Is Moreland Hills, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Moreland Hills was a Buyer's Market.
Key Takeaway
Moreland Hills is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Moreland Hills, OH
How much do homes in Moreland Hills, OH cost?
Median Sold Price
$655,000
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Moreland Hills have sold for 11.5% less than they did a year ago.
Summary: The median home sold price in Moreland Hills was $655,000 in May 2024, down 11.5% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $325K | $257K | -20.9% |
| 3 Bedrooms | $511K | $465K | -9.0% |
| 4 Bedrooms | $792.5K | $650K | -18.0% |
| 5+ Bedrooms | $1.2M | $1.3M | +6.1% |
Summary: Moreland Hills 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 20.9%, 3 bedroom homes decreased by 9%, 4 bedroom homes decreased by 18%, and 5+ bedroom homes increased by 6.1%.
Median Sold Price Compared To Nearby Cities
| Chagrin Falls Township | $451.1K | $541.3K | +20.0% |
| Chagrin Falls | $451.2K | $541.3K | +20.0% |
| Moreland Hills | $739.7K | $655K | -11.5% |
Housing Supply in Moreland Hills, OH
How many homes are available in Moreland Hills, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 22 | +4.8% |
Summary: The Moreland Hills real estate market had 22 homes for sale in May 2024, a 4.8% 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 5 | 3 | -40.0% |
| 4 Bedrooms | 7 | 9 | +28.6% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Moreland Hills 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 100%, 3 bedroom homes decreased by 40%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Moreland Hills, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Moreland Hills in May 2024, up by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Moreland Hills, OH
How long does it take to sell a home in Moreland Hills, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 3 Days | 7 Days | +133.3% |
Summary: Homes in Moreland Hills had an average of 7 days on market in May 2024, up by 133.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Moreland Hills are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Moreland Hills; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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