With December 2021's housing data officially in the books, the Columbus Realtors Multiple Listing Service has released its end-of-the-year analysis.
Another 2,897 homes were sold in central Ohio last month capping off a record-setting 2021. Home prices and sales reached record highs while inventory and market time set record lows. Analysts with Columbus Realtors say an intense demand for homes in the region combined with pandemic-driven changes to housing needs and preferences resulted in multiple offers on a limited number of homes sending prices significantly higher for the year. On average, sellers received 102.2 percent of their last list price at sale, up 2.4 percent from 2020.
So what's ahead for this year?
“The ongoing pandemic makes it difficult to predict what housing activity will look like in 2022,” Columbus Realtors president Sue Van Woerkom said. “Many economists are forecasting that mortgage rates will rise slightly this year, so housing affordability will remain an important factor to watch. But we’re optimistic. Our strong job and economic climate continues to attract folks to central Ohio. And our builders are working feverishly to help provide more housing.”
And though not record-setting, the statewide housing market remained resilient in 2021 according to Ohio Realtors. The group says sales activity, average sales price and total dollar volume all surpassed 2020's levels.
