Is Gahanna, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Gahanna has remained a Seller's Market.
Key Takeaway
Gahanna is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Gahanna, OH
How much do homes in Gahanna, OH cost?
Median Sold Price
$356,775
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Gahanna have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in Gahanna was $356,775 in May 2024, up 3.5% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $242.5K | $265K | +9.3% |
| 3 Bedrooms | $315K | $316.2K | 0.4% |
| 4 Bedrooms | $385K | $415K | +7.8% |
| 5+ Bedrooms | $450K | $535K | +18.9% |
Summary: Gahanna housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 18.9%.
Median Sold Price Compared To Nearby Cities
| Plain Township | $720K | $799K | +11.0% |
| Jefferson Township | $365K | $389.7K | +6.8% |
| Gahanna | $344.7K | $356.7K | +3.5% |
| Blacklick | $331.9K | $340K | +2.4% |
| Mifflin Township | $339.1K | $345K | +1.7% |
Housing Supply in Gahanna, OH
How many homes are available in Gahanna, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 87 | 117 | +34.5% |
Summary: The Gahanna real estate market had 117 homes for sale in May 2024, a 34.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 8 | -11.1% |
| 3 Bedrooms | 35 | 50 | +42.9% |
| 4 Bedrooms | 39 | 54 | +38.5% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Gahanna housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 42.9%, 4 bedroom homes increased by 38.5%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 32 | 42 | +31.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gahanna, you could pay more than the asking price. 59.5% of homes here sold above asking price last month.
Summary: A total of 42 homes were sold or pending in Gahanna in May 2024, up by 31.3% month-over-month. Of the 42 sold homes, 24% were sold under asking, 17% were sold at asking, and 60% were sold over asking.
Days on Market for Gahanna, OH
How long does it take to sell a home in Gahanna, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 5 Days | 20 Days | +267.9% |
Summary: Homes in Gahanna had an average of 20 days on market in May 2024, up by 267.9% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Gahanna are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 42 homes were sold in Gahanna; 83% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
The information is being provided by Columbus and Central Ohio Regional Multiple Listing Service. Information deemed reliable but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase.