Is Munroe Falls, 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, Munroe Falls has remained a Seller's Market.
Key Takeaway
Munroe Falls is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Munroe Falls, OH
How much do homes in Munroe Falls, OH cost?
Median Sold Price
$251,500
$138/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Munroe Falls have sold for 10.9% more than they did a year ago.
Summary: The median home sold price in Munroe Falls was $251,500 in May 2024, up 10.9% from last year, and the median price per square foot was $138.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $179.8K | $220K | +22.3% |
| 3 Bedrooms | $220K | $237.9K | +8.1% |
| 4 Bedrooms | $259.5K | $335K | +29.1% |
| 5+ Bedrooms | $247.5K | $370K | +49.5% |
Summary: Munroe Falls 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 22.3%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 29.1%, and 5+ bedroom homes increased by 49.5%.
Median Sold Price Compared To Nearby Cities
| Cuyahoga Falls | $189.2K | $210.9K | +11.5% |
| Munroe Falls | $226.7K | $251.5K | +10.9% |
| Stow | $250.2K | $260K | +3.9% |
| Tallmadge | $251.1K | $260K | +3.5% |
Housing Supply in Munroe Falls, OH
How many homes are available in Munroe Falls, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 15 | +7.1% |
Summary: The Munroe Falls real estate market had 15 homes for sale in May 2024, a 7.1% 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 | 1 | 2 | +100.0% |
| 3 Bedrooms | 8 | 11 | +37.5% |
| 4 Bedrooms | 5 | 2 | -60.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Munroe Falls 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 37.5%, 4 bedroom homes decreased by 60%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Munroe Falls, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Munroe Falls in May 2024, up by 28.6% month-over-month. Of the 9 sold homes, 22% were sold under asking, 11% were sold at asking, and 67% were sold over asking.
Days on Market for Munroe Falls, OH
How long does it take to sell a home in Munroe Falls, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 29 Days | 29 Days | -0.2% |
Summary: Homes in Munroe Falls had an average of 29 days on market in May 2024, down by 0.2% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Munroe Falls are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Munroe Falls; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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