Is Olmsted Township, 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, Olmsted Township has remained a Seller's Market.
Key Takeaway
Olmsted Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Olmsted Township, OH
How much do homes in Olmsted Township, OH cost?
Median Sold Price
$226,250
$111/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Olmsted Township have sold for 3.9% less than they did a year ago.
Summary: The median home sold price in Olmsted Township was $226,250 in March 2024, down 3.9% from last year, and the median price per square foot was $111.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $105K | N/A |
| 2 Bedrooms | $45K | $57.9K | +28.7% |
| 3 Bedrooms | $234.5K | $235.2K | 0.3% |
| 4 Bedrooms | $355K | $360K | +1.4% |
| 5+ Bedrooms | $360K | $479.9K | +33.3% |
Summary: Olmsted Township 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 increased by 28.7%, 3 bedroom homes increased by 0.3%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 33.3%.
Median Sold Price Compared To Nearby Cities
| Berea | $195.1K | $225K | +15.3% |
| North Olmsted | $225K | $244.2K | +8.5% |
| Olmsted Falls | $237K | $240.5K | +1.5% |
| Columbia Station | $430K | $430K | 0.0% |
| Olmsted Township | $235.5K | $226.2K | -3.9% |
Housing Supply in Olmsted Township, OH
How many homes are available in Olmsted Township, OH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 27 | 32 | +18.5% |
Summary: The Olmsted Township real estate market had 32 homes for sale in March 2024, a 18.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 10 | 9 | -10.0% |
| 3 Bedrooms | 7 | 9 | +28.6% |
| 4 Bedrooms | 9 | 12 | +33.3% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Olmsted Township 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 decreased by 10%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 9 | +50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Olmsted Township, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Olmsted Township in March 2024, up by 50.0% month-over-month. Of the 9 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Olmsted Township, OH
How long does it take to sell a home in Olmsted Township, OH?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 37 Days | 12 Days | -66.5% |
Summary: Homes in Olmsted Township had an average of 12 days on market in Mar 2024, down by 66.5% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Olmsted Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in Olmsted Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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