Is London, 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, London has remained a Seller's Market.
Key Takeaway
London is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in London, OH
How much do homes in London, OH cost?
Median Sold Price
$306,000
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in London have sold for 14.3% more than they did a year ago.
Summary: The median home sold price in London was $306,000 in May 2024, up 14.3% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $204.9K | - | N/A |
| 2 Bedrooms | $171.2K | $201.5K | +17.7% |
| 3 Bedrooms | $258K | $312K | +20.9% |
| 4 Bedrooms | $322.5K | $329.9K | +2.3% |
| 5+ Bedrooms | $379.9K | $465.8K | +22.6% |
Summary: London 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 17.7%, 3 bedroom homes increased by 20.9%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 22.6%.
Median Sold Price Compared To Nearby Cities
| Union Township | $248.2K | $325K | +30.9% |
| London | $267.7K | $306K | +14.3% |
Housing Supply in London, OH
How many homes are available in London, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 58 | 70 | +20.7% |
Summary: The London real estate market had 70 homes for sale in May 2024, a 20.7% 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 | 7 | 10 | +42.9% |
| 3 Bedrooms | 34 | 40 | +17.6% |
| 4 Bedrooms | 13 | 13 | 0.0% |
| 5+ Bedrooms | 4 | 7 | +75.0% |
Summary: The London 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 42.9%, 3 bedroom homes increased by 17.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 75%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 20 | +33.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in London, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in London in May 2024, up by 33.3% month-over-month. Of the 20 sold homes, 40% were sold under asking, 35% were sold at asking, and 25% were sold over asking.
Days on Market for London, OH
How long does it take to sell a home in London, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 26 Days | 47 Days | +78.3% |
Summary: Homes in London had an average of 47 days on market in May 2024, up by 78.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in London has remained consistent over time.
Summary: During May 2024, 20 homes were sold in London; 40% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
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