The Columbus, OH metro area housing market in February 2025 presents a complex landscape with varying trends across different metrics. The Median Sales Price for homes stands at $320,000, reflecting a modest year-over-year increase of 0.3%. In contrast, the Median List Price has risen significantly by 7.2% to $348,500, indicating a potential gap between seller expectations and buyer willingness.

Price Per Square Foot metrics also show upward movement, with the median Price Per Square Foot at $191.32, up 3.4% from the previous year. The Median List Price per square foot has increased by 4.2% to $197.19, suggesting that sellers are pricing homes higher per square foot compared to last year.

Sales activity has experienced a downturn, with the number of Homes Sold decreasing by 9.8% year-over-year to 1,587 units. However, Pending Sales have seen a slight increase of 0.6%, totaling 2,169, which may indicate a potential rebound in the coming months. New Listings have decreased by 6.6% to 1,953, contributing to a tighter market.

Inventory levels have risen by 13.3% to 4,300 homes, providing more options for buyers. The Months of Supply have increased significantly by 50% to 2.7 months, suggesting a shift towards a more balanced market. Despite this, the Median Days on Market have increased by 8% to 54 days, indicating that homes are taking longer to sell.

The average sale to list ratio has slightly decreased by 0.4% to 98.9%, while the percentage of Homes Sold above list price has dropped by 3.3% to 29.3%. This suggests that buyers are negotiating more effectively, and sellers may need to adjust their expectations. Price Drops have increased by 3.7% to 21.9%, further indicating a potential softening in seller pricing power.

Finally, the percentage of homes going off the market within two weeks has decreased by 8.7% to 46.7%, reflecting a slower pace in the market. Overall, the Columbus housing market in February 2025 shows a mix of rising prices and slowing sales, with increased inventory and longer market times pointing towards a more balanced environment.