Is Medina, 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, Medina has remained a Seller's Market.
Key Takeaway
Medina is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Medina, OH
How much do homes in Medina, OH cost?
Median Sold Price
$340,400
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Medina have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in Medina was $340,400 in April 2024, up 4.7% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $195K | $196K | 0.5% |
| 3 Bedrooms | $290.8K | $316.5K | +8.8% |
| 4 Bedrooms | $388K | $405K | +4.4% |
| 5+ Bedrooms | $544.5K | $620K | +13.9% |
Summary: Medina 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 0.5%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 13.9%.
Median Sold Price Compared To Nearby Cities
| Medina City Township | $240.2K | $277.5K | +15.5% |
| Medina | $325K | $340.4K | +4.7% |
| Medina Township | $325K | $340K | +4.6% |
| York Township | $380K | $390.2K | +2.7% |
| Montville Township | $450K | $429K | -4.7% |
Housing Supply in Medina, OH
How many homes are available in Medina, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 166 | 175 | +5.4% |
Summary: The Medina real estate market had 175 homes for sale in April 2024, a 5.4% 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 | 16 | 13 | -18.8% |
| 3 Bedrooms | 71 | 79 | +11.3% |
| 4 Bedrooms | 64 | 71 | +10.9% |
| 5+ Bedrooms | 15 | 12 | -20.0% |
Summary: The Medina 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 decreased by 18.8%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 59 | 58 | -1.7% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Medina, you could pay more than the asking price. 51.7% of homes here sold above asking price last month.
Summary: A total of 58 homes were sold or pending in Medina in April 2024, down by 1.7% month-over-month. Of the 58 sold homes, 31% were sold under asking, 17% were sold at asking, and 52% were sold over asking.
Days on Market for Medina, OH
How long does it take to sell a home in Medina, OH?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 29 Days | 23 Days | -22.5% |
Summary: Homes in Medina had an average of 23 days on market in Apr 2024, down by 22.5% compared to last year.
Breakdown of Home Sale Times
46 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Medina are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 58 homes were sold in Medina; 79% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
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