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 April 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

$245,000

$130/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$17,250(+7.6%)

Key Takeaway

Homes in North Olmsted have sold for 7.6% more than they did a year ago.

Summary: The median home sold price in North Olmsted was $245,000 in April 2024, up 7.6% from last year, and the median price per square foot was $130.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $60K$77.5K
+29.2%
2 $128.7K$134.9K
+4.8%
3 $225K$240K
+6.7%
4 $282.7K$304.5K
+7.7%
5+ $320K$344.9K
+7.8%

Summary: North Olmsted housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29.2%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 7.8%.

Median Sold Price Compared To Nearby Cities

Brook Park
+13.5%
Brookpark
+13.5%
North Olmsted
+7.6%
Olmsted Township
+4.7%
Westlake
+4.3%

Housing Supply in North Olmsted, OH

How many homes are available in North Olmsted, OH?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
8689+3.5%

Summary: The North Olmsted real estate market had 89 homes for sale in April 2024, a 3.5% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 11
0.0%
2 2023
+15.0%
3 3540
+14.3%
4 2620
-23.1%
5+ 45
+25.0%

Summary: The North Olmsted housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 15%, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 23.1%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
2536+44.0%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

25 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. 69.4% of homes here sold above asking price last month.

Summary: A total of 36 homes were sold or pending in North Olmsted in April 2024, up by 44.0% month-over-month. Of the 36 sold homes, 28% were sold under asking, 3% were sold at asking, and 69% 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

Apr 2023Apr 2024CHANGE
27 Days19 Days-27.1%

Summary: Homes in North Olmsted had an average of 19 days on market in Apr 2024, down by 27.1% compared to last year.

Breakdown of Home Sale Times

29 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 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 April 2024, 36 homes were sold in North Olmsted; 81% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 6% 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 10 Days Ago

Newest Listings in North Olmsted, OH

Nearby Markets to North Olmsted, OH

What housing markets are near North Olmsted, OH?