The Central Ohio residential real estate market is exhibiting notable trends that are shaping the landscape for buyers and sellers alike.
Inventory Levels and Market Activity
Good news for buyers! The market has seen a significant increase in housing inventory. In February 2025, the total number of homes for sale reached 4,600, marking a 21.2% increase compared to the previous year. This surge in inventory provides buyers with more options and has contributed to a slight easing of the previously tight market conditions.
- For Buyers: This provides some breathing room from the bidding wars. But don’t delay in your decisions… The best homes, priced right, are still moving fast.
- For Sellers: The longer a home sits on the market, the lower the ultimate sales price. It is essential you come onto the market price right, staged right, and marketed right.
- For Investors: The opportunities are out there. Just know the numbers and know the market.
- For a closer look at the central Ohio housing stats, go here.
- For the Central Ohio Board of Realtor reports, go here.
Median Sales Prices
Despite the increase in inventory, median sales prices have continued to rise, albeit at a moderate pace. In February 2025, the median sales price in Central Ohio was $305,000, reflecting a 1.9% year-over-year increase. This trend indicates sustained demand in the region. That number may be a little misleading. Depending on the area, the average home has increased in value 5%-8%. The difference is that the buyers are buying lower priced homes. In other words, buyers are paying 1.9% more for a smaller home with fewer features.
- For the Central Ohio Board of Realtor reports, go here.
New Construction vs. Existing Homes
A notable development is the growing price disparity between new constructions and existing homes. As of early 2025, the median listing price for new builds in the Columbus metro area is $498,000, compared to $309,000 for existing homes. This nearly $200,000 gap is influenced by factors such as increased building costs and the development of new communities in suburban and rural areas. This number also needs some clarification. It is not an apple-to-apple comparison. Municipalities are requiring higher building standards and new home buyers are expecting more expensive features, driving up the average sales price. For buyers who want the most up to date features, new construction is still a viable option. For buyers looking for the most affordable price per square foot, the existing home market will offer more options.
- For more information on the pros/cons of buying a new home, go here.
- For a breakdown of the numbers, go here.
Market Forecast
Looking ahead, Columbus is expected to remain a competitive housing market. An expected 1 million new jobs are expected to be created in 2025, ranking us No. 12 in Zillow’s list of hottest markets for 2025, reflecting our ongoing appeal to buyers. However, with mortgage rates predicted to stay relatively high, around 6-7%, affordability may become a concern for some buyers.
- To see the full ranking of cities, go here.
Conclusion
The Central Ohio housing market is experiencing a period of increased inventory and rising prices. The significant price gap between new and existing homes highlights the impact of construction costs and development trends. As the market continues to evolve, staying informed about these dynamics will be crucial for those looking to buy or sell in the region.
- Buyers: For more information, go here.
- Sellers: For more information, go here.
- Investors: For more information, go here.
About the author: Kyle Alfriend has been investing in real estate for over 35 years, helping more than 3,000 clients buy, sell, and invest in real estate. Whether you’re a first-time buyer, seasoned investor, or looking to sell for maximum value, Kyle provides expert guidance to help you achieve your goals.
Contact Kyle Alfriend today: (614) 395-1776 | info@AlfriendGroup.com
Visit our website: AlfriendGroup.com