Is Medina Township, 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, Medina Township has remained a Seller's Market.
Key Takeaway
Medina Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Medina Township, OH
How much do homes in Medina Township, OH cost?
Median Sold Price
$350,000
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Medina Township have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Medina Township was $350,000 in May 2024, up 7.7% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $190K | $204.7K | +7.8% |
| 3 Bedrooms | $299K | $320K | +7.0% |
| 4 Bedrooms | $388.3K | $419K | +7.9% |
| 5+ Bedrooms | $562.5K | $581K | +3.3% |
Summary: Medina Township 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 7.8%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 3.3%.
Median Sold Price Compared To Nearby Cities
| Granger Township | $425K | $515K | +21.2% |
| Medina City Township | $245.7K | $280K | +13.9% |
| Medina Township | $325K | $350K | +7.7% |
| Medina | $325K | $350K | +7.7% |
| Montville Township | $450K | $436.5K | -3.0% |
Housing Supply in Medina Township, OH
How many homes are available in Medina Township, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 185 | 196 | +5.9% |
Summary: The Medina Township real estate market had 196 homes for sale in May 2024, a 5.9% 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 | 13 | 13 | 0.0% |
| 3 Bedrooms | 85 | 79 | -7.1% |
| 4 Bedrooms | 73 | 84 | +15.1% |
| 5+ Bedrooms | 14 | 20 | +42.9% |
Summary: The Medina Township 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 decreased by 7.1%, 4 bedroom homes increased by 15.1%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 58 | 65 | +12.1% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Medina Township, you could pay more than the asking price. 49.2% of homes here sold above asking price last month.
Summary: A total of 65 homes were sold or pending in Medina Township in May 2024, up by 12.1% month-over-month. Of the 65 sold homes, 29% were sold under asking, 22% were sold at asking, and 49% were sold over asking.
Days on Market for Medina Township, OH
How long does it take to sell a home in Medina Township, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 13 Days | 23 Days | +77.5% |
Summary: Homes in Medina Township had an average of 23 days on market in May 2024, up by 77.5% compared to last year.
Breakdown of Home Sale Times
48 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Medina Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 65 homes were sold in Medina Township; 74% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
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