Is Chagrin Falls, 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, Chagrin Falls has remained a Seller's Market.
Key Takeaway
Chagrin Falls is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chagrin Falls, OH
How much do homes in Chagrin Falls, OH cost?
Median Sold Price
$539,633
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Chagrin Falls have sold for 19.8% more than they did a year ago.
Summary: The median home sold price in Chagrin Falls was $539,633 in May 2024, up 19.8% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $118.2K | N/A |
| 2 Bedrooms | $325K | $320.3K | -1.4% |
| 3 Bedrooms | $350K | $404K | +15.4% |
| 4 Bedrooms | $545K | $615K | +12.8% |
| 5+ Bedrooms | $749K | $850K | +13.5% |
Summary: Chagrin Falls housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.4%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes increased by 13.5%.
Median Sold Price Compared To Nearby Cities
| South Russell | $390K | $510K | +30.8% |
| Chagrin Falls | $451.2K | $541.3K | +20.0% |
| Chagrin Falls Township | $451.1K | $541.3K | +20.0% |
| Chagrin Falls | $450.6K | $539.6K | +19.8% |
Housing Supply in Chagrin Falls, OH
How many homes are available in Chagrin Falls, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 133 | 157 | +18.0% |
Summary: The Chagrin Falls real estate market had 157 homes for sale in May 2024, a 18.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 11 | +57.1% |
| 3 Bedrooms | 44 | 50 | +13.6% |
| 4 Bedrooms | 59 | 67 | +13.6% |
| 5+ Bedrooms | 23 | 29 | +26.1% |
Summary: The Chagrin Falls 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 57.1%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 13.6%, and 5+ bedroom homes increased by 26.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 26 | 44 | +69.2% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chagrin Falls, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 44 homes were sold or pending in Chagrin Falls in May 2024, up by 69.2% month-over-month. Of the 44 sold homes, 45% were sold under asking, 16% were sold at asking, and 39% were sold over asking.
Days on Market for Chagrin Falls, OH
How long does it take to sell a home in Chagrin Falls, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 34 Days | 40 Days | +18.6% |
Summary: Homes in Chagrin Falls had an average of 40 days on market in May 2024, up by 18.6% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Chagrin Falls are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 44 homes were sold in Chagrin Falls; 61% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
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