The onset of high interest rates from record-low levels had many economists and housing experts predicting prices would crash. Instead, we have witnessed a continued increase in prices. As of June 2024, the median sales price for homes in Central Ohio rose by 3%, reaching $335,000.

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.