Is Novelty, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Novelty was a Buyer's Market.
Housing Prices in Novelty, OH
How much do homes in Novelty, OH cost?
Median Sold Price
$399,950
$150/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Novelty was $399,950 in February 2024, up 3.9% from last year, and the median price per square foot was $150.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $624.9K | N/A |
2 Bedrooms | - | $217.5K | N/A |
3 Bedrooms | $315K | $280K | -11.1% |
4 Bedrooms | $440K | $454.5K | +3.3% |
5+ Bedrooms | $500K | $1.0M | +100.0% |
Summary: Novelty housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 11.1%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 100%.
Median Sold Price Compared To Nearby Cities
Novelty | $385K | $399.9K | +3.9% |
Chesterland | $325K | $325K | 0.0% |
Housing Supply in Novelty, OH
How many homes are available in Novelty, OH?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
5 | 5 | 0.0% |
Summary: The Novelty real estate market had 5 homes for sale in February 2024, the same as January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 0 | 0 | 0.0% |
3 Bedrooms | 2 | 2 | 0.0% |
4 Bedrooms | 3 | 2 | -33.3% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Novelty housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
1 | 3 | +200.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Novelty in February 2024, up by 200.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Novelty, OH
How long does it take to sell a home in Novelty, OH?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
83 Days | 44 Days | -46.6% |
Summary: Homes in Novelty had an average of 44 days on market in Feb 2024, down by 46.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During February 2024, 3 homes were sold in Novelty; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.