Columbus, OH Housing Market: What to Expect in 2025?

Name: Columbus, OH Housing Market - Price Trend Analysis
Creator: Houzeo
License: https://www.houzeo.com/terms-of-use/

Overview

Supply

Demand

Buy or Sell

Columbus Housing Market Overview

The housing market in Columbus currently shows mixed signals. The median home price, now at $270,000, has declined by 1.1% compared to last year. Houses in Columbus spend 50 days on the market, which is 8 days longer than this time last year. However, only 659 homes were sold, down by 10.8% YoY.

Columbus offers a range of housing, from historic homes near downtown to new builds in growing suburbs. Because of its strong job market, central location, and affordable cost of living, the city continues to attract buyers. Columbus provides value and opportunities to both first-time buyers and long-term homeowners.

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Columbus Housing Supply

This month, the total number of homes for sale in Columbus has reached 1,834, up 24.9% from the previous year. However, only 816 new listings have entered the market, which is a 5.1% decrease YoY. So, buyers still have a lot of inventory to choose from, but new options remain limited.

The city's housing supply in Columbus shifts with the seasons. More homes in Columbus, Ohio, hit the market in spring and summer, as sellers aim to close before the new school year. Buyers are also active during this time, as they want to settle in before fall. Homes now take longer to sell, which gives buyers more room to negotiate. Be sure to inspect homes closely and ask for seller concessions to reduce your upfront costs.

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Columbus Housing Demand

The Columbus real estate market shows signs of shifting in favor of buyers. While 32.2% of homes sell above the list price, this figure has decreased by 4 percentage points from last year. Meanwhile, 22.6% of homes have seen price drops, up by 4.3 percentage points YoY. This means buyers now have more room to negotiate. The sale-to-list price ratio sits at 99.3%, which indicates that most sellers receive close to their asking price. However, many of them have to adjust prices in order to retain buyers.

To compete, sellers should set realistic prices and offer concessions to attract serious buyers. Listing on the Ohio MLS also increases your property's visibility. For buyers, this market holds opportunities for good deals, thanks to the increased inventory. Moreover, if you focus on homes that have stayed on the market for longer, or recently dropped their price, you'll have more leverage.

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Strong
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Balanced

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Buyer’s Market

Seller’s Market

Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.

Columbus Market: When to Buy or Sell?

The Columbus housing market typically cycles between buyer-friendly and seller-friendly conditions, similar to the broader Ohio housing market. While the market remains active all year round, seasonal trends create opportunities for both buyers and sellers. When inventory increases and competition slows, buyers gain more room to negotiate. On the other hand, when demand outpaces supply, sellers benefit from quicker sales and stronger offers.

If Columbus' housing supply rises above 5-6 months, which is the balanced threshold of the US housing market, buyers get more time to evaluate their options. On the other hand, when supply drops below this level, sellers can expect multiple offers at more favorable prices. Knowledge of these trends can help you time your purchase or sale for the best possible outcome.

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Frequently Asked Questions

How have Columbus, Ohio, home prices changed over the past year?

The median home price in Columbus, Ohio, has decreased by 1.1% YoY, to reach $270,000. At the same time, home sales have slowed compared to last year. If you're considering selling, use our free home value estimator to find your property's current worth and price it competitively.

What are Columbus, Ohio, housing market predictions for 2025?

The Columbus housing market forecast points to a stable market with modest price changes in 2025. Slower sales, more price drops, and increased days on market suggest that rapid price growth is unlikely in the short term. However, Columbus's strong job market, affordable housing, and central location should continue to support steady demand.

What's the average home price in Columbus, Ohio?

Columbus' average home price varies based on neighborhood, property type, and size. The median home value is $270,000, which is a 1.1% decrease over the past year. Condos average $248,000, while larger or newly built homes in desirable neighborhoods are priced higher. You can explore homes for sale in Columbus to find a property that fits your budget and lifestyle.

What are the biggest Columbus housing market challenges right now?

The Columbus, Ohio, real estate market has limited new listings, and affordability concerns due to high interest rates. These factors can create uncertainty for both buyers and sellers.

Are house prices in Columbus, Ohio, going down?

Yes, Columbus house prices have slightly declined. The current median sale price is $270,000, which is down 1.1% compared to last year. This gives buyers more negotiating power and creates opportunities for better deals.

When will the Columbus housing market crash?

According to expert predictions, a market crash in Columbus is very unlikely. While price growth has slowed and inventory has increased, the market remains stable. Columbus continues to attract buyers with its affordability and strong local economy. So, demand is expected to stay steady through 2025.

How to buy a house in Columbus, Ohio?

Buying a house in Columbus starts with setting a budget and getting pre-approved for a mortgage. Next, you can search for houses for sale in Columbus, submit offers, secure financing, and complete the closing process.

How can I list my homes in Columbus, Ohio, for sale?

You can list your home for sale with a Flat Fee MLS Ohio listing service. High-tech MLS listing sites like Houzeo automatically assign the right MLS paperwork based on your location. 🚀

What is the average mortgage rate for buyers in Columbus?

The average mortgage rate for buyers in Columbus currently fluctuates between 6% and 6.8%, consistent with national trends. Actual rates depend on market conditions and the borrower's credit score. Make sure you check current rates with multiple lenders before you apply for a loan.

What is Columbus' cost of living?

The cost of living in Columbus, Ohio, is 7% lower than the national average and similar to the state average. Housing is relatively affordable, with the median home price at $270,000. Utilities and transportation expenses are also lower than the US median.

Important Legal Disclosures