The median home price soared to a new record of $330,000 in May, representing a substantial 2.3% year-over-year increase. This also marked a noteworthy 3% surge from just the previous month of April 2024.

For example, in Granville, there were 28 homes for sale in April over $500k a rise of 73% vs 2023 with an absorption rate (or months of supply) of 6.6. Compare Granville with New Albany where there were 25 homes over $500k for sale but only a 2.6 absorption rate due to higher sales volume.

The median price rose 3.6% MOM in March to $300k and 90% of Central Ohio school districts are seller's markets. In March, new listings for homes under $300k decreased by 7% compared to last year, while homes over $300k saw an 8% increase.

As construction progresses on the massive Intel Gigafactory, our rural community is witnessing an influx of over 20,000 construction workers seeking accommodation, accentuating the existing housing shortage dilemma. Central Ohio's active listings for homes have continued to slide over the past decade.