Prices in Columbus’ housing market continued to rise last month, according to the Columbus Realtors’ August Central Ohio Housing Report.
Housing sales prices were up 10% in August over the same month in 2021.
With an average sales price of about $338,000 in the market, home buyers are paying about $30,000 more for homes on average than they were last year.
The highly competitive market did see an increase in housing inventory available, 2.5% higher over last year, but the board of realtors President Sue Van Woerkom says the increase is modest and still forcing homebuyers to pay more.
“Home buyers are still facing a competitive market for the house of their choice,” said Van Woerkom, “More inventory is great, but offers still need to be strong to beat out sometimes a dozen others.”
Homes also stayed on the market a little longer than they did during the same time last year. On average, homes were up for sale for 15 days this August, up from 11 days in 2021.
But, “Homes may be on the market a bit longer this August, but homes that are in hot zip codes and turn and key are going faster,” Van Woerkom said.
In Blacklick and Gahanna, close to where the new Intel fabrication campus is being built, houses only stayed on the market for a week on average.
In Westerville, Pickerington and Worthington, homes spent an average of eight days on the market. Worthington claimed Realtor.com’s third “hottest” zip code in the country over the summer, according to the board of realtors.
“Three communities saw tough competition for houses in August,” Van Woerkom said.
Houses in Sunbury, Powell, and Grandview Heights spent half as much time on the market this August compared to last August.
“Last August it took home buyers more than two weeks to sell in Sunbury and Powell. Now, their homes are gone in just over a week,” she said.
