December 2024 was a busy month for Central Ohio home buyers, who closed 2,169 home purchases during the month. Overall, 2024 was another strong year for Central Ohio real estate, with home purchase activity up 4.2%. Central Ohio communities with the strongest sales activity included the South-Western City School District, Grove City, and Marysville.

Central Ohio home inventory improved during 2024, but the uptick in available homes was met with robust buyer demand. Consequently, home prices increased 8.5% on a year-over-year basis, reaching a median sales price of $320,000.

There are a couple of bright spots for Central Ohio home buyers in the statistics:

  1. Homes are taking a few days longer to sell.
  2. Sellers are getting about 98.5% of their asking price, on average, meaning that sellers are willing to negotiate to some degree.

Based on 2024’s year-end data, home buyers in Central Ohio may see these trends in 2025:

1. More listings. These are expected from pent-up sellers who are ready to capitalize on their equity, and from new construction projects that are slated to be completed during 2025. However, home demand will still outpace supply, assuming stable economic conditions.

    2. Increased home prices. Until home inventory matches, or exceeds, home demand, prices are still going up. But continued improvement in home inventory will keep prices from overheating.

    3. More flexibility from home sellers. An improvement in home inventory, coupled with homes spending more time on the market, will motivate home sellers to consider reasonable offers, rather than expect bidding wars.

    4. Variable market conditions from one community to another. Trendy neighborhoods and newer homes are likely to see faster sales, and firmer prices.

    All real estate is local, and home buyers should work closely with an Exclusive Buyer’s Broker to obtain the best possible value for their home buying budget!

    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 interest.

    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