The Columbus, Ohio housing market is experiencing a notable shift in 2025, marked by a surge in new listings and a significant increase in available inventory. This change is providing buyers with more options and easing the intense competition that has defined the market in recent years.
Key Market Changes
- New listings in Columbus are up 28.1% year over year, and total inventory has climbed 37%.
- The median home price is currently around $275,000, reflecting a modest year-over-year increase of 3.2%.
- Homes are selling at a median price of $192 per square foot, with an average of 29–39 days on the market, depending on the source.
- While more homes are available, the pace of sales has not accelerated. Pending new home sales have turned slightly negative in recent weeks, with only a 0.7% year-over-year gain in new contracts.
- Home price appreciation has slowed, dropping from 6% in winter to 2.9% recently, indicating that the increased inventory is softening the market.
Market Balance and Buyer Power
The Market Action Index (MAI), which measures the balance of power between buyers and sellers, has dropped from a peak of 91 in May 2022 to 49 in 2025. While this still signals a seller’s market, it is a marked improvement for buyers, who now face less competition and can be more selective in their home search.
“Our inventory is probably about as high as it’s been since before COVID. That’s why buyers are being a little more picky on what they’re purchasing now. Because the market is less competitive and inventory has grown, there’s not quite as much fear of missing out.” – Brad Shields, Columbus Redfin agent
Tariffs and Construction Costs: A Looming Challenge
Nationally, the housing market is also grappling with the effects of new tariffs on construction materials. The Trump administration has imposed a 10% blanket tariff on all imports, a 25% levy on steel and aluminum, and a 145% tariff on materials from China. China alone supplies about 27% of the materials used in homebuilding.
- These tariffs are expected to increase construction costs by 4–10%, potentially adding $7,500–$17,000 to the price of a new home.
- Higher building costs could slow the pace of new construction, further constraining supply and possibly putting upward pressure on prices in the longer term.
- So far, the impact in Columbus has been muted, but both buyers and sellers are more cautious and aware of the potential for higher costs and economic uncertainty.
Outlook for Columbus
Despite the recent softening, Columbus remains one of the most resilient and affordable housing markets in the Midwest. Strong economic fundamentals, steady population growth, and continued investment in sectors like technology and healthcare are expected to support ongoing demand.
- Inventory is projected to continue rising modestly in 2026, especially in suburban areas, but the market is likely to remain slightly tilted in favor of sellers due to ongoing demand.
- Home prices are forecast to rise steadily by 2.8% to 4.5% annually, maintaining Columbus’s reputation for stability and long-term value.
- The rental market is also expected to stay strong, with low vacancy rates and moderate rent increases.
| Indicator | 2025 Value/Trend | Year-over-Year Change |
|---|---|---|
| New Listings | Up 28.1% | +28.1% |
| Inventory | Up 37% | +37% |
| Median Sale Price | $275,000 | +3.2% |
| Median Price per Sq. Ft. | $192 | +5.5% |
| Days on Market | 29-39 Days | +4 Days |
| Market Action Index (MAI) | 49 | Down from 91 (2022) |
| Pending Sales | +0.7% YoY | Flat |
| Construction Cost Impact | +4–10% (tariffs) | Up |
Conclusion
Columbus is transitioning from an overheated seller’s market to a more balanced environment, giving buyers greater choice and leverage. While tariffs and rising construction costs pose risks for affordability and supply in the long term, the city’s solid economic base and relative affordability should continue to make it an attractive destination for homebuyers and investors alike.