Is Olmsted Falls, 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, Olmsted Falls has remained a Seller's Market.
Key Takeaway
Olmsted Falls is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Olmsted Falls, OH
How much do homes in Olmsted Falls, OH cost?
Median Sold Price
$247,500
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Olmsted Falls have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in Olmsted Falls was $247,500 in May 2024, up 5.3% 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 | $129.9K | $143K | +10.1% |
| 2 Bedrooms | $172.2K | $218.5K | +26.9% |
| 3 Bedrooms | $237K | $235.5K | -0.6% |
| 4 Bedrooms | $297.2K | $341.2K | +14.8% |
| 5+ Bedrooms | $232.5K | $614.9K | +164.5% |
Summary: Olmsted Falls housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.1%, 2 bedroom homes increased by 26.9%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 164.5%.
Median Sold Price Compared To Nearby Cities
| Berea | $195.7K | $233.4K | +19.3% |
| Olmsted Township | $221.5K | $262K | +18.3% |
| Olmsted Falls | $235K | $247.5K | +5.3% |
| Columbia Station | $425K | $440K | +3.5% |
Housing Supply in Olmsted Falls, OH
How many homes are available in Olmsted Falls, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 35 | 35 | 0.0% |
Summary: The Olmsted Falls real estate market had 35 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 9 | +28.6% |
| 3 Bedrooms | 13 | 12 | -7.7% |
| 4 Bedrooms | 14 | 13 | -7.1% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Olmsted Falls 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 28.6%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 8 | -20.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Olmsted Falls, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Olmsted Falls in May 2024, down by 20.0% month-over-month. Of the 8 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Olmsted Falls, OH
How long does it take to sell a home in Olmsted Falls, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 10 Days | 24 Days | +132.3% |
Summary: Homes in Olmsted Falls had an average of 24 days on market in May 2024, up by 132.3% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Olmsted Falls are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Olmsted Falls; 88% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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