Is Mayfield, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Mayfield was a Seller's Market.
Key Takeaway
Mayfield is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Mayfield, OH
How much do homes in Mayfield, OH cost?
Median Sold Price
$340,000
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Mayfield have sold for 10.5% less than they did a year ago.
Summary: The median home sold price in Mayfield was $340,000 in April 2024, down 10.5% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $175K | $193K | +10.3% |
| 3 Bedrooms | $380K | $339.5K | -10.7% |
| 4 Bedrooms | $345K | $345K | 0.0% |
| 5+ Bedrooms | $525K | $831.4K | +58.4% |
Summary: Mayfield 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 increased by 10.3%, 3 bedroom homes decreased by 10.7%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 58.4%.
Median Sold Price Compared To Nearby Cities
| Gates Mills | $600K | $762.5K | +27.1% |
| Willoughby Hills | $267K | $326.2K | +22.2% |
| Highland Heights | $369K | $430K | +16.5% |
| Mayfield Heights | $193K | $217.2K | +12.6% |
| Mayfield | $380K | $340K | -10.5% |
Housing Supply in Mayfield, OH
How many homes are available in Mayfield, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 | 21 | -8.7% |
Summary: The Mayfield real estate market had 21 homes for sale in April 2024, a 8.7% decrease 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 11 | 9 | -18.2% |
| 4 Bedrooms | 9 | 8 | -11.1% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Mayfield 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 100%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Mayfield, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Mayfield in April 2024, the same as the previous month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Mayfield, OH
How long does it take to sell a home in Mayfield, OH?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 36 Days | 56 Days | +54.8% |
Summary: Homes in Mayfield had an average of 56 days on market in Apr 2024, up by 54.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Mayfield are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in Mayfield; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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