The Columbus Ohio area had a record number of home sales in February. In fact, there was a 13.3% increase year over year and record high for the month.

“Overall, home sales took a leap over the previous month – from 1,745 to 1,976 sales, which in a normal market and economy would signal an early start of a busy spring. Now we are moving into unchartered territory putting all statistical data on hold,” said Andy Mills, 2020 President of Columbus REALTORS®.

February’s average home sales price was $237,371, which is a 6.7% increase year over year. The median sales price was $210,000, a 10.7% increase from the same time last year.

Inventory in February 2020 was down 5.5% from January and down 9.9% from last February.

“Even though the number of central Ohio new listings grew to 2,455 which was 9.2 percent ahead of last year and just slightly higher than January, the number of active listings at month end was still lower than normal. This reflects the strong demand for residential properties in our area,” stated Mills.

Lower-priced homes are still selling faster in Central Ohio.
Homes under $350k sold in an average of 41 days
Homes $350k-$500k sold in an average of 78 days
Homes $500k-$700k sold in an average of 84 days
Homes $700k and up sold in an average of 111 days

Columbus Realtor Local Market Update PDF – February 2020

It’s important to keep in mind that this report reflects February numbers. March will likely see a slow down in sales as people stay home due to COVID-19. If you need to buy or sell a Columbus home during this time, please contact us at 614-517-4916 to discuss how we are working to slow the spread while still helping clients through this difficult time.