, Perry, Pickaway, and Union Counties and parts of Athens, Champaign, Clark, Clinton, Knox, Logan, Muskingum, and Ross counties.

09/16/2024

08/16/2024

Looking to buy a home in the next 3-6 months? Let's discuss this roadmap to find you the right house. Call or text me today!

Todd Roberts
Exp Realty
614-704-9299

07/17/2024

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Well maintained 3 bedroom 2 full bath home with full base...

06/05/2024

Key insights from the April 2024 Central Ohio housing report!

Everything is pointing upward. Full housing reports are available on columbusrealtors.com.

05/22/2024

Central Ohio Housing Report — April 2024

Closed sales increased 13 percent year over year and total inventory spiked 28 percent when compared to last April in the most recent housing report provided by Columbus REALTORS®.



Last April there were 2,388 homes for sale in central Ohio and this April that number rose to 3,054 which is 1.3 months of inventory. A balanced housing market contains 5-7 months of total inventory.



While still firmly entrenched in a seller’s market, the signs pointing to more choices for potential buyers is positive news. On average, homes are selling slightly over asking price at 100.3 percent of last list price received.



“It’s great to see our total inventory climb over 3,000 units,” said Columbus REALTORS® President Scott Hrabcak. “We haven’t been at that level in the month of April since 2020. There is still plenty of competition out there but as we head into the summer months it’s great that REALTORS® will have more options for buyers.”



Another positive sign is the 17.2 percent increase in new listings in the month of April. There were 3,257 new homes that came on to the market. For the year, there have been 10,471 new listings, which is an 11.9 percent increase year over year.



The median sales price is also up 5.2 percent when compared to last year. That number sits at $317,513 which is a high-water mark for 2024. Last month, the median sales price was $310,000 in central Ohio.



*Of the closed sales in April, 63 percent were financed with conventional loans. All cash sales accounted for 20 percent of sales this month. FHA and USDA loans were utilized in 12 percent of home purchases this month while VA loans accounted for 5 percent of sales.



In the local spotlight for April, there were 38 sales in Marysville marking an 81 percent increase year over year. There were 60 sales in Delaware City School District, marking a 77 percent increase over April 2023 and Union County was up 67 percent over last year with 75 closed sales. The 75 sales ranked fourth among central Ohio counties, trailing only Franklin County (1,250 sales), Delaware County (242 sales), Licking County (179 sales), and Fairfield County (162 sales).

Columbus REALTORS® is composed of almost 10,000 real estate professionals engaged in residential and commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development, and more.



The Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Marion, Morrow, Pickaway, and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Muskingum, Perry, and Ross counties.



For media inquiries, please contact Craig Hicks, Senior Director of Communication & Engagement at Columbus REALTORS®



*Financing details were sourced from the Columbus and Central Ohio Regional MLS Price Range Report from April, 2024.

04/30/2024

Key insights from the March 2024 central Ohio housing report!

For a break down of counties and school districts, visit: https://lnkd.in/d2QwSDDT