According to year-end data compiled into a report by Lattice Publishing, Columbus landed in 9th place in the US for the largest cities with the hottest housing markets. While the national housing market showed signs of cooling off over the past several months, Columbus still saw a 6.4% year-over-year median sales price increase over 2021.
“Despite the cooling in the real estate market, some geographies continued to see relatively high levels of activity in 2022,” explained Jonathan Jones, senior researcher and data journalist for Construction Coverage, where the report was published. “Prices have been leveling out in many parts of the U.S., but certain states have continued to have higher numbers of homes selling above list price.”
The median sale price in Columbus in 2022 was $259,695 — an amount well below many other cities high on the hot housing market list, including Oakland ($906,959), San Jose ($1,330,942) and Seattle ($844,285).
Other Ohio cities were a mixed bag. Cities that saw median home values rise included Cincinnati (+5.0%), Cleveland (+4.5%) and Dayton (+2.0%), while declines were found in Akron (-6.7%) and Toledo (-18.2%).
To view the full report, visit constructioncoverage.com.