Is Genoa, 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, Genoa has remained a Seller's Market.
Key Takeaway
Genoa is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Genoa, OH
How much do homes in Genoa, OH cost?
Median Sold Price
$175,000
$125/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Genoa have sold for 3.9% more than they did a year ago.
Summary: The median home sold price in Genoa was $175,000 in May 2024, up 3.9% from last year, and the median price per square foot was $125.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $70K | - | N/A |
| 2 Bedrooms | $165K | $155K | -6.1% |
| 3 Bedrooms | $173K | $174.2K | +0.7% |
| 4 Bedrooms | $194.2K | $197.5K | +1.7% |
| 5+ Bedrooms | $110.5K | $279K | +152.5% |
Summary: Genoa 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 decreased by 6.1%, 3 bedroom homes increased by 0.7%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 152.5%.
Median Sold Price Compared To Nearby Cities
| Genoa | $168.5K | $175K | +3.9% |
| Clay Township | $173K | $170K | -1.7% |
Housing Supply in Genoa, OH
How many homes are available in Genoa, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 8 | -27.3% |
Summary: The Genoa real estate market had 8 homes for sale in May 2024, a 27.3% decrease 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 | 2 | 1 | -50.0% |
| 3 Bedrooms | 9 | 5 | -44.4% |
| 4 Bedrooms | 0 | 2 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Genoa 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 50%, 3 bedroom homes decreased by 44.4%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 4 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Genoa, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Genoa in May 2024, down by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Genoa, OH
How long does it take to sell a home in Genoa, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 81 Days | 41 Days | -48.8% |
Summary: Homes in Genoa had an average of 41 days on market in May 2024, down by 48.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Genoa has remained consistent over time.
Summary: During May 2024, 4 homes were sold in Genoa; 25% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Copyright 2024 NORIS. All rights reserved. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of the NORIS MLS. Real estate listings held by brokerage firms other than this brokerage are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. This broker participates in Northwest Ohio Real Estate Information Systems, Inc. Broker Reciprocity program, allowing us to display other broker’s listings on our site.