Is Moreland Hills, 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, Moreland Hills has remained a Seller's Market.
Key Takeaway
Moreland Hills is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Moreland Hills, OH
How much do homes in Moreland Hills, OH cost?
Median Sold Price
$672,500
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Moreland Hills have sold for 15.1% less than they did a year ago.
Summary: The median home sold price in Moreland Hills was $672,500 in March 2024, down 15.1% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $325K | $257K | -20.9% |
| 3 Bedrooms | $625K | $460K | -26.4% |
| 4 Bedrooms | $815K | $622.5K | -23.6% |
| 5+ Bedrooms | $1.2M | $1.2M | -2.0% |
Summary: Moreland Hills 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 20.9%, 3 bedroom homes decreased by 26.4%, 4 bedroom homes decreased by 23.6%, and 5+ bedroom homes decreased by 2%.
Median Sold Price Compared To Nearby Cities
| Chagrin Falls Township | $460.3K | $541.9K | +17.7% |
| Chagrin Falls | $460.3K | $541.9K | +17.7% |
| Moreland Hills | $792.5K | $672.5K | -15.1% |
Housing Supply in Moreland Hills, OH
How many homes are available in Moreland Hills, OH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 17 | 0.0% |
Summary: The Moreland Hills real estate market had 17 homes for sale in March 2024, the same as 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 | 5 | 6 | +20.0% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Moreland Hills 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 20%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Moreland Hills, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Moreland Hills in March 2024, up by 66.7% month-over-month. Of the 5 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Moreland Hills, OH
How long does it take to sell a home in Moreland Hills, OH?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 52 Days | 134 Days | +158.5% |
Summary: Homes in Moreland Hills had an average of 134 days on market in Mar 2024, up by 158.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Moreland Hills are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 5 homes were sold in Moreland Hills; 20% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 60% of homes were sold over 90 days.
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