Is Litchfield, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Litchfield was a Seller's Market.
Key Takeaway
Litchfield is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Litchfield, OH
How much do homes in Litchfield, OH cost?
Median Sold Price
$387,950
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Litchfield have sold for 3.7% more than they did a year ago.
Summary: The median home sold price in Litchfield was $387,950 in May 2024, up 3.7% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $417.5K | N/A |
| 3 Bedrooms | $384.9K | $362.5K | -5.8% |
| 4 Bedrooms | $310K | $422.4K | +36.3% |
| 5+ Bedrooms | $389.9K | $477.5K | +22.5% |
Summary: Litchfield 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 did not change, 3 bedroom homes decreased by 5.8%, 4 bedroom homes increased by 36.3%, and 5+ bedroom homes increased by 22.5%.
Median Sold Price Compared To Nearby Cities
| Spencer Township | $297.5K | $320K | +7.6% |
| Litchfield | $374K | $387.9K | +3.7% |
| Litchfield Township | $374K | $377.2K | +0.9% |
Housing Supply in Litchfield, OH
How many homes are available in Litchfield, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 8 | +60.0% |
Summary: The Litchfield real estate market had 8 homes for sale in May 2024, a 60.0% increase 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 3 | 5 | +66.7% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Litchfield 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 increased by 66.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Litchfield, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Litchfield in May 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Litchfield, OH
How long does it take to sell a home in Litchfield, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 17 Days | 92 Days | +430.8% |
Summary: Homes in Litchfield had an average of 92 days on market in May 2024, up by 430.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Litchfield are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 1 homes were sold in Litchfield; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
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