Central Ohio home buyers may want to take a fresh look at the market! The total inventory of homes for sale in Central Ohio increased by 34% on a year-over-year basis during January 2025, with new listings for the month up 7% compared to a year ago.
According to statistics from Columbus REALTORS©, part of the reason for the increased inventory could be due to slower home sales. January 2025 sale closings were down 3.3% compared to January 2024. Overall, closings haven’t been this low during January since 2015.
For January 2025, Central Ohio homes spent an average of 43 days on market. This is still a fast sales pace by historical norms. Yet for Central Ohio, it’s a bit longer than recent averages.
Meanwhile, Central Ohio’s median home sale price was $299,900 in January, posting an increase of 4.8% from the prior year. There was modest wiggle room in home prices, with sellers getting about 98.3% of their asking price.
The Central Ohio real estate market remains far from being balanced. Inventory levels need to improve further for home buyers to see price relief. Mortgage interest rates also remain close to 7%. Home buying is less affordable than it was just a few years ago, and buyers are being careful.
Still, the improvement in home inventory is good news. For those who are financially prepared for home buying, the market is worth a look, especially with the guidance of an Exclusive Buyer’s Broker!
As Exclusive Buyer’s Brokers, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interests.
Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!
Contact us with your home buying questions! Remember, we are with you every step of the way…all the way home!
Andrew Show
Exclusive Buyer’s Broker, CEBA-M, MCNE, CSP, PSA,e-PRO, CREM, ABRM, AHWD
Buyer’s Resource Realty Services www.BuyersHome.com
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax
