Is Sylvania 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, Sylvania Township has remained a Seller's Market.
Key Takeaway
Sylvania Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sylvania Township, OH
How much do homes in Sylvania Township, OH cost?
Median Sold Price
$284,466
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sylvania Township have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in Sylvania Township was $284,466 in May 2024, up 2.5% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $100K | $76K | -24.0% |
| 2 Bedrooms | $139.9K | $165K | +17.9% |
| 3 Bedrooms | $238K | $248K | +4.2% |
| 4 Bedrooms | $342.3K | $355K | +3.7% |
| 5+ Bedrooms | $391K | $525K | +34.3% |
Summary: Sylvania Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 24%, 2 bedroom homes increased by 17.9%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 34.3%.
Median Sold Price Compared To Nearby Cities
| Ottawa Hills | $347K | $377.4K | +8.8% |
| Sylvania | $280.3K | $291.1K | +3.8% |
| Sylvania Township | $277.5K | $284.4K | +2.5% |
| Whiteford Township | $273K | $255K | -6.6% |
| Ottawa Lake | $274.5K | $250.8K | -8.6% |
Housing Supply in Sylvania Township, OH
How many homes are available in Sylvania Township, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 153 | 196 | +28.1% |
Summary: The Sylvania Township real estate market had 196 homes for sale in May 2024, a 28.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 18 | 27 | +50.0% |
| 3 Bedrooms | 45 | 64 | +42.2% |
| 4 Bedrooms | 75 | 89 | +18.7% |
| 5+ Bedrooms | 14 | 15 | +7.1% |
Summary: The Sylvania Township 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 50%, 3 bedroom homes increased by 42.2%, 4 bedroom homes increased by 18.7%, and 5+ bedroom homes increased by 7.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 46 | 56 | +21.7% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
37 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sylvania Township, you could pay more than the asking price. 66.1% of homes here sold above asking price last month.
Summary: A total of 56 homes were sold or pending in Sylvania Township in May 2024, up by 21.7% month-over-month. Of the 56 sold homes, 20% were sold under asking, 14% were sold at asking, and 66% were sold over asking.
Days on Market for Sylvania Township, OH
How long does it take to sell a home in Sylvania Township, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 47 Days | 40 Days | -15.9% |
Summary: Homes in Sylvania Township had an average of 40 days on market in May 2024, down by 15.9% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
31 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Sylvania Township has remained consistent over time.
Summary: During May 2024, 56 homes were sold in Sylvania Township; 38% of homes were sold within 30 days, 55% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
Copyright 2024 NORIS. All rights reserved. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of the NORIS MLS. Real estate listings held by brokerage firms other than this brokerage are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. This broker participates in Northwest Ohio Real Estate Information Systems, Inc. Broker Reciprocity program, allowing us to display other broker’s listings on our site.