Is North Olmsted, 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, North Olmsted has remained a Seller's Market.
Key Takeaway
North Olmsted is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in North Olmsted, OH
How much do homes in North Olmsted, OH cost?
Median Sold Price
$249,950
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in North Olmsted have sold for 10.8% more than they did a year ago.
Summary: The median home sold price in North Olmsted was $249,950 in May 2024, up 10.8% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $60K | $77K | +28.3% |
| 2 Bedrooms | $134K | $135K | +0.7% |
| 3 Bedrooms | $225K | $240.2K | +6.8% |
| 4 Bedrooms | $280K | $312K | +11.4% |
| 5+ Bedrooms | $310K | $353.9K | +14.2% |
Summary: North Olmsted housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.3%, 2 bedroom homes increased by 0.7%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes increased by 14.2%.
Median Sold Price Compared To Nearby Cities
| Olmsted Township | $221.5K | $262K | +18.3% |
| Brook Park | $185K | $210K | +13.5% |
| Brookpark | $185K | $210K | +13.5% |
| North Olmsted | $225.6K | $249.9K | +10.8% |
| Westlake | $350K | $365K | +4.3% |
Housing Supply in North Olmsted, OH
How many homes are available in North Olmsted, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 97 | 99 | +2.1% |
Summary: The North Olmsted real estate market had 99 homes for sale in May 2024, a 2.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 4 | +300.0% |
| 2 Bedrooms | 22 | 21 | -4.5% |
| 3 Bedrooms | 43 | 41 | -4.7% |
| 4 Bedrooms | 26 | 30 | +15.4% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The North Olmsted housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 300%, 2 bedroom homes decreased by 4.5%, 3 bedroom homes decreased by 4.7%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 39 | 35 | -10.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Olmsted, you could pay more than the asking price. 68.6% of homes here sold above asking price last month.
Summary: A total of 35 homes were sold or pending in North Olmsted in May 2024, down by 10.3% month-over-month. Of the 35 sold homes, 23% were sold under asking, 9% were sold at asking, and 69% were sold over asking.
Days on Market for North Olmsted, OH
How long does it take to sell a home in North Olmsted, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 12 Days | -18.3% |
Summary: Homes in North Olmsted had an average of 12 days on market in May 2024, down by 18.3% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North Olmsted are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 35 homes were sold in North Olmsted; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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