Is Richmond Heights, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Richmond Heights has remained a Seller's Market.
Housing Prices in Richmond Heights, OH
How much do homes in Richmond Heights, OH cost?
Median Sold Price
$217,000
$105/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Richmond Heights was $217,000 in February 2024, up 8.4% from last year, and the median price per square foot was $105.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $151.9K | $172.5K | +13.5% |
3 Bedrooms | $185K | $208.9K | +12.9% |
4 Bedrooms | $250K | $265K | +6.0% |
5+ Bedrooms | $357.4K | $393.2K | +10.0% |
Summary: Richmond Heights 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 increased by 13.5%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 10%.
Median Sold Price Compared To Nearby Cities
Willoughby Hills | $276.5K | $326K | +17.9% |
Highland Heights | $368.5K | $413K | +12.1% |
Richmond Heights | $200.2K | $217K | +8.4% |
Euclid | $125.4K | $132.1K | +5.3% |
Housing Supply in Richmond Heights, OH
How many homes are available in Richmond Heights, OH?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
33 | 30 | -9.1% |
Summary: The Richmond Heights real estate market had 30 homes for sale in February 2024, a 9.1% decrease compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 0 | 0.0% |
3 Bedrooms | 21 | 19 | -9.5% |
4 Bedrooms | 11 | 10 | -9.1% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Richmond Heights 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 remained the same, 3 bedroom homes decreased by 9.5%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
6 | 10 | +66.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Richmond Heights in February 2024, up by 66.7% month-over-month. Of the 10 sold homes, 70% were sold under asking, 20% were sold at asking, and 10% were sold over asking.
Days on Market for Richmond Heights, OH
How long does it take to sell a home in Richmond Heights, OH?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
39 Days | 92 Days | +135.4% |
Summary: Homes in Richmond Heights had an average of 92 days on market in Feb 2024, up by 135.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During February 2024, 10 homes were sold in Richmond Heights; 10% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.