Columbus OH Real Estate - Columbus OH Homes For Sale | Zillow (2024)

FAQs

Are home prices falling in Columbus Ohio? ›

Columbus Housing Market Trends

In July 2024, Columbus home prices were up 1.8% compared to last year, selling for a median price of $290K. On average, homes in Columbus sell after 36 days on the market compared to 35 days last year. There were 965 homes sold in July this year, up from 922 last year.

As Columbus apartment and home hunters know all too well, demand for homes in the region continues to outrun supply. A 2022 report concluded that central Ohio should be building 14,000 to 19,000 apartments and homes each year to keep up with demand, well above the 10,000 to 12,000 built in recent years.

Amvet Village

With a median home price of $850,011 and a median rent of $1,105, Amvet Village is the most expensive neighborhood on our list. Based on the growth in home prices in Amvet Village over the last 3 years, it ranks No. 1 among all the neighborhoods in Columbus.

There's no better time than NOW! 23.4% of homes are selling below their listing price. Moreover, there's a 7.7% increase in newly listed homes. So, not only are you spoilt for choice, but you're also more likely to crack a good deal on your dream home.

Predictions for the Columbus housing market in 2024 indicate modest increases in property values, with a growth rate of 0.1% by January and a more significant rise by the year's end.

Sale-to-list price ratio: 101.55% Homes in Columbus, OH sold for 1.55% above asking price on average in July 2024. Columbus, OH is a buyer's market in July 2024, which means that the supply of homes is greater than the demand for homes.

Unsurprisingly, the nation's two largest cities — New York and Los Angeles — have the largest estimated overall housing shortages at roughly 390,000 and 337,000, respectively. Between 2021 and 2022, New York City's housing shortage increased by more than 3.5%, according to Zillow.

Median Home Price

The median price of a home in Ohio as of April 2024 was $238,700, according to Redfin's monthly housing data. This is an increase of 4.7% from April 2023, accurately reflecting predictions of continually increasing housing prices in the state.

What is affordable housing? An individual or family paying no more than 30% of their household income on rent or mortgage.

What are the wealthiest suburbs around Columbus, Ohio? Westerville, Powell, New Albany and Upper Arlington. Upper Arlington is the “old money,” as it is closer to downtown, while New Albany, Powell and Westerville are “new money.”

What is the nicest area of Columbus Ohio? ›

As of June 2024, the median home price in Columbus has risen to $291,000, marking an increase of approximately 6.3% from the previous year, as reported by RocketHomes. This price trend underscores the ongoing demand for housing in the area, despite some fluctuations in specific property types.

Competition levels may also be lower than spring and summer, especially if you're searching in an area that's popular among families with kids. If getting the lowest price possible is your main priority, consider searching for a home in November or December.

Michael Gevurtz, founder and CEO of Bluebird Lending — a national private lender largely servicing real estate developers and investors — concurred that Ohio is a popular spot for property acquisition based on the increase in loan applications from the state.

In July 2024, 40.3% of homes in Ohio sold above list price, down 3.8 points year. There were only 29.8% of homes that had price drops, down from 34.0% of homes in July last year. There was a 99.6% sale-to-list price, down 0.72 points year over year. …

With vibrant neighborhoods, excellent schools, and a strong job market, Columbus is an ideal place for families, professionals, and retirees alike. Buying a home here means investing in a community rich in history and optimism for the future.

Columbus concluded 2021 with lower unemployment than 2020 and with slightly higher GDP. During 2022, the unemployment rate dropped below 2.0% on three occasions. Current expectations are for local economic output to increase during 2022 in light of vehicle production and sales projections.