Is Richmond Heights, 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, Richmond Heights has remained a Seller's Market.
Housing Prices in Richmond Heights, OH
How much do homes in Richmond Heights, OH cost?
Median Sold Price
$219,500
$105/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Richmond Heights was $219,500 in April 2024, up 7.3% from last year, and the median price per square foot was $105.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $144.9K | $180K | +24.2% |
3 Bedrooms | $185K | $205K | +10.8% |
4 Bedrooms | $250K | $270K | +8.0% |
5+ Bedrooms | $357.4K | $399.9K | +11.9% |
Summary: Richmond Heights 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 24.2%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 11.9%.
Median Sold Price Compared To Nearby Cities
Willoughby Hills | $267K | $326.2K | +22.2% |
Highland Heights | $369K | $430K | +16.5% |
Richmond Heights | $204.5K | $219.5K | +7.3% |
Euclid | $129.6K | $133.5K | +3.0% |
Housing Supply in Richmond Heights, OH
How many homes are available in Richmond Heights, OH?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
30 | 31 | +3.3% |
Summary: The Richmond Heights real estate market had 31 homes for sale in April 2024, a 3.3% 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 | 1 | 1 | 0.0% |
3 Bedrooms | 18 | 17 | -5.6% |
4 Bedrooms | 9 | 12 | +33.3% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Richmond Heights 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 remained the same, 3 bedroom homes decreased by 5.6%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
4 | 7 | +75.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Richmond Heights in April 2024, up by 75.0% month-over-month. Of the 7 sold homes, 14% were sold under asking, 14% were sold at asking, and 71% were sold over asking.
Days on Market for Richmond Heights, OH
How long does it take to sell a home in Richmond Heights, OH?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
71 Days | 26 Days | -62.7% |
Summary: Homes in Richmond Heights had an average of 26 days on market in Apr 2024, down by 62.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 7 homes were sold in Richmond Heights; 43% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.