The January housing numbers are in, and they are not looking good. After setting new records every month in 2017, the tight inventory put a brake on the booming real estate market. There’s still a lot of demand from buyers. There are just not enough homes for sale, and new construction is lacking behind.

New Listings Down by 11.2% in Columbus

While the number of closed transactions was down by only 1.1% in January (as compared to a year ago), the number of new listings added to the MLS has fallen by 11.2%.

Some suburban markets fared even worse:

  • Dublin School District: 20.2% fewer new listings
  • Olentangy Local School district: 28.7% fewer new listings
  • Dublin Corp: 29.7% fewer new listings

At the beginning of February 2018 only 3,410 homes were listed on the Columbus MLS.  That’s 21.2% fewer homes for sale than a year ago.

Over the past 6 years the inventory of listings has shrunk by 70% – see chart above.

Buyers Don’t Have Much Choice​

If you are in the market for a home, you don’t have much choice. The graphic below compares the inventory of active listings to closed transactions for the month of January over a six-year period.

In the “good old days” of 2012 there were 10 listings for every buyer to choose from. Now there are only 2 listings.

Not Every Home Sells Quickly​

If you are a homeowner who’s thinking about selling, you probably want to know “how quickly will my home sell?

There’s no definite answer, because the time it takes to get a contract on a listing (days on market – DOM) depends on many parameters, such as the condition of your house, any updates you made, it’s location, the list price, and more.​

Homes in the middle price ranges – between $100,000 and $350,000 – typically sell in less than 30 days. If you want to sell your luxury mansion, you’ll have to wait 3 to 6 months for the right buyer to make an offer.

This chart shows the average days on market for various price ranges.

January 2018 Columbus Housing Report

These numbers show Central Ohio home sales during the month of January 2018 as compared to the same month a year ago:

  • Closed Sales  1,636 (-1.1%)
  • Pending Contracts  2,329 (-5.8%)
  • Average Sales Price  $205,779 (+5.8%)
  • Days on Market  44 (-12.0%)
  • New Listings  1,928 (-11.9%)
  • Months Supply of Inventory  1.2

For the complete Columbus housing report, as well as market stats for your suburb and school district go to

If you have question about this report or want to find out specifics on your neighborhood, ​Call or text me at (614) 975-9650