In Downtown Columbus, ZIP code 43215, the asking price on a condo listing is usually not the price it sells for. In September 2026, sellers received 94.8% of their original list price on average, according to the Columbus REALTORS local market update for Downtown Columbus. Measured against the last list price before the sale, they received 98.1%. So the discount comes from price reductions while the unit sits on the market. Once a buyer finally makes an offer, the gap is small.

The same report shows a median sales price up 78.4% from a year earlier. The median is driven by a very small number of sales. The price cuts, the time on market and each unit's property tax status are what decide a downtown condo's actual cost this fall.

Every Other Line in the Report Favors Buyers

The figures below come from the September 2026 report, current as of October 8 and released by Columbus REALTORS on October 13, 2026. It is the latest full monthly snapshot for the ZIP code.

Days on market more than doubled. Homes in contract fell 44%. New listings came to market with a median asking price 9.6% lower than a year earlier. Months of supply stayed at 7.6, meaning it would take more than seven months to sell every listed home at the current pace. All of that points to the leverage buyers have this fall. For comparison, the Short North Area report for 43201 showed 4.1 months of supply and 56 days on market for the same month. That is a noticeably tighter market for anyone comparing the two areas.

Downtown is also slowing on volume. Condo sales through September 2026 totaled 131, down 18.1% from 160 at the same point in 2025.

Why the Median Jumped Anyway

Thirteen of the 14 downtown sales in September 2026 were condos. The median of 14 sales is the midpoint between the seventh and eighth prices. Swap a few smaller units for a few larger ones and that midpoint can move by six figures without any one unit changing in value. The report itself warns that its percent changes "can sometimes look extreme due to small sample size."

Price per square foot shows what space actually cost. In September 2026 it averaged $282.96, up 4.8% from a year earlier, while the median rose 78.4%. For January through September 2026, average price per square foot was $314.18, down 1.4% from $318.67 over the same period in 2025. The September sales skewed toward bigger or pricier units. On a per-foot basis, downtown space cost about the same in 2026 as it did in 2025.

That changes how to read an asking price. Here is the math on a hypothetical unit listed at $400,000. At the September average of 94.8% of original list price, it closes near $379,200, and most of that gap comes from reductions made while the unit sat unsold. Paying the first asking price on a downtown condo this fall usually means paying more than buyers who waited a few weeks.

The Tax Bill Matters as Much as the Price

The purchase price is only part of what a downtown condo costs each month. Many downtown and Short North condos have carried City of Columbus residential tax abatements. Under the city's residential tax incentive program, owners keep paying taxes on the pre-improvement value, and the exemption covers only the improved value as determined by the Franklin County Auditor.

Those exemptions end, and when they do the tax bill can jump. WOSU reported in January 2020 that abatements on the Jackson on High, a Short North condo building finished in 2010, had expired at the end of 2019. The station noted that such agreements typically ran 10 to 15 years. Downtown, The Columbus Dispatch reported in March 2023 that as abatements ended on some of the most exclusive condominiums, annual taxes that had been in the hundreds of dollars rose 10 or even 20 times. The paper reported that dozens of owners then listed their units for sale.

Abatement end dates differ from building to building and sometimes from unit to unit. The LeVeque Tower at 50 West Broad Street shows the range. In April 2025, The Dispatch reported that Kaufman Development planned to convert the tower's 69 apartments to condominiums and sell them as leases expired over the following 18 months, at prices from $240,000 to $650,000. Separately, penthouse #3602, a two-story, 2,096-square-foot unit on the 36th and 37th floors, went to auction in August 2026 with a 100% tax abatement running through December 31, 2032, NBC4 reported. Bidding opened at $580,000 and closed August 6 at $608,999 after 21 bids, according to The Dispatch. That works out to about $291 per square foot, close to downtown's 2026 averages, for a unit with more than six years of abatement left.

Two condos listed at the same price can therefore have very different monthly costs.

1. Is the abatement still active? A unit near the end of its term carries a much larger tax increase than one with years remaining.
2. When does it end? The end date tells a buyer how many years of the current tax bill they actually get.
3. What is the full tax figure afterward? The Franklin County Auditor determines the exempted value, so the county record is where the post-abatement figure comes from.

In a market with 7.6 months of supply, an abatement ending soon is a fair subject for negotiation, because the next buyer will weigh it too.

The Building Can Affect the Loan

Downtown condo buyers are also financing a share of the building. Fannie Mae's Condo Project Status Finder explains that the whole condo project matters for conventional financing, including the condition of shared elements, the association's finances and the master insurance policy. When a project falls short of those requirements, loans on its units are not eligible for sale to Fannie Mae. Fannie Mae does not publish its project decisions and directs buyers to ask their lender or the homeowners association.

This compounds the slowdown. A building where conventional financing is harder to get draws fewer buyers, which tends to keep its units on the market longer, which leads to more price cuts. Asking a lender about the project early in a search can also help explain why a particular listing has been sitting.

Franklin County Values Change in December

There is one more timing factor. The Franklin County Auditor's 2026 Property Value Update covers every parcel in the county. The auditor reported in June that preliminary residential values were up about 10% on average countywide. According to the auditor's Know Your Home Value site, final values are expected on the Property Search page with notices mailed by mid-December 2026, and owners who disagree can file with the Board of Revision by March 31, 2027.

So the tax figure on any downtown listing today reflects pre-update values. For an abated unit, the abatement end date and the new valuation together set the tax bill a buyer will eventually pay.

Frequently Asked Questions

Did Downtown Columbus condo prices really rise 78% this year? No. That figure compares the September 2026 median with September 2025, based on 14 and 15 sales. Average price per square foot for January through September 2026 was down 1.4% from the same period in 2025.

How does Downtown compare with the Short North right now? In September 2026, Downtown had 7.6 months of supply and 67 days on market. The Short North Area had 4.1 months and 56 days. Downtown buyers generally have more time and more listings to choose from.

Where can I see a specific unit's value and tax status? The Franklin County Auditor's Property Search page is where final 2026 values will appear. The auditor is also the office that determines abated value under the city's program.

This post is general information, not legal, tax or financial advice. Please confirm abatement terms, tax estimates and loan eligibility with the right professional before you make an offer.

Michelle Balzer can review each listing's price history, abatement end date and building with you for every unit you're considering. Schedule a personal market consultation.