Is Willoughby Hills, OH a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Willoughby Hills is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Willoughby Hills has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Willoughby Hills, OH

How much do homes in Willoughby Hills, OH cost?

Median Sold Price

$322,000

$136/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$23,001(+7.7%)

Key Takeaway

Homes in Willoughby Hills have sold for 7.7% more than they did a year ago.

Summary: The median home sold price in Willoughby Hills was $322,000 in November 2024, up 7.7% from last year, and the median price per square foot was $136.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$225K
N/A
2 $170K$212.5K
+25.0%
3 $248.5K$287.2K
+15.6%
4 $322K$435K
+35.1%
5+ $569K$325K
-42.9%

Summary: Willoughby Hills housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 35.1%, and 5+ bedroom homes decreased by 42.9%.

Median Sold Price Compared To Nearby Cities

Kirtland
+15.2%
Wickliffe
+9.7%
Willoughby
+9.4%
Willoughby Hills
+7.7%

Housing Supply in Willoughby Hills, OH

How many homes are available in Willoughby Hills, OH?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2316-30.4%

Summary: The Willoughby Hills real estate market had 16 homes for sale in November 2024, a 30.4% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 33
0.0%
3 107
-30.0%
4 85
-37.5%
5+ 21
-50.0%

Summary: The Willoughby Hills housing inventory by bedroom type for November 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 30%, 4 bedroom homes decreased by 37.5%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
75-28.6%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Willoughby Hills, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Willoughby Hills in November 2024, down by 28.6% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.

Days on Market for Willoughby Hills, OH

How long does it take to sell a home in Willoughby Hills, OH?

Average Sale Time

Nov 2023Nov 2024CHANGE
67 Days15 Days-77.6%

Summary: Homes in Willoughby Hills had an average of 15 days on market in Nov 2024, down by 77.6% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Willoughby Hills are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 5 homes were sold in Willoughby Hills; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

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

Report Updated 12 Days Ago

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