Is Rocky River, 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, Rocky River has remained a Seller's Market.
Key Takeaway
Rocky River is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rocky River, OH
How much do homes in Rocky River, OH cost?
Median Sold Price
$360,000
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Rocky River have sold for 12.5% more than they did a year ago.
Summary: The median home sold price in Rocky River was $360,000 in May 2024, up 12.5% 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 | $79.9K | $90K | +12.6% |
| 2 Bedrooms | $145K | $140K | -3.4% |
| 3 Bedrooms | $325.5K | $362K | +11.2% |
| 4 Bedrooms | $484K | $518K | +7.0% |
| 5+ Bedrooms | $552.4K | $617.5K | +11.8% |
Summary: Rocky River housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.6%, 2 bedroom homes decreased by 3.4%, 3 bedroom homes increased by 11.2%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 11.8%.
Median Sold Price Compared To Nearby Cities
| Rocky River | $320K | $360K | +12.5% |
| Lakewood | $275K | $290.7K | +5.7% |
| Fairview Park | $248.5K | $258K | +3.8% |
Housing Supply in Rocky River, OH
How many homes are available in Rocky River, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 76 | 96 | +26.3% |
Summary: The Rocky River real estate market had 96 homes for sale in May 2024, a 26.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 7 | +16.7% |
| 2 Bedrooms | 21 | 22 | +4.8% |
| 3 Bedrooms | 25 | 38 | +52.0% |
| 4 Bedrooms | 20 | 23 | +15.0% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Rocky River housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 52%, 4 bedroom homes increased by 15%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 28 | 23 | -17.9% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rocky River, you may be able to get a good deal. 56.5% of homes here sold below asking price last month.
Summary: A total of 23 homes were sold or pending in Rocky River in May 2024, down by 17.9% month-over-month. Of the 23 sold homes, 57% were sold under asking, 9% were sold at asking, and 35% were sold over asking.
Days on Market for Rocky River, OH
How long does it take to sell a home in Rocky River, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 22 Days | 23 Days | +2.3% |
Summary: Homes in Rocky River had an average of 23 days on market in May 2024, up by 2.3% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Rocky River are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 23 homes were sold in Rocky River; 70% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
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