Is North Royalton, 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, North Royalton has remained a Seller's Market.
Key Takeaway
North Royalton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in North Royalton, OH
How much do homes in North Royalton, OH cost?
Median Sold Price
$294,800
$134/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in North Royalton have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in North Royalton was $294,800 in May 2024, up 3.4% 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 | $81K | $104K | +28.4% |
| 2 Bedrooms | $131.5K | $149K | +13.3% |
| 3 Bedrooms | $250K | $282K | +12.8% |
| 4 Bedrooms | $395K | $415.2K | +5.1% |
| 5+ Bedrooms | $450K | $437.5K | -2.8% |
Summary: North Royalton housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.4%, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes decreased by 2.8%.
Median Sold Price Compared To Nearby Cities
| Broadview Heights | $288K | $344K | +19.4% |
| Hinckley | $412.5K | $467.9K | +13.4% |
| Parma | $182.1K | $200K | +9.8% |
| North Royalton | $285K | $294.8K | +3.4% |
Housing Supply in North Royalton, OH
How many homes are available in North Royalton, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 86 | 95 | +10.5% |
Summary: The North Royalton real estate market had 95 homes for sale in May 2024, a 10.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 19 | 21 | +10.5% |
| 3 Bedrooms | 34 | 36 | +5.9% |
| 4 Bedrooms | 23 | 27 | +17.4% |
| 5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The North Royalton housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 17.4%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 32 | +39.1% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Royalton, you may be able to get a good deal. 46.9% of homes here sold below asking price last month.
Summary: A total of 32 homes were sold or pending in North Royalton in May 2024, up by 39.1% month-over-month. Of the 32 sold homes, 47% were sold under asking, 9% were sold at asking, and 44% were sold over asking.
Days on Market for North Royalton, OH
How long does it take to sell a home in North Royalton, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 52 Days | 33 Days | -35.7% |
Summary: Homes in North Royalton had an average of 33 days on market in May 2024, down by 35.7% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North Royalton are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 32 homes were sold in North Royalton; 63% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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