Is Niles, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Niles has remained a Seller's Market.
Key Takeaway
Niles is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Niles, OH
How much do homes in Niles, OH cost?
Median Sold Price
$130,000
$85/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Niles have sold for 23.8% more than they did a year ago.
Summary: The median home sold price in Niles was $130,000 in May 2024, up 23.8% from last year, and the median price per square foot was $85.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $20K | $51K | +155.0% |
| 2 Bedrooms | $90K | $87K | -3.3% |
| 3 Bedrooms | $110K | $147K | +33.6% |
| 4 Bedrooms | $124.5K | $152.5K | +22.5% |
| 5+ Bedrooms | $152.5K | $235K | +54.1% |
Summary: Niles housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 155%, 2 bedroom homes decreased by 3.3%, 3 bedroom homes increased by 33.6%, 4 bedroom homes increased by 22.5%, and 5+ bedroom homes increased by 54.1%.
Median Sold Price Compared To Nearby Cities
| Niles | $105K | $130K | +23.8% |
| Mc Donald | $118K | $144.7K | +22.7% |
| Weathersfield Township | $110K | $131.4K | +19.5% |
| Howland Township | $180K | $199K | +10.6% |
Housing Supply in Niles, OH
How many homes are available in Niles, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 54 | 54 | 0.0% |
Summary: The Niles real estate market had 54 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 11 | 12 | +9.1% |
| 3 Bedrooms | 28 | 31 | +10.7% |
| 4 Bedrooms | 10 | 6 | -40.0% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Niles housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 10.7%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 19 | +46.2% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Niles, you may be able to get a good deal. 57.9% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Niles in May 2024, up by 46.2% month-over-month. Of the 19 sold homes, 58% were sold under asking, 11% were sold at asking, and 32% were sold over asking.
Days on Market for Niles, OH
How long does it take to sell a home in Niles, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 43 Days | 70 Days | +62.3% |
Summary: Homes in Niles had an average of 70 days on market in May 2024, up by 62.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Niles are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 19 homes were sold in Niles; 42% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 26% of homes were sold over 90 days.
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