Is Mayfield, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Mayfield was a Seller's Market.
Key Takeaway
Mayfield is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mayfield, OH
How much do homes in Mayfield, OH cost?
Median Sold Price
$340,000
$128/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Mayfield have sold for 4.5% less than they did a year ago.
Summary: The median home sold price in Mayfield was $340,000 in March 2024, down 4.5% from last year, and the median price per square foot was $128.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $175K | $193K | +10.3% |
| 3 Bedrooms | $356K | $337.2K | -5.3% |
| 4 Bedrooms | $325K | $345K | +6.2% |
| 5+ Bedrooms | $484.5K | $845K | +74.4% |
Summary: Mayfield 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 increased by 10.3%, 3 bedroom homes decreased by 5.3%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 74.4%.
Median Sold Price Compared To Nearby Cities
| Gates Mills | $555K | $800K | +44.1% |
| Willoughby Hills | $272.5K | $324K | +18.9% |
| Highland Heights | $369K | $423.2K | +14.7% |
| Mayfield Heights | $195K | $215K | +10.3% |
| Mayfield | $356K | $340K | -4.5% |
Housing Supply in Mayfield, OH
How many homes are available in Mayfield, OH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 23 | +76.9% |
Summary: The Mayfield real estate market had 23 homes for sale in March 2024, a 76.9% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 3 | 11 | +266.7% |
| 4 Bedrooms | 7 | 9 | +28.6% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Mayfield 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 remained the same, 3 bedroom homes increased by 266.7%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 0 | 3 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Mayfield, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in Mayfield in March 2024, up by 100.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 67% were sold at asking, and 33% were sold over asking.
Days on Market for Mayfield, OH
How long does it take to sell a home in Mayfield, OH?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 120 Days | 1 Days | -98.6% |
Summary: Homes in Mayfield had an average of 1 days on market in Mar 2024, down by 98.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mayfield are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in Mayfield; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Copyright 2024 MLS Now. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Buyer to verify all information. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). The photos may be altered, edited, enhanced or virtually staged.