Is Rocky River, 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, Rocky River has remained a Seller's Market.
Key Takeaway
Rocky River is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rocky River, OH
How much do homes in Rocky River, OH cost?
Median Sold Price
$360,000
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Rocky River have sold for 10.8% more than they did a year ago.
Summary: The median home sold price in Rocky River was $360,000 in March 2024, up 10.8% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $79.9K | $92.5K | +15.7% |
| 2 Bedrooms | $145K | $138K | -4.8% |
| 3 Bedrooms | $326K | $369.8K | +13.4% |
| 4 Bedrooms | $489K | $515K | +5.3% |
| 5+ Bedrooms | $695K | $529.9K | -23.8% |
Summary: Rocky River housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.7%, 2 bedroom homes decreased by 4.8%, 3 bedroom homes increased by 13.4%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes decreased by 23.8%.
Median Sold Price Compared To Nearby Cities
| Rocky River | $325K | $360K | +10.8% |
| Fairview Park | $248K | $259K | +4.4% |
| Lakewood | $279K | $285.2K | +2.2% |
Housing Supply in Rocky River, OH
How many homes are available in Rocky River, OH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 57 | 64 | +12.3% |
Summary: The Rocky River real estate market had 64 homes for sale in March 2024, a 12.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 3 | -50.0% |
| 2 Bedrooms | 9 | 13 | +44.4% |
| 3 Bedrooms | 30 | 31 | +3.3% |
| 4 Bedrooms | 9 | 15 | +66.7% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Rocky River housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 44.4%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 10 | 16 | +60.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rocky River, you may be able to get a good deal. 56.3% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Rocky River in March 2024, up by 60.0% month-over-month. Of the 16 sold homes, 56% were sold under asking, 6% were sold at asking, and 38% were sold over asking.
Days on Market for Rocky River, OH
How long does it take to sell a home in Rocky River, OH?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 32 Days | 38 Days | +20.8% |
Summary: Homes in Rocky River had an average of 38 days on market in Mar 2024, up by 20.8% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rocky River are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 16 homes were sold in Rocky River; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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