Is Medina City 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, Medina City Township has remained a Seller's Market.
Key Takeaway
Medina City Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Medina City Township, OH
How much do homes in Medina City Township, OH cost?
Median Sold Price
$280,000
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Medina City Township have sold for 13.9% more than they did a year ago.
Summary: The median home sold price in Medina City Township was $280,000 in May 2024, up 13.9% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $170K | $176.2K | +3.7% |
| 3 Bedrooms | $239K | $271.5K | +13.6% |
| 4 Bedrooms | $292.5K | $340K | +16.2% |
| 5+ Bedrooms | $367.5K | $415.7K | +13.1% |
Summary: Medina City 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 3.7%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 16.2%, and 5+ bedroom homes increased by 13.1%.
Median Sold Price Compared To Nearby Cities
| Medina City Township | $245.7K | $280K | +13.9% |
| Medina | $325K | $350K | +7.7% |
| Medina Township | $325K | $350K | +7.7% |
| York Township | $380K | $405K | +6.6% |
| Montville Township | $450K | $436.5K | -3.0% |
Housing Supply in Medina City Township, OH
How many homes are available in Medina City Township, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 63 | 68 | +7.9% |
Summary: The Medina City Township real estate market had 68 homes for sale in May 2024, a 7.9% 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 | 3 | 7 | +133.3% |
| 3 Bedrooms | 37 | 28 | -24.3% |
| 4 Bedrooms | 23 | 28 | +21.7% |
| 5+ Bedrooms | 0 | 5 | +100.0% |
Summary: The Medina City 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 133.3%, 3 bedroom homes decreased by 24.3%, 4 bedroom homes increased by 21.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 25 | 22 | -12.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Medina City Township, you could pay more than the asking price. 59.1% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in Medina City Township in May 2024, down by 12.0% month-over-month. Of the 22 sold homes, 23% were sold under asking, 18% were sold at asking, and 59% were sold over asking.
Days on Market for Medina City Township, OH
How long does it take to sell a home in Medina City Township, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 14 Days | 17 Days | +22.8% |
Summary: Homes in Medina City Township had an average of 17 days on market in May 2024, up by 22.8% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Medina City Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 22 homes were sold in Medina City Township; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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