Is Willoughby Hills, 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, Willoughby Hills has remained a Seller's Market.
Key Takeaway
Willoughby Hills is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Willoughby Hills, OH
How much do homes in Willoughby Hills, OH cost?
Median Sold Price
$326,000
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Willoughby Hills have sold for 23% more than they did a year ago.
Summary: The median home sold price in Willoughby Hills was $326,000 in May 2024, up 23% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $237.5K | $215K | -9.5% |
| 3 Bedrooms | $232K | $272.5K | +17.5% |
| 4 Bedrooms | $370K | $377.5K | +2.0% |
| 5+ Bedrooms | $525K | $442.5K | -15.7% |
Summary: Willoughby 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 9.5%, 3 bedroom homes increased by 17.5%, 4 bedroom homes increased by 2%, and 5+ bedroom homes decreased by 15.7%.
Median Sold Price Compared To Nearby Cities
| Willoughby Hills | $265K | $326K | +23.0% |
| Kirtland | $285K | $350K | +22.8% |
| Wickliffe | $168.5K | $185K | +9.8% |
| Willoughby | $245K | $238K | -2.9% |
Housing Supply in Willoughby Hills, OH
How many homes are available in Willoughby Hills, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 22 | 0.0% |
Summary: The Willoughby Hills real estate market had 22 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 | 3 | 3 | 0.0% |
| 3 Bedrooms | 10 | 9 | -10.0% |
| 4 Bedrooms | 8 | 9 | +12.5% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Willoughby 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 remained the same, 3 bedroom homes decreased by 10%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 4 | -42.9% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Willoughby Hills, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Willoughby Hills in May 2024, down by 42.9% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Willoughby Hills, OH
How long does it take to sell a home in Willoughby Hills, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 34 Days | 95 Days | +180.1% |
Summary: Homes in Willoughby Hills had an average of 95 days on market in May 2024, up by 180.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Willoughby Hills are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Willoughby Hills; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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