Is North Olmsted, OH a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing North Olmsted is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, North Olmsted has remained a Seller's Market.

Key Takeaway

North Olmsted is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in North Olmsted, OH

How much do homes in North Olmsted, OH cost?

Median Sold Price

$251,500

$134/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$16,333(+6.9%)

Key Takeaway

Homes in North Olmsted have sold for 6.9% more than they did a year ago.

Summary: The median home sold price in North Olmsted was $251,500 in September 2024, up 6.9% from last year, and the median price per square foot was $134.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $60K$77K
+28.3%
2 $134.9K$160K
+18.6%
3 $235K$246K
+4.7%
4 $285.5K$313.5K
+9.8%
5+ $320K$365K
+14.1%

Summary: North Olmsted housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.3%, 2 bedroom homes increased by 18.6%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 9.8%, and 5+ bedroom homes increased by 14.1%.

Median Sold Price Compared To Nearby Cities

Olmsted Township
+10.6%
Brook Park
+7.7%
Brookpark
+7.7%
North Olmsted
+6.9%
Westlake
+4.8%

Housing Supply in North Olmsted, OH

How many homes are available in North Olmsted, OH?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
10193-7.9%

Summary: The North Olmsted real estate market had 93 homes for sale in September 2024, a 7.9% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 56
+20.0%
2 1615
-6.3%
3 5345
-15.1%
4 2626
0.0%
5+ 11
0.0%

Summary: The North Olmsted housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes decreased by 15.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
3931-20.5%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in North Olmsted, you could pay more than the asking price. 61.3% of homes here sold above asking price last month.

Summary: A total of 31 homes were sold or pending in North Olmsted in September 2024, down by 20.5% month-over-month. Of the 31 sold homes, 16% were sold under asking, 23% were sold at asking, and 61% were sold over asking.

Days on Market for North Olmsted, OH

How long does it take to sell a home in North Olmsted, OH?

Average Sale Time

Sep 2023Sep 2024CHANGE
21 Days14 Days-29.4%

Summary: Homes in North Olmsted had an average of 14 days on market in Sep 2024, down by 29.4% compared to last year.

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in North Olmsted are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 31 homes were sold in North Olmsted; 81% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 30 Days Ago

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