Is Mayfield, 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, Mayfield has remained a Seller's Market.
Key Takeaway
Mayfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mayfield, OH
How much do homes in Mayfield, OH cost?
Median Sold Price
$349,000
$134/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mayfield have sold for 9.4% less than they did a year ago.
Summary: The median home sold price in Mayfield was $349,000 in May 2024, down 9.4% from last year, and the median price per square foot was $134.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $175K | $172.7K | -1.3% |
| 3 Bedrooms | $362.5K | $350K | -3.4% |
| 4 Bedrooms | $365K | $342.5K | -6.2% |
| 5+ Bedrooms | $525K | $831.4K | +58.4% |
Summary: Mayfield 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 1.3%, 3 bedroom homes decreased by 3.4%, 4 bedroom homes decreased by 6.2%, and 5+ bedroom homes increased by 58.4%.
Median Sold Price Compared To Nearby Cities
| Willoughby Hills | $265K | $326K | +23.0% |
| Highland Heights | $370K | $430K | +16.2% |
| Mayfield Heights | $192K | $217.7K | +13.4% |
| Mayfield | $385K | $349K | -9.4% |
Housing Supply in Mayfield, OH
How many homes are available in Mayfield, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 23 | +9.5% |
Summary: The Mayfield real estate market had 23 homes for sale in May 2024, a 9.5% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 9 | 12 | +33.3% |
| 4 Bedrooms | 9 | 7 | -22.2% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Mayfield 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 remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mayfield, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Mayfield in May 2024, up by 133.3% month-over-month. Of the 7 sold homes, 57% were sold under asking, 0% were sold at asking, and 43% were sold over asking.
Days on Market for Mayfield, OH
How long does it take to sell a home in Mayfield, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 11 Days | 35 Days | +222.1% |
Summary: Homes in Mayfield had an average of 35 days on market in May 2024, up by 222.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Mayfield has remained consistent over time.
Summary: During May 2024, 7 homes were sold in Mayfield; 43% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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