Is Oberlin, 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, Oberlin has remained a Seller's Market.
Key Takeaway
Oberlin is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oberlin, OH
How much do homes in Oberlin, OH cost?
Median Sold Price
$235,000
$124/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Oberlin have sold for 8.2% more than they did a year ago.
Summary: The median home sold price in Oberlin was $235,000 in May 2024, up 8.2% from last year, and the median price per square foot was $124.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $187K | N/A |
| 2 Bedrooms | $158.7K | $196.5K | +23.8% |
| 3 Bedrooms | $214.5K | $226.5K | +5.6% |
| 4 Bedrooms | $226.8K | $247.5K | +9.1% |
| 5+ Bedrooms | $255K | $335K | +31.4% |
Summary: Oberlin 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 23.8%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 31.4%.
Median Sold Price Compared To Nearby Cities
| Pittsfield Township | $255K | $312.7K | +22.7% |
| Oberlin | $217.2K | $235K | +8.2% |
Housing Supply in Oberlin, OH
How many homes are available in Oberlin, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 33 | 34 | +3.0% |
Summary: The Oberlin real estate market had 34 homes for sale in May 2024, a 3.0% 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 13 | 12 | -7.7% |
| 4 Bedrooms | 12 | 13 | +8.3% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Oberlin 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 7.7%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 14 | +250.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oberlin, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Oberlin in May 2024, up by 250.0% month-over-month. Of the 14 sold homes, 43% were sold under asking, 21% were sold at asking, and 36% were sold over asking.
Days on Market for Oberlin, OH
How long does it take to sell a home in Oberlin, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 20 Days | 49 Days | +135.9% |
Summary: Homes in Oberlin had an average of 49 days on market in May 2024, up by 135.9% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Oberlin are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 14 homes were sold in Oberlin; 64% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
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