Central Ohio Housing Report – October 2024

Closings are up nearly 8 percent in October in the latest monthly report from Columbus REALTORS®.

COLUMBUS, Ohio (Nov. 20, 2024) — Sales in central Ohio remained steady into October as the region witnessed a 7.6% increase in closed sales and 3,047 new listings added to the market.

There were 2,539 home sales reported in the Columbus & Central Ohio Regional MLS last month, up from 2,360 sales in October 2023. This month’s sales closely mirrored September, when 2,508 homes changed hands.

The median sale price is up 3.3% year over year, checking in at $315,000. One bright spot for consumers is that the median sales price dropped 2.8% compared to last month, when the median sales price was $324,000.

“If you’re a potential home buyer or seller in central Ohio, we know that the market can be a little challenging at times,” said Columbus REALTORS® President Scott Hrabcak. “When sales, inventory, and prices are up, a REALTOR can provide expertise and navigate you through the process.”

Home buyers in October experienced, on average, a one percent discount at closing on the last list price received. Even better news for consumers is that there was a 3.1% discount based on the original list price received.

“For the first time in several years, we are seeing some price adjustments after the initial listing,” said Hrabcak. “That doesn’t mean that in-demand areas are not still receiving multiple offers or even selling for over asking, but this is a thread of good news for buyers.”

Through October, there were 4,880 homes for sale in the Columbus & Central Ohio Regional MLS. That is a 27.8% increase compared to October 2023. Homes lasted an average of 28 days on the market in October compared to 22 days on the market in 2023.

Grove City saw an 11 percent increase in sales year over year, with 164 closings. Another in-demand area is the Olentangy school district, which saw a 10 percent rise year over year with 109 closings. Additionally, Lancaster posted 69 closings, equaling a 68% increase year over year.

As we get closer to the end of 2024, this year continues to outperform 2023. There have been 24,409 sales this year compared to 23,568 sales through October 2023. That is a 3.6% increase in closed sales.

Sortable Housing Statistics
Central Ohio Housing Statistics (PDF)

Columbus REALTORS® is comprised of almost 10,000 real estate professionals engaged in residential sales and leasing, commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development and more.

The Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Marion, Morrow, Pickaway and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Muskingum, Perry and Ross counties.