Is Ravenna Township, 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, Ravenna Township has remained a Seller's Market.
Key Takeaway
Ravenna Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ravenna Township, OH
How much do homes in Ravenna Township, OH cost?
Median Sold Price
$180,000
$118/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Ravenna Township have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in Ravenna Township was $180,000 in May 2024, up 8.5% from last year, and the median price per square foot was $118.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | $51.8K | -65.4% |
| 2 Bedrooms | $107.5K | $117.5K | +9.3% |
| 3 Bedrooms | $173.2K | $186.5K | +7.6% |
| 4 Bedrooms | $237K | $250K | +5.5% |
| 5+ Bedrooms | $157.9K | $180K | +14.0% |
Summary: Ravenna Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 65.4%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 14%.
Median Sold Price Compared To Nearby Cities
| Shalersville Township | $181.5K | $224.9K | +23.9% |
| Ravenna | $165.3K | $180K | +8.9% |
| Ravenna Township | $165.8K | $180K | +8.5% |
| Rootstown Township | $257.7K | $251K | -2.6% |
Housing Supply in Ravenna Township, OH
How many homes are available in Ravenna Township, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 70 | 85 | +21.4% |
Summary: The Ravenna Township real estate market had 85 homes for sale in May 2024, a 21.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 3 | +100.0% |
| 2 Bedrooms | 9 | 11 | +22.2% |
| 3 Bedrooms | 41 | 46 | +12.2% |
| 4 Bedrooms | 15 | 21 | +40.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Ravenna Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 40%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 35 | +118.8% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ravenna Township, you may be able to get a good deal. 51.4% of homes here sold below asking price last month.
Summary: A total of 35 homes were sold or pending in Ravenna Township in May 2024, up by 118.8% month-over-month. Of the 35 sold homes, 51% were sold under asking, 14% were sold at asking, and 34% were sold over asking.
Days on Market for Ravenna Township, OH
How long does it take to sell a home in Ravenna Township, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 32 Days | 46 Days | +46.5% |
Summary: Homes in Ravenna Township had an average of 46 days on market in May 2024, up by 46.5% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ravenna Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 35 homes were sold in Ravenna Township; 43% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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