Is Willoughby, 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, Willoughby has remained a Seller's Market.
Key Takeaway
Willoughby is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Willoughby, OH
How much do homes in Willoughby, OH cost?
Median Sold Price
$239,550
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Willoughby have sold for 2.2% less than they did a year ago.
Summary: The median home sold price in Willoughby was $239,550 in April 2024, down 2.2% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80K | - | N/A |
| 2 Bedrooms | $139.9K | $145K | +3.6% |
| 3 Bedrooms | $242.5K | $240.2K | -0.9% |
| 4 Bedrooms | $335K | $390K | +16.4% |
| 5+ Bedrooms | $549.9K | $295K | -46.4% |
Summary: Willoughby 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 3.6%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes decreased by 46.4%.
Median Sold Price Compared To Nearby Cities
| Willoughby Hills | $267K | $326.2K | +22.2% |
| Kirtland | $299K | $340.4K | +13.9% |
| Eastlake | $170K | $189K | +11.2% |
| Willoughby | $245K | $239.5K | -2.2% |
Housing Supply in Willoughby, OH
How many homes are available in Willoughby, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 90 | 105 | +16.7% |
Summary: The Willoughby real estate market had 105 homes for sale in April 2024, a 16.7% 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 | 21 | 24 | +14.3% |
| 3 Bedrooms | 48 | 60 | +25.0% |
| 4 Bedrooms | 16 | 18 | +12.5% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The Willoughby 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 14.3%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 33 | +65.0% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Willoughby, you may be able to get a good deal. 57.6% of homes here sold below asking price last month.
Summary: A total of 33 homes were sold or pending in Willoughby in April 2024, up by 65.0% month-over-month. Of the 33 sold homes, 58% were sold under asking, 15% were sold at asking, and 27% were sold over asking.
Days on Market for Willoughby, OH
How long does it take to sell a home in Willoughby, OH?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 47 Days | 35 Days | -25.7% |
Summary: Homes in Willoughby had an average of 35 days on market in Apr 2024, down by 25.7% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Willoughby are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 33 homes were sold in Willoughby; 55% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
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