It Feels Like a Buyer's Market. So Why Is Central Ohio Still a Seller's Market?
By Amy Warren, Ohio REALTOR®
I've had this exact conversation a few times this month: "I keep hearing buyers have more leverage right now, so why did that house in Powell still get multiple offers the first weekend?"
It's a fair question, and it comes from real headlines. Mortgage rates have eased for two weeks running, inventory nationally is the highest it's been in years, and plenty of markets around the country genuinely have shifted in buyers' favor. Central Ohio just isn't one of them yet. Here's the data behind why both things are true at the same time.
First, What "Months of Supply" Actually Measures
Months of supply is the number that separates a buyer's market from a seller's market. It answers a simple question: at the current pace of sales, how long would it take to sell every home currently listed?
Below 4 months of supply:favors sellers
4 to 6 months of supply:a balanced market
Above 6 months of supply:favors buyers
Ohio has sat below that 4-month threshold for years, though it's been gradually inching toward balance. That's the number to watch, more than headlines about national inventory or rate direction.
The Central Ohio Numbers Right Now
Here's where it gets counterintuitive. Central Ohio's active inventory hit6,193 single-family homes and condos in July 2026, the highest July inventory level the region has seenin over a decade, according to the Central Ohio Housing Report from Columbus REALTORS®. The median sale price climbed to$350,000, up 2.3% year over year.
You'd think that much added inventory would tip the market toward buyers. It hasn't. Months of supply still sits at just2.4 months, comfortably in seller's-market territory. More homes came on the market, and buyers absorbed nearly all of them at a similar pace.
Why More Inventory Didn't Flip the Market
A few things are happening at once, and none of them are unique to any one type of buyer or seller.
Columbus is bucking the national slowdown, not following it.While national pending sales dropped sharply in July and several Sun Belt metros like Las Vegas and Tampa have fully tipped into buyer's-market territory, Columbus posted rising new listings and rising signed contracts at the same time, one of a small handful of Midwest metros doing both. I broke down exactly why in The National Housing Market May Have Peaked. Columbus Hasn't.The short version: relative affordability compared to the Sun Belt and coasts keeps drawing buyers here even while other markets soften.
Falling rates are adding fuel, not slack.The 30-year fixed rate has now dropped for two consecutive weeks, from 6.69% in early August to 6.65% as of the August 20, 2026 Freddie Mac survey. Lower rates typically bring sidelined buyers back into the market faster than they bring new sellers to list, which tightens competition rather than loosening it.
A rise in inventory isn't the same as a glut.Some of this year's added supply reflects the mortgage rate lock-in effect easing very slightly, more homeowners with low rates deciding life circumstances outweigh the cost of a new mortgage. I go deeper on that math in The 2.5% Mortgage Problem. But easing slightly off a multi-year low still isn't the same as enough supply to meet demand.
Well-priced homes are still moving fast.Central Ohio homes are still averaging right around 2 offers each, largely unchanged from a year ago, even as the national conversation shifts toward buyer leverage.
What This Means If You're a Buyer
You do have more to choose from than you did a year ago, and that's genuinely useful. Take advantage of it by touring seriously, getting pre-approved before you fall in love with a specific address, and using the added inventory to be selective about condition and location. Just don't assume "more listings" means "less competition" on the homes that are actually priced right. Those homes, especially in popular pockets like Powell, Dublin, and Plain City, are still drawing multiple offers.
What This Means If You're a Seller
Don't let national buyer's-market headlines talk you into underpricing your home. Central Ohio's fundamentals are stronger than the national story you're seeing on the news. That said, more inventory does mean your home needs to show well and be priced accurately from day one. A seller's market with more competition among sellers still rewards the homes that are staged, priced, and marketed the best.
Frequently Asked Questions
Is Central Ohio a buyer's market or a seller's market right now?
Still a seller's market. Months of supply sits at about 2.4 months as of July 2026, well below the 4-to-6-month range that defines a balanced market, even though local inventory just hit its highest July level in over a decade.
If inventory is up, why are homes still getting multiple offers?
Rising inventory increased the number of homes for sale, but buyer demand has kept pace with it, partly because Central Ohio is bucking the national slowdown and partly because falling mortgage rates are bringing more buyers back into the market. Well-priced homes in popular areas are still drawing several offers.
What does "months of supply" actually mean?
It's an estimate of how long it would take to sell every home currently on the market at the current sales pace. Below 4 months favors sellers, 4 to 6 months is considered balanced, and above 6 months favors buyers.
Why is Central Ohio different from national housing headlines?
Much of the national buyer's-market narrative is driven by Sun Belt metros like Las Vegas and Tampa, where overbuilding and slowing in-migration have pushed inventory up sharply. Columbus and other Midwest metros are seeing the opposite: rising listings paired with rising signed contracts, driven largely by relative affordability.
Want a Read on Your Specific Neighborhood?
National headlines and local reality can both be true at once, they're just measuring different markets. If you want to know exactly where your neighborhood or price range stands,reach outand I'll pull the current numbers for you.
Amy Warren is a licensed Ohio REALTOR® serving buyers and sellers across Plain City, Dublin, Powell, and Central Ohio. She started her real estate career in 2016 as a Transaction Coordinator in Denver, where she helped close over 650 transactions before relocating to Central Ohio in 2022 and earning her Ohio license in 2025. Visitamywarrenohiorealtor.com.
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