Is Independence, 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, Independence has remained a Seller's Market.
Key Takeaway
Independence is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Independence, OH
How much do homes in Independence, OH cost?
Median Sold Price
$310,000
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Independence have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in Independence was $310,000 in May 2024, up 6.9% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $220K | $203.5K | -7.5% |
| 3 Bedrooms | $246.5K | $290.9K | +18.0% |
| 4 Bedrooms | $375K | $411K | +9.6% |
| 5+ Bedrooms | $595K | $446.2K | -25.0% |
Summary: Independence 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 7.5%, 3 bedroom homes increased by 18%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes decreased by 25%.
Median Sold Price Compared To Nearby Cities
| Seven Hills | $255.2K | $290K | +13.6% |
| Independence | $290K | $310K | +6.9% |
Housing Supply in Independence, OH
How many homes are available in Independence, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 24 | +14.3% |
Summary: The Independence real estate market had 24 homes for sale in May 2024, a 14.3% 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 | 4 | 4 | 0.0% |
| 3 Bedrooms | 10 | 11 | +10.0% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Independence 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 remained the same, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 6 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Independence, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Independence in May 2024, the same as the previous month. Of the 6 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Independence, OH
How long does it take to sell a home in Independence, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 26 Days | 26 Days | +1.6% |
Summary: Homes in Independence had an average of 26 days on market in May 2024, up by 1.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Independence are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Independence; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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