Is Ravenna, 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, Ravenna has remained a Seller's Market.
Housing Prices in Ravenna, OH
How much do homes in Ravenna, OH cost?
Median Sold Price
$179,978
$115/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Ravenna was $179,978 in March 2024, up 8.3% from last year, and the median price per square foot was $115.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $150K | $51.8K | -65.4% |
2 Bedrooms | $98K | $120K | +22.4% |
3 Bedrooms | $171.5K | $190K | +10.8% |
4 Bedrooms | $253.5K | $239.9K | -5.4% |
5+ Bedrooms | $155.4K | $264.4K | +70.1% |
Summary: Ravenna housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 65.4%, 2 bedroom homes increased by 22.4%, 3 bedroom homes increased by 10.8%, 4 bedroom homes decreased by 5.4%, and 5+ bedroom homes increased by 70.1%.
Median Sold Price Compared To Nearby Cities
Ravenna | $166.1K | $179.9K | +8.3% |
Ravenna Township | $166.7K | $179.9K | +7.9% |
Housing Supply in Ravenna, OH
How many homes are available in Ravenna, OH?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
76 | 71 | -6.6% |
Summary: The Ravenna real estate market had 71 homes for sale in March 2024, a 6.6% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 7 | 6 | -14.3% |
3 Bedrooms | 42 | 44 | +4.8% |
4 Bedrooms | 21 | 14 | -33.3% |
5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Ravenna 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 14.3%, 3 bedroom homes increased by 4.8%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
25 | 21 | -16.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in Ravenna in March 2024, down by 16.0% month-over-month. Of the 21 sold homes, 52% were sold under asking, 10% were sold at asking, and 38% were sold over asking.
Days on Market for Ravenna, OH
How long does it take to sell a home in Ravenna, OH?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
49 Days | 55 Days | +12.4% |
Summary: Homes in Ravenna had an average of 55 days on market in Mar 2024, up by 12.4% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 21 homes were sold in Ravenna; 33% of homes were sold within 30 days, 48% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.