Wondering if now is the right moment to buy or sell in Columbus? You are not alone. With shifting mortgage rates, more new construction in select suburbs, and varied demand across neighborhoods, it can be hard to read the market. In this guide, you will learn how to interpret the four signals that matter most and what those trends likely mean for your timing, strategy, and negotiation power. Let’s dive in.
The four signals to watch
Columbus real estate tends to move with four core metrics: inventory, days on market, price movement, and mortgage rates. Each one tells a part of the story. Together, they show you where the market is heading and how quickly changes might reach your block.
Inventory in Columbus
Inventory measures how many homes are for sale and how long that supply would last at the current sales pace. Many professionals read this as months of supply. Under three months often signals a seller’s market, four to six months is closer to balanced, and above six suggests a buyer’s market. Thresholds vary by price tier and property type.
In Columbus, inventory tightened during the pandemic and has been gradually recovering. You will likely notice two different patterns: more new single‑family homes in growing suburbs and constrained supply for renovated or infill properties near the urban core. Entry‑level single‑family homes and condos in popular neighborhoods can still feel tight even if the metro’s overall inventory improves.
What this means for you:
- If you are buying, rising inventory plus steady or slower sales typically creates more room to negotiate credits and keep contingencies.
- If you are selling, pricing to current demand and presenting your home well matter more as choices expand for buyers.
Days on market (DOM)
Days on market tells you how quickly homes go under contract. When DOM drops, demand is usually rising or pricing is very competitive. When DOM climbs, demand may be softening or listings may be missing the mark on price and presentation.
In central Columbus neighborhoods such as the Short North, German Village, and Victorian Village, well‑priced properties often see shorter DOM compared to many outer areas. In the suburbs, DOM can vary by lot size and features. Median DOM is the most useful snapshot because it reduces the effect of unusually long or short listings.
What this means for you:
- Buyers can watch DOM by price band. If homes under $300,000 start selling faster than those above $600,000, competition may be heating first at entry levels.
- Sellers can track DOM trends right before listing. If DOM is rising week over week, expect longer marketing times or plan for strategic price adjustments.
Price movement
Price movement shows up in several ways: median sale price, average sale price, year‑over‑year change, and price per square foot. Look at both short‑run changes and multi‑year trends to separate seasonal swings from bigger shifts.
Across the Columbus area, appreciation has not been uniform. Many growing suburbs and infill neighborhoods saw stronger gains, while some older areas or higher price tiers moved more slowly as buyers navigated rate changes. When prices rise quickly alongside low inventory and falling DOM, that typically points to a strong seller leaning market.
What this means for you:
- Buyers should study price trends specific to the neighborhoods and property types they are targeting. Mix changes can skew averages, so consider both median and price per square foot.
- Sellers benefit from fresh, hyperlocal comps and a pricing strategy that anticipates buyer sensitivity to rates.
Mortgage rates and affordability
Mortgage rates are the biggest short‑term lever on affordability. A one‑percentage‑point shift can change purchasing power by roughly 10 to 12 percent for the same monthly payment. First‑time buyers and low‑down‑payment buyers feel these changes the most, while cash buyers or those with large down payments are less sensitive.
Lower rates tend to bring more buyers back to the market. Entry‑level segments usually react first, then pressure spreads across price tiers if inventory remains tight. Rate locks matter once you are in contract, so plan your timing with your lender.
What this means for you:
- Buyers can run side‑by‑side scenarios at different rates to set a clear budget and decide when to lock.
- Sellers can anticipate stronger traffic when rates dip and prepare to compete more with new construction when rates rise.
How metro shifts show up in your neighborhood
Citywide numbers do not hit every neighborhood at once. The Columbus market often changes in stages, and the pattern can help you plan.
Timing and lag
Broad metro changes usually appear first in the outer suburbs where builders can add supply faster. You may see more active listings there, followed by a rise in days on market in mid‑priced neighborhoods. Price pressure tends to ease last in the urban core where infill supply is limited.
Price tiers move differently
Entry‑level homes and condos often respond fastest to rate shifts because they have the largest pool of active buyers. Higher‑end and luxury segments usually lag and depend more on local wealth trends, equity gains, and investment flows.
Housing type and lot size
Single‑family homes in suburbs are more sensitive to rate changes and commuting patterns because buyers compare them to new construction options. Condos and older urban homes have limited new supply, so lifestyle factors and financing rules can carry more weight.
School districts and micro‑markets
Neighborhoods within districts such as Dublin, Worthington, and Olentangy often see steady demand even when metro‑level conditions change. Micro‑markets near Ohio State University and major employers can follow their own cycles tied to academic calendars, rental demand, and commuting preferences.
Renovation vs. new construction
Renovated infill homes can sell quickly when inventory is tight because buyers value location and amenities. As supply loosens, buyers gain leverage and may ask for more concessions, even on polished urban listings. In the suburbs, sellers increasingly compete with builder incentives and quick‑move‑in options.
Neighborhoods to watch
- Urban core: Short North, Victorian Village, German Village. Demand is driven by walkability and amenities, and new supply is limited.
- Inner‑ring suburbs: Clintonville, Bexley, Upper Arlington. These areas often show steady demand with thoughtful pricing and presentation.
- Growing suburbs and exurbs: Powell, New Albany, Hilliard. New construction can expand choices quickly at certain price points, which influences days on market and concessions.
What to watch next: a simple checklist
Use this quick list to keep your finger on the pulse of the Columbus market:
- Months of supply in your price band and neighborhood
- New listings versus pending sales over the last 30 to 60 days
- Median days on market, and whether it is rising or falling
- Median sale price and price per square foot compared to last year and three years ago
- Mortgage‑rate trend over the last three to six months
- Percent of list price received in your area
If possible, compare current figures to both the 12‑month average and the last three years. That helps you see beyond seasonal ups and downs.
Practical moves for buyers and sellers
If you are buying
- Track inventory by neighborhood and price tier. Rising supply plus rising DOM often equals more negotiating power.
- Watch rates weekly, not daily. Set a lock strategy with your lender when you write an offer.
- Prepare your offer approach by market segment. Under competition, consider escalation clauses and appraisal strategies. In slower pockets, maintain inspection and financing protections.
- Focus on fundamentals that support future resale: location, condition, and layout that fits common needs.
If you are selling
- Price to today’s demand. If DOM is trending up, plan for longer marketing times or targeted price adjustments.
- Time your listing to seasonal traffic, but stay open to windows created by rate dips.
- Showcase your edge against new construction when relevant. Professional staging, clear maintenance records, and compelling photography shorten DOM.
- Offer data‑driven comps and a clean disclosure package to build buyer confidence in a higher‑rate environment.
When to act vs. wait
Your timing should match both market signals and personal goals. Use these cues as guideposts.
Consider moving now if:
- You face a job change or a lifestyle shift that matters more than minor price swings.
- Local supply in your segment is tightening and comparable homes are selling faster.
- You have a strong equity position and a clear next‑home plan.
Consider waiting if:
- Inventory is rising in your micro‑market and median DOM is lengthening.
- Mortgage rates are trending lower and you want to expand your budget or buyer pool.
- You need time to prepare the property for best presentation and net proceeds.
Always weigh tax considerations, financing, and personal timelines. Perfect timing is rare. Clear strategy is achievable.
Work with a local advisor
Reading the market is one part art and one part data. You deserve a team that brings both. The Anne DeVoe Group combines deep Upper Arlington and central Ohio expertise with polished marketing, staging, and concierge‑level transaction management. Sellers benefit from custom campaigns, professional photography and video, and vendor coordination that highlights your home’s strengths. Buyers gain curated access, including private and off‑market opportunities, plus calm, step‑by‑step guidance from search to close.
Ready to plan your move with clarity and confidence? Connect with Anne DeVoe to schedule a free consultation.
FAQs
Are Columbus home prices still rising?
- It depends on timeframe and neighborhood. Some areas recorded year‑over‑year gains through recent periods, but rates and inventory shape the pace. Compare median price and price‑per‑square‑foot trends for your target area.
How many months of inventory is considered normal in Columbus?
- Under three months often favors sellers, four to six is closer to balanced, and more than six leans toward buyers; check your price tier and neighborhood for a more accurate read.
Will lower mortgage rates push prices up right away?
- Lower rates usually bring more buyers back first in entry‑level segments, then across the market if inventory remains tight; price effects often lag increased demand.
Should I wait for a recession or rate drop to buy in Columbus?
- Personal factors like job stability, timing, and rent versus buy costs often matter more than perfect market timing; use rate locks and lender guidance to manage volatility.
How much room is there to negotiate right now?
- It varies by neighborhood and price band. In softer pockets, expect more credits or concessions; in tight areas, full‑price or over‑asking offers are still common. Track median DOM and percent of list price received.
