Is Willowick, 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, Willowick has remained a Seller's Market.
Key Takeaway
Willowick is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Willowick, OH
How much do homes in Willowick, OH cost?
Median Sold Price
$183,500
$125/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Willowick have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in Willowick was $183,500 in May 2024, up 4.9% from last year, and the median price per square foot was $125.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $57K | $51.5K | -9.6% |
| 2 Bedrooms | $126K | $166K | +31.7% |
| 3 Bedrooms | $172.7K | $180.5K | +4.5% |
| 4 Bedrooms | $185K | $189.5K | +2.4% |
| 5+ Bedrooms | $201.5K | $243.6K | +20.9% |
Summary: Willowick housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.6%, 2 bedroom homes increased by 31.7%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 20.9%.
Median Sold Price Compared To Nearby Cities
| Wickliffe | $168.5K | $185K | +9.8% |
| Eastlake | $171.5K | $187.5K | +9.3% |
| Willowick | $175K | $183.5K | +4.9% |
| Euclid | $128.9K | $135K | +4.7% |
| Willoughby | $245K | $238K | -2.9% |
Housing Supply in Willowick, OH
How many homes are available in Willowick, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 58 | 51 | -12.1% |
Summary: The Willowick real estate market had 51 homes for sale in May 2024, a 12.1% decrease 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 | 7 | 7 | 0.0% |
| 3 Bedrooms | 43 | 39 | -9.3% |
| 4 Bedrooms | 8 | 5 | -37.5% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Willowick 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 9.3%, 4 bedroom homes decreased by 37.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 25 | +38.9% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Willowick, you could pay more than the asking price. 68% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in Willowick in May 2024, up by 38.9% month-over-month. Of the 25 sold homes, 20% were sold under asking, 12% were sold at asking, and 68% were sold over asking.
Days on Market for Willowick, OH
How long does it take to sell a home in Willowick, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 17 Days | 23 Days | +31.9% |
Summary: Homes in Willowick had an average of 23 days on market in May 2024, up by 31.9% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Willowick are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 25 homes were sold in Willowick; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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