By Kyle Alfriend
Let’s talk about the Central Ohio real estate market. It’s May 2025, and if you’re a buyer, a seller, or just someone whose Zillow browsing habits are more obsessive than their gym attendance, here’s what you need to know.
To the Point: The market isn’t crashing. It’s correcting.
We’re in the middle of a vibe shift. The post-COVID rocket fuel has burned off, mortgage rates have settled into the “you’re-gonna-feel-it” zone, and affordability is officially the elephant doing squats on the chest of first-time buyers.
Prices aren’t collapsing. But the days of 40 offers, 30% over ask, and love letters written in blood? Gone.
Inventory: Still Anemic
We’re still seeing record-low inventory. Why? Because 75% of American homeowners locked in mortgage rates under 4%. Why would they trade in a golden ticket for a 7% mortgage on a home that costs 30% more? They won’t. They’ll remodel their bathroom and stay put.
In Central Ohio, active listings are up slightly, but don’t be fooled — we’re still below pre-2020 norms. Supply is crawling forward. Demand is jogging. The result? Prices are sticky.
Prices: Plateauing, Not Plummeting
Average home prices in Central Ohio have ticked up about 2% since January. Not sexy, not scary. Just steady. We’re seeing a bifurcated market: move-in-ready, well-located homes are still going fast (think Dublin, Powell, Upper Arlington). Meanwhile, homes with issues — layout weirdness, bad photos, “updates” from 1993 — are sitting longer.
The luxury market (over $1M)? Slower, but still active. High-net-worth buyers aren’t rate-sensitive — they’re opportunity-sensitive. And they’re sniffing out deals.
Interest Rates: The New Normal
You can’t talk real estate in 2025 without talking rates. The 30-year fixed is hovering between 6.5% and 7%. Will it drop to 5%? Doubt it. The Fed has PTSD from the inflation party of 2022–2023, and they’re not about to spike the punch again.
Buyers: This is the new normal. Waiting for 3% is like waiting for the Cleveland Browns to win a Super Bowl — possible, but not part of any serious financial strategy.
Millennials: Delayed, Not Denied
Millennials — now entering peak earning and home-buying years — are still trying to get in the game. But high prices, high rates, and high student loan balances are making that harder than Wordle after a whiskey.
They want space, they want location, and they want affordability. They’ll compromise on two.
What To Do (Aka: What Would Kyle Do?)
Buyers:
- Don’t try to time the market. Time in the market beats timing the market — just like investing.
- Get pre-approved. And I mean really pre-approved, not “my cousin at Wells Fargo says I’m good.”
- Be aggressive, but not emotional. Fall in love with the math, not the fireplace.
Sellers:
- Price it right or prepare to sit. Buyers are done playing stupid.
- Stage. Clean. Fix. List like it matters — because it does.
- Be ready to negotiate. It’s not 2021 anymore. Don’t expect 17 offers in 3 hours.
Final Thought: Central Ohio is Still Undervalued
Compared to national markets, we’re still a bargain. Strong job growth, a diversified economy, and actual quality of life make Central Ohio a long-term bet. This isn’t Vegas. It’s Omaha with better sports teams. Stability is the asset.
Bottom line:
This market is sobering up, not shutting down. If you’re smart, strategic, and not seduced by hype, Central Ohio is still a damn good place to buy, sell, and invest.
Click the links for more information for buyers, sellers, and investors.
– Kyle Alfriend
Founder | The Alfriend Group
Real estate warrior. Data junkie. Defender of deal logic.