Perry and Ross Counties
“COLUMBUS, Ohio (Oct. 23, 2024) — September saw a 2.6% increase in closed sales, and inventory rose to a two-month supply for the first time in six years in the latest set of housing statistics issued by Columbus REALTORS®. The total inventory of homes for sale in the Columbus & Central Ohio Regional MLS was 4,804 in September, up 4.7% from last month and 32.6% year over year. The last time inventory reached a two-month supply in central Ohio was August 2018, when 5,429 homes were listed.
“For the better part of two years, we saw a large majority of homeowners choosing to stay in their homes,” said Columbus REALTORS® President Scott Hrabcak. “As mortgage rates dropped and inventory increased, the market stabilized, but sales remained consistent. In the end, consumers have more choices.”
There are similarities between September 2024 and August 2018. There were 3,249 closed sales, with an inventory of 5,429 homes. That month, there were 3,821 new listings, and homes sold at a one percent discount of the last list price received.
The most significant disparity between the two months came in closed sales. There were 2,508 in September 2024, a 29% decrease over the total in 2018. There were 3,062 new listings in September 2024, and buyers were getting a 0.7% discount on average at the closing table.
Median sale price inched to $324,000 this month, a 4% increase year over year and a 0.5% increase over last month. Homes remain on the market for an average of 25 days.
Year-to-date, there have been 21,844 closed sales in the MLS, a 3.1% increase over 2023. The median sales price for the year is $320,000.
Locally, there were 75 sales in Lancaster, a 47.1% increase year over year. The median sales price in Lancaster was $277,400, up 26.1% over last year. There were 48 closed sales in Gahanna (Corp.) in September. The two-time “Hottest Zip Code in America” lived up to its moniker. Homes in Gahanna were selling at a median sales price of $365,000 this month. A few miles south of the I-270 loop, Teays Valley Local School District saw 39 sales, resulting in a 95% increase year over year. The median sales price for those Teays Valley home sales was $368,150. Teays Valley LSD consists of the South Bloomfield, Ashville, and Amanda communities.” – Columbus REALTORS®
