Columbus Ohio Housing Inventory Up 28% Year-Over-Year

Columbus, Ohio metro housing inventory rose 28% year-over-year in March as listings continued to normalize from pandemic-era lows and some price moderation emerged. Active listings reached 4,620 at the end of March, per Columbus REALTORS data, up from 3,614 in March 2025.

The metro's median sale price stood at $342,000 in March, up 2.4% year-over-year. The rate of appreciation slowed from 5.1% in March 2025 and the 7.2% recorded in March 2024. Columbus REALTORS president Sara Walsh said the data "suggests a more balanced market" compared with the seller-dominant conditions of recent years.

Months of inventory ticked up to 2.4 from 1.9 a year earlier, still well below the four-to-six-month range that analysts consider balanced. Median days on market extended slightly to 28 from 22. Homes continued to sell at an average of 99.7% of asking price, compared with 100.4% a year earlier.

Price dynamics varied by submarket. The Clintonville and Short North neighborhoods posted year-over-year gains of 5 to 7%, supported by continued owner-occupant demand. Suburban submarkets including Dublin, Westerville, and Hilliard saw appreciation of 2 to 4%. The New Albany area, which had led metro appreciation through 2024, slowed to 1.8% growth.

The Intel semiconductor campus under construction in New Albany continues to shape long-term demand expectations. Intel's groundbreaking in 2022 and subsequent project delays have created ongoing uncertainty for pre-construction buyers in the surrounding submarket. The company in April confirmed that initial fabrication facility operations would begin in 2028, with full workforce buildout extending into 2030.

Ohio State University-area submarkets showed continued strength. The Clintonville and University District neighborhoods recorded median prices above $380,000, with condo stock near the campus averaging $285,000. The combination of OSU's stable student enrollment and continued research facility expansion has supported demand in these areas.

New construction activity continued its measured pace. Central Ohio Building Industry Association reported 2,340 single-family permits issued in the metro during Q1, roughly flat year-over-year. Homebuilders including M/I Homes, Drees Homes, and NVR maintained active Columbus operations while moderating absolute production volumes in response to demand conditions.

Rental conditions have remained balanced. Apartment List placed the median asking rent in Columbus at $1,168 in March, down 0.4% year-over-year. Multifamily construction deliveries of 2,900 units in 2025 absorbed demand without triggering significant concession usage. The Class A segment continued to hold 95% occupancy in established properties.

Looking ahead, economists at the Ohio State University Fisher College of Business project Columbus metro home price growth of 3.5% for full-year 2026, modestly slower than the 4.2% posted in 2025. Continued population in-migration and Intel-related employment growth will support demand, while expanding inventory provides modest downward pressure on appreciation rates.