As we move closer to Thanksgiving and the end of the year, the Columbus housing market is sending mixed signals — and that’s exactly why many homeowners and buyers are feeling confused.
Mortgage rates have come down from their highs earlier this year, but they’ve settled into a familiar range. Inventory remains elevated. Homes are selling — but not always quickly. And buyers are being far more selective than they were just a few years ago.
Here’s what’s actually happening on the ground in Central Ohio right now.
Mortgage Rates: Down From the Peak, But Holding Steady
According to mortgage expert Rich Cercone of Equitable Mortgage, rates have been sitting in the low 6% range for roughly the last 60 days. In some specific scenarios — strong credit, lower loan amounts, favorable loan-to-value ratios — buyers can still see rates in the high 5s.
But for most buyers, the market is in a holding pattern.
Why aren’t rates dropping further?
Mortgage loans are bundled into massive pools and sold to institutional investors. Right now, there simply aren’t many investors eager to buy 4%–5% mortgage-backed securities. In the past, the Federal Reserve filled that gap through quantitative easing, but they’ve stepped away from that role.
Without that major buyer, rates stay higher to attract demand.
A Truly Balanced Market Has Returned
This is no longer a frenzy — but it’s also not a buyer’s market.
Dave Barlow described today’s environment as a balanced market, and the data supports that:
- Roughly 5,700 active listings
- About 3,100 homes currently in contract
- Roughly a 2-month supply of inventory
That still gives sellers a slight edge, but nowhere near the extreme conditions of 2020–2021.
What’s Selling — and What’s Sitting
Across Columbus and its suburbs, the pattern is clear:
Homes that are selling:
- Clean, well-maintained homes
- Updated or move-in ready properties
- Correctly priced for condition and location
Homes that are sitting:
- Properties needing updates or repairs
- Homes priced at or above top-of-market despite condition
- Listings expecting “COVID-era” urgency
Buyers today are willing to walk away. They aren’t afraid to lose a deal if the price doesn’t make sense.
Why Some Homes Need 30–80 Showings to Get an Offer
One of the biggest shifts this year is how much effort it takes to generate an offer.
In past markets:
- 6–8 showings often produced an offer
Now:
- 20, 30, even 80+ showings may be needed before the right buyer steps forward
That doesn’t mean demand is gone — it means buyers are cautious, selective, and data-driven. Homes still sell, but they require:
- Better pricing strategy
- Stronger negotiation
- Experienced agent guidance
Buyer Behavior Has Changed
Buyers shopping right now are serious — no one is touring homes in November “just for fun.” But they’re also disciplined:
- Firm price ceilings
- Willing to terminate after inspections
- Comfortable waiting if the numbers don’t work
This creates opportunity for prepared buyers — and challenges for sellers who aren’t positioned correctly.
The Bottom Line for Columbus Housing Market
The Columbus housing market hasn’t slowed down — it’s normalized.
Homes are still selling.
Prices are still rising modestly.
But strategy matters more than ever.
Whether you’re buying or selling, this market rewards:
- Accurate pricing
- Strong preparation
- Skilled negotiation
Thinking About Buying or Selling in the Columbus housing market?
If you’re thinking about buying or selling a home in Columbus or Central Ohio, now is the time to get expert guidance — not guess based on headlines.
Call Sell For 1% Realtors to learn how to sell your home for just 1% commission while still getting full service, expert marketing, and hands-on negotiation.
Have questions about mortgages, refinancing, or loan options? We can connect you with trusted local lenders like Rich Cercone at Equitable Mortgage.
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