Is Mayfield Heights, 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 Heights has remained a Seller's Market.
Key Takeaway
Mayfield Heights is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mayfield Heights, OH
How much do homes in Mayfield Heights, OH cost?
Median Sold Price
$217,750
$132/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mayfield Heights have sold for 13.4% more than they did a year ago.
Summary: The median home sold price in Mayfield Heights was $217,750 in May 2024, up 13.4% from last year, and the median price per square foot was $132.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $160K | $73K | -54.4% |
| 2 Bedrooms | $153.5K | $180K | +17.3% |
| 3 Bedrooms | $197.5K | $225K | +13.9% |
| 4 Bedrooms | $280K | $298.5K | +6.6% |
| 5+ Bedrooms | $270K | $516K | +91.1% |
Summary: Mayfield Heights housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 54.4%, 2 bedroom homes increased by 17.3%, 3 bedroom homes increased by 13.9%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 91.1%.
Median Sold Price Compared To Nearby Cities
| Highland Heights | $370K | $430K | +16.2% |
| Mayfield Heights | $192K | $217.7K | +13.4% |
| Lyndhurst | $207.8K | $215K | +3.4% |
| Mayfield | $385K | $349K | -9.4% |
Housing Supply in Mayfield Heights, OH
How many homes are available in Mayfield Heights, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 47 | 57 | +21.3% |
Summary: The Mayfield Heights real estate market had 57 homes for sale in May 2024, a 21.3% 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 | 11 | 13 | +18.2% |
| 3 Bedrooms | 30 | 36 | +20.0% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Mayfield Heights 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 18.2%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 18 | +12.5% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mayfield Heights, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Mayfield Heights in May 2024, up by 12.5% month-over-month. Of the 18 sold homes, 50% were sold under asking, 11% were sold at asking, and 39% were sold over asking.
Days on Market for Mayfield Heights, OH
How long does it take to sell a home in Mayfield Heights, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 29 Days | 36 Days | +24.0% |
Summary: Homes in Mayfield Heights had an average of 36 days on market in May 2024, up by 24% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Mayfield Heights are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 18 homes were sold in Mayfield Heights; 72% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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