Is Bay Village, 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, Bay Village has remained a Seller's Market.
Housing Prices in Bay Village, OH
How much do homes in Bay Village, OH cost?
Median Sold Price
$376,250
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Bay Village was $376,250 in May 2024, up 10.7% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $115K | $181K | +57.4% |
2 Bedrooms | $260.6K | $320.5K | +23.0% |
3 Bedrooms | $290K | $312.9K | +7.9% |
4 Bedrooms | $420K | $487.5K | +16.1% |
5+ Bedrooms | $518.5K | $703K | +35.6% |
Summary: Bay Village housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 57.4%, 2 bedroom homes increased by 23%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 16.1%, and 5+ bedroom homes increased by 35.6%.
Median Sold Price Compared To Nearby Cities
Rocky River | $320K | $360K | +12.5% |
Bay Village | $340K | $376.2K | +10.7% |
Housing Supply in Bay Village, OH
How many homes are available in Bay Village, OH?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
56 | 69 | +23.2% |
Summary: The Bay Village real estate market had 69 homes for sale in May 2024, a 23.2% 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 | 3 | 6 | +100.0% |
3 Bedrooms | 20 | 28 | +40.0% |
4 Bedrooms | 23 | 24 | +4.3% |
5+ Bedrooms | 10 | 11 | +10.0% |
Summary: The Bay Village 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 increased by 100%, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 10%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
17 | 20 | +17.6% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Bay Village in May 2024, up by 17.6% month-over-month. Of the 20 sold homes, 20% were sold under asking, 10% were sold at asking, and 70% were sold over asking.
Days on Market for Bay Village, OH
How long does it take to sell a home in Bay Village, OH?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
22 Days | 10 Days | -50.6% |
Summary: Homes in Bay Village had an average of 10 days on market in May 2024, down by 50.6% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 20 homes were sold in Bay Village; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.