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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing North Royalton is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in North Royalton, OH

How much do homes in North Royalton, OH cost?

Median Sold Price

$290,000

$128/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$5,000(+1.8%)

Key Takeaway

Homes in North Royalton have sold for 1.8% more than they did a year ago.

Summary: The median home sold price in North Royalton was $290,000 in February 2024, up 1.8% from last year, and the median price per square foot was $128.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $80.5K$90K
+11.8%
2 $131.5K$144.9K
+10.2%
3 $255K$280K
+9.8%
4 $390K$420.2K
+7.7%
5+ $520K$410K
-21.2%

Summary: North Royalton housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.8%, 2 bedroom homes increased by 10.2%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes decreased by 21.2%.

Median Sold Price Compared To Nearby Cities

Hinckley
+12.7%
Broadview Heights
+10.3%
Parma
+7.9%
North Royalton
+1.8%

Housing Supply in North Royalton, OH

How many homes are available in North Royalton, OH?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
5761+7.0%

Summary: The North Royalton real estate market had 61 homes for sale in February 2024, a 7.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 1920
+5.3%
3 2422
-8.3%
4 1216
+33.3%
5+ 23
+50.0%

Summary: The North Royalton housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 5.3%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1512-20.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in North Royalton, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in North Royalton in February 2024, down by 20.0% month-over-month. Of the 12 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.

Days on Market for North Royalton, OH

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

Average Sale Time

Feb 2023Feb 2024CHANGE
53 Days100 Days+87.2%

Summary: Homes in North Royalton had an average of 100 days on market in Feb 2024, up by 87.2% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 12 homes were sold in North Royalton; 42% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 25% 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 27 Days Ago

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