Following a record-breaking year, January’s housing activity fell flat as new listings, contracts and home sales dropped below those of 2021.
New listings were up 11 percent in 2021 but ticked down (0.5 percent) in the first month of 2022.
Home sales and contracts dipped 2.8 percent and 0.8 percent, respectively. Even so, home sales were still higher than any other year according to the Columbus REALTORS® Multiple Listing Service (MLS).
The median home price increased 11.1 percent to $250,000 and the average home price ($290,847) increased 10.4 percent compared to January of 2021.
“The central Ohio housing market was very active last month, despite the slight drop in sales,” said Sue Van Woerkom, 2022 President of Columbus REALTORS®. “We’re seeing some buyers get discouraged due to lack of inventory. But, with perseverance, we will find them a home.”
Population in the counties served by the Columbus REALTORS® MLS increased almost 13 percent between the 2010 and 2020 census representing 85.5 percent of the population growth for all of Ohio.
Keeping pace with the population growth, the number of new listings grew by just over 14 percent over the last decade. However, home sales have grown 58 percent during the same time frame.
Ten years ago, REALTORS® were selling 66% of the inventory. In 2021, they sold 91.3 percent!
“It’s no surprise that more and more folks want to live here,” added Van Woerkom. “Central Ohio has so much to offer, from arts and entertainment to parks and recreation. It’s a great place to live, work and raise a family!”
January 2022 Housing Report
Columbus REALTORS® is comprised of over 9,700 real estate professionals engaged in residential sales and leasing, commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development and more.
The Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Marion, Morrow, Pickaway and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Muskingum, Perry and Ross counties.
To view residential properties for sale, visitHomes.com.
To view commercial properties for sale or lease, visitCrexi.com.
