Is Independence, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Independence has remained a Seller's Market.
Key Takeaway
Independence is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Independence, OH
How much do homes in Independence, OH cost?
Median Sold Price
$310,000
$127/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Independence have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in Independence was $310,000 in April 2024, up 6.5% from last year, and the median price per square foot was $127.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $265K | $195K | -26.4% |
| 3 Bedrooms | $245K | $286K | +16.7% |
| 4 Bedrooms | $383K | $360K | -6.0% |
| 5+ Bedrooms | $685K | $446.2K | -34.9% |
Summary: Independence housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 26.4%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 6%, and 5+ bedroom homes decreased by 34.9%.
Median Sold Price Compared To Nearby Cities
| Seven Hills | $264K | $288.5K | +9.3% |
| Independence | $291K | $310K | +6.5% |
Housing Supply in Independence, OH
How many homes are available in Independence, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 20 | +25.0% |
Summary: The Independence real estate market had 20 homes for sale in April 2024, a 25.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 8 | 10 | +25.0% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Independence housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Independence, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Independence in April 2024, the same as the previous month. Of the 5 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.
Days on Market for Independence, OH
How long does it take to sell a home in Independence, OH?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 43 Days | 24 Days | -43.8% |
Summary: Homes in Independence had an average of 24 days on market in Apr 2024, down by 43.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Independence are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in Independence; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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