Is Northfield, 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, Northfield has remained a Seller's Market.
Key Takeaway
Northfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Northfield, OH
How much do homes in Northfield, OH cost?
Median Sold Price
$245,000
$137/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Northfield have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in Northfield was $245,000 in May 2024, up 4.3% from last year, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $112.9K | $125K | +10.7% |
| 2 Bedrooms | $172K | $171.5K | -0.3% |
| 3 Bedrooms | $230K | $242K | +5.2% |
| 4 Bedrooms | $330K | $385.5K | +16.8% |
| 5+ Bedrooms | $412.5K | $435K | +5.5% |
Summary: Northfield housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.7%, 2 bedroom homes decreased by 0.3%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 16.8%, and 5+ bedroom homes increased by 5.5%.
Median Sold Price Compared To Nearby Cities
| Sagamore Hills Township | $255.9K | $269K | +5.1% |
| Northfield | $234.9K | $245K | +4.3% |
| Walton Hills | $275K | $279K | +1.5% |
| Macedonia | $305.9K | $299.5K | -2.1% |
Housing Supply in Northfield, OH
How many homes are available in Northfield, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 49 | 54 | +10.2% |
Summary: The Northfield real estate market had 54 homes for sale in May 2024, a 10.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 5 | -37.5% |
| 2 Bedrooms | 15 | 15 | 0.0% |
| 3 Bedrooms | 18 | 25 | +38.9% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Northfield housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 37.5%, 2 bedroom homes remained the same, 3 bedroom homes increased by 38.9%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 13 | -27.8% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northfield, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Northfield in May 2024, down by 27.8% month-over-month. Of the 12 sold homes, 33% were sold under asking, 8% were sold at asking, and 58% were sold over asking.
Days on Market for Northfield, OH
How long does it take to sell a home in Northfield, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 27 Days | 25 Days | -7.4% |
Summary: Homes in Northfield had an average of 25 days on market in May 2024, down by 7.4% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Northfield are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Northfield; 69% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
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