Is Olmsted Township, 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, Olmsted Township has remained a Seller's Market.
Key Takeaway
Olmsted Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Olmsted Township, OH
How much do homes in Olmsted Township, OH cost?
Median Sold Price
$262,000
$115/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Olmsted Township have sold for 18.3% more than they did a year ago.
Summary: The median home sold price in Olmsted Township was $262,000 in May 2024, up 18.3% from last year, and the median price per square foot was $115.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $105K | N/A |
| 2 Bedrooms | $52.9K | $58.4K | +10.5% |
| 3 Bedrooms | $228.5K | $262.5K | +14.9% |
| 4 Bedrooms | $369.4K | $373.9K | +1.2% |
| 5+ Bedrooms | $360K | $480.9K | +33.6% |
Summary: Olmsted Township 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 increased by 10.5%, 3 bedroom homes increased by 14.9%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes increased by 33.6%.
Median Sold Price Compared To Nearby Cities
| Berea | $195.7K | $233.4K | +19.3% |
| Olmsted Township | $221.5K | $262K | +18.3% |
| North Olmsted | $225.6K | $249.9K | +10.8% |
| Olmsted Falls | $235K | $247.5K | +5.3% |
| Columbia Station | $425K | $440K | +3.5% |
Housing Supply in Olmsted Township, OH
How many homes are available in Olmsted Township, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 36 | 46 | +27.8% |
Summary: The Olmsted Township real estate market had 46 homes for sale in May 2024, a 27.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 9 | 10 | +11.1% |
| 3 Bedrooms | 13 | 23 | +76.9% |
| 4 Bedrooms | 12 | 8 | -33.3% |
| 5+ Bedrooms | 1 | 4 | +300.0% |
Summary: The Olmsted Township 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 11.1%, 3 bedroom homes increased by 76.9%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes increased by 300%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 9 | -30.8% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Olmsted Township, you could pay more than the asking price. 77.8% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Olmsted Township in May 2024, down by 30.8% month-over-month. Of the 9 sold homes, 22% were sold under asking, 0% were sold at asking, and 78% were sold over asking.
Days on Market for Olmsted Township, OH
How long does it take to sell a home in Olmsted Township, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 25 Days | 28 Days | +11.8% |
Summary: Homes in Olmsted Township had an average of 28 days on market in May 2024, up by 11.8% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Olmsted Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Olmsted Township; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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