Is Richmond Heights, OH a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Richmond Heights is a seller's market

Buyer's
Market

Difference Since October 2021

Since last year, Richmond Heights has remained a Seller's Market.

Key Takeaway

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

How much do homes in Richmond Heights, OH cost?

Median Sold Price

$200,000

$98/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$17,750(+9.7%)

Key Takeaway

Homes in Richmond Heights have sold for 9.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 --
N/A
2 $114.5K$132.7K
+15.9%
3 $170K$183.8K
+8.2%
4 $251K$250K
-0.4%
5+ $240K$320K
+33.3%

Median Sold Price Compared To Nearby Cities

Lyndhurst
+12.0%
South Euclid
+10.4%
Richmond Heights
+9.7%
Highland Heights
+7.9%
Euclid
+6.0%

How many homes are available in Richmond Heights, OH?

Number of Homes For Sale

Sep 2022Oct 2022%
4947-4.1%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 00
0.0%
2 44
0.0%
3 2627
+3.8%
4 1715
-11.8%
5+ 21
-50.0%

Number of Homes Sold

Sep 2022Oct 2022%
199-52.6%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Richmond Heights, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
34 Days55 Days+62.7%

Breakdown of Home Sale Times

2 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

Avg time on Rocket Homes in Richmond Heights has remained consistent over time.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Richmond Heights, OH

There are 47 homes are for sale in Richmond Heights, OH real estate market. In October 2022 in Richmond Heights, OH there were 4.1% less homes for sale than in September 2022. Listings spent 55 days on the market in October 2022, and had a median list price of $200,000 during the same period. Real estate listing prices changed between September 2022 and October 2022: prices of 1 bedroom properties went up by 0%, prices of 2 bedrooms properties increased by 15.9%, prices of 3 bedrooms properties went up by 8.2%, prices of 4 bedrooms properties decreased by 0.4%, prices of 5 bedrooms properties increased by 33.3%. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes did not move, 2 bedrooms homes inventory did not change, number of 3 bedrooms homes increased by 3.8%, 4 bedrooms homes inventory decreased by 11.8%, 5 bedrooms homes became 50% less available. Over 1 listings were sold over their listed price in October 2022 in Richmond Heights, OH. In the same period over 5 listings were sold below the listed price and 3 listings were sold for the listed price.

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