Is Rittman, 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, Rittman has remained a Seller's Market.
Key Takeaway
Rittman is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rittman, OH
How much do homes in Rittman, OH cost?
Median Sold Price
$185,000
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Rittman have sold for 23.3% more than they did a year ago.
Summary: The median home sold price in Rittman was $185,000 in May 2024, up 23.3% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $155K | N/A |
| 2 Bedrooms | $125K | $136K | +8.8% |
| 3 Bedrooms | $155K | $179.9K | +16.1% |
| 4 Bedrooms | $185K | $273.7K | +48.0% |
| 5+ Bedrooms | $270K | $290K | +7.4% |
Summary: Rittman 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 8.8%, 3 bedroom homes increased by 16.1%, 4 bedroom homes increased by 48%, and 5+ bedroom homes increased by 7.4%.
Median Sold Price Compared To Nearby Cities
| Rittman | $150K | $185K | +23.3% |
| Milton Township | $151.5K | $180K | +18.8% |
| Wadsworth Township | $255.2K | $287K | +12.4% |
| Chippewa Township | $245K | $263K | +7.3% |
Housing Supply in Rittman, OH
How many homes are available in Rittman, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 30 | 29 | -3.3% |
Summary: The Rittman real estate market had 29 homes for sale in May 2024, a 3.3% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 17 | 14 | -17.6% |
| 4 Bedrooms | 9 | 9 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Rittman housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 17.6%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 11 | +10.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rittman, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Rittman in May 2024, up by 10.0% month-over-month. Of the 11 sold homes, 55% were sold under asking, 9% were sold at asking, and 36% were sold over asking.
Days on Market for Rittman, OH
How long does it take to sell a home in Rittman, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 24 Days | 14 Days | -38.9% |
Summary: Homes in Rittman had an average of 14 days on market in May 2024, down by 38.9% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rittman are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in Rittman; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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