At $318,826 the average sales price of a Columbus home has reached an all time record. That’s 11.9% higher than a year ago, and higher than the previous record from June 2021.

The number of closed sales was 2.5% lower than in March 2021. This is mostly due to the lack of inventory, and not a result of rising interest rates.

The inventory of active listings has improved by 10.8% which will bode well for desperate buyers who have been losing in multiple bidding wars.

Median Sales Price Jumps by 13.6%

The median sales price has jumped to $279,000 – a sharp increase over the past few months. It indicates that buyers have shifted to more expensive homes.

Note: median means that half of all homes sell for more than the median sales price, while the other 50% sell less.

Days on Market Plummet by 25%

The substantial drop in days on market (DOM) is driven by the demand for luxury homes.

As you can see below, homes in the $500K – $700K price range sold twice as fast in the first quarter of 2022 than during the same period last year.

Inventory & New Listings on the Rise

Both New Listings and the Listing Inventory were up in March by 6.4% and 10.8% respectively.

While this is good news for buyers, pent-up demand is still very high and first time buyers will continue to struggle to win bidding wars.

Columbus Housing Charts – Always Up-to-Date

We are updating housing data every week. You can find all the charts on my website. Just click the buttons below!

Monthly Housing Stats Weekly Market Updates

Housing Stats for March 2022

Here’s a summary of home sales data for March 2022 as reported by the Columbus Association of Realtors:

  • Closed Transactions – 2,430 – DOWN by 2.5%​​
  • New Listings – 3,291 – UP by 6.4%
  • Days on Market – 18 – DOWN by 25.0%
  • Average Sales Price – $318,826 – UP by 11.9%
  • Average Price / Sqft – $1​​81.04 – UP by 14.2%

Go to Columbus Realtors to see the full report.

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