The number of homes sold in central Ohio is up 2.1 percent so far this year compared to the first nine months of 2024, according to new figures from Columbus Realtors.
Home sales increased 7.9 percent in September with an average sale price of $368,290.
The average price of a home sold this year is up 2.9 percent, to $377,636 while the median sales price so far this year is $329,000, an increase of 2.8 percent.
The median sales price did drop almost 4 percent from August to September.
In September, buyers were getting, on average, a 3.5 percent discount at closing, with homes selling for 96.5 percent of their original list price.
Homes are also taking longer to sell. The median days on market last month was 30, up from 25 days a year earlier.
“I think this is a signal that sellers are pricing accurately based on the advice of their real estate professional, and with inventory rising, buyers have a little more room to negotiate,” said Columbus Realtors President Buffie Patterson. “Fall often brings motivated sellers and slightly less competition, which can make it one of the best times of year to make a move.”
In September, 3,240 houses and condominiums were added to the local market, increasing the total inventory to 5,815 homes available for purchase. Last September, inventory was at 4,804 homes, representing a 21 percent increase in the past year.
Single-family home sales are up 3.3 percent this year while condominium sales are down 0.1 percent.
Franklin County led the way in closings last month with 1,272, up 2.3 percent year over year. Delaware County followed with 251 closings, down 1.6 percent from last year.
Licking County is third with 212 sales, but posted an 18.4 percent increase in sales over last September. Fairfield County had 201 sales for an increase of 6.9 percent and Union County, with 100 sales, saw a 19 percent increase.
Upper Arlington was the most expensive municipality with an average home price of $770,668 last month, followed by Powell ($739,844), New Albany ($719,157) and Bexley ($677,111).
Across the state, home sales reached 11,562 in September, a 7.5 percent increase from the 10,743 homes sold in September 2024. The median sales price across Ohio climbed to $260,000, up 4 percent from $250,000 a year ago.
“September’s numbers tell a story of consistency and confidence in Ohio real estate,” said Ohio Realtors President Michelle Billings. “Buyers are eager to invest in homeownership and sellers are responding to that demand with more listings hitting the market. Ohio continues to offer value, stability, and opportunity for consumers across the state and nation.”
Active listings reached 34,745 in September, a 2.1 percent increase from a year ago and 13 percent higher than September 2023. Ohio recorded 3.35 months of housing supply in September, up 1.2 percent from last year.
Nationally, home sales increased 4.1 percent in September from a year ago, according to the National Association of Realtors.
Sales rose by 1.5 percent from August to September as sales increased in the Northeast, South and West, and fell in the Midwest. Year over year, sales rose in the Northeast, Midwest and South, and remained flat in the West.
“As anticipated, falling mortgage rates are lifting home sales,” said NAR Chief Economist Lawrence Yun. “Improving housing affordability is also contributing to the increase in sales … Inventory is matching a five-year high, though it remains below pre-COVID levels.”
The median homes price last month was $415,200, up 2.1 percent from September 2024.
