For Columbus-area homeowners and shoppers, here are five numbers that explain where the central Ohio housing market has been and where it is going.
It took slightly longer to sell a central Ohio home last year than in 2021, when it took an average of 16 days. Historically, 18 days is still an extremely fast sales pace, again suggesting that competition remains high among Columbus-area buyers.But homes also stayed longer on the market as the year wore on. In December, the average home sold after being listed 29 days, well above 18 days a year earlier. Sellers may need more patience as the year advances.
In December, the number of homes listed fell 23% from, the previous year, suggesting that the number of homes on the market will remain constricted, especially as new home builders also start to pull back. The shortage of homes is likely to keep competition high, helping offset the impact of interest rates. That's good news for home sellers, but not buyers.Last year's price gains cap three years of unprecedented price hikes in Columbus.
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