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 October Central Ohio Real Estate Market Report


In order to avoid bad real estate decisions, it's important to have a good understanding of what’s going on in the Central Ohio market, along with national trends that could have an impact locally.

Knowing the most important information will better prepare you to make good real estate decisions (whether you're making a move or staying put).

My October 2021 market report showcases everything you need to know about local real estate trends (using data through September 2021)

$301K

Average Sales Price

1

Months of Homes for Sale

14

Average Days on the Market

$167.24

Average $/Square Ft.

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October Central Ohio Real Estate Market Report

Josh Dawson

My goal is simple: to help you make better real estate decisions...

My goal is simple: to help you make better real estate decisions...

Oct 21 3 minutes read

Homes Sold

100.9%

Sale-to-List Price

3,649

New Listings

3,860

Under Contract

4,088

Active Listings

3.592

Closed Sales


Top National Trends

Right now, nationally, we are on pace for a year-over-year 19.7% real estate price appreciation, which is much higher than the 4.3% long-term average. Expect price appreciation to calm down due to rising interest rates, and more supply coming to the market. But, don't expect real estate to depreciate.

Home sales are very difficult to forecast. Be careful of reports comparing this current market to the same time last year, as 2020 was anything but a normal real estate market. 2019 may be a better market comparison (our last normal market).

Mortgage Rates are hovering around 3% at the time of this writing (October 2021). Expect them to creep up over the next year, but they are projected to remain low compared to their long-term averages.

A homeowner who closed on a $350,000 purchase is projected to gain over $111,000 in equity over the next five years.


Price Deceleration

Right now, nationally, we are on pace for a year-over-year 19.7% real estate price appreciation, which is much higher than the 4.3% long-term average. Expect price appreciation to calm down due to rising interest rates and more supply coming to the market. But, don't expect real estate to depreciate.

Predictions are Hard

Home sales are very difficult to forecast. Be careful of reports comparing this current market to the same time last year, as 2020 was anything but a normal real estate market. 2019 may be a better market comparison (our last normal market).

Rates Remain Low

Mortgage Rates are hovering around 3% at the time of this writing (October 2021). Expect them to creep up over the next year, but they are projected to remain low compared to their long-term averages.

Ownership Helps Build Wealth

A homeowner who closed on a $350,000 purchase is projected to gain over $111,000 in equity over the next five years.

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