Is Independence, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Independence has remained a Seller's Market.
Key Takeaway
Independence is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Independence, OH
How much do homes in Independence, OH cost?
Median Sold Price
$310,000
$125/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Independence have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in Independence was $310,000 in March 2024, up 6.9% from last year, and the median price per square foot was $125.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $265K | $202.5K | -23.6% |
| 3 Bedrooms | $245K | $275K | +12.2% |
| 4 Bedrooms | $375K | $377.5K | +0.7% |
| 5+ Bedrooms | $685K | $446.2K | -34.9% |
Summary: Independence housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 23.6%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes decreased by 34.9%.
Median Sold Price Compared To Nearby Cities
| Seven Hills | $265K | $285.7K | +7.8% |
| Independence | $290K | $310K | +6.9% |
Housing Supply in Independence, OH
How many homes are available in Independence, OH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 17 | +6.3% |
Summary: The Independence real estate market had 17 homes for sale in March 2024, a 6.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 11 | 9 | -18.2% |
| 4 Bedrooms | 2 | 4 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Independence housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Independence, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Independence in March 2024, the same as the previous month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Independence, OH
How long does it take to sell a home in Independence, OH?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 31 Days | 54 Days | +70.7% |
Summary: Homes in Independence had an average of 54 days on market in Mar 2024, up by 70.7% compared to last year.
Breakdown of Home Sale Times
2 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 Independence are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in Independence; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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