In 2024, amid notable shifts in the real estate landscape nationwide, Columbus, Ohio emerges as a flourishing market. With a median home listing price of $360,000 as of December 2023, Realtor.com recognizes Columbus as one of Winter 2024’s top emerging housing markets.
People who choose to settle down in Columbus will enjoy several lifestyle advantages, including reduced commute times. Also, PayScale’s latest data shows that the city’s cost of living sits 10% below the national average in the United States, with housing costs being 20% less, while utilities and grocery expenses are 7% and 3% below, respectively.
According to Rocket Homes, Columbus continues to be a seller’s market. Since March 2023, the median sold price for a home has increased by 7.3%. However, as 2024’s first quarter wraps up, the inventory of available real estate in Columbus is steadily expanding. 3,542 homes were for sale in February, a figure that climbed to 3,759 in March. This uptick in available homes correlates with a 6.1% rise in sales between February and March.
All things considered, it’s reasonable to anticipate that Columbus will continue to evolve into an increasingly desirable city for homebuyers. Those looking to capitalize on an emerging market with budget-friendly pricing would be wise to strike while the iron is hot.
