$3,266 Closing Credit*
$275,000
3 Beds
•1 Full Bath, 1 Partial
Libbie Tenaglia, Listing Office: Russell Real Estate Services
Is Independence, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Independence has remained a Seller's Market.
Key Takeaway
Independence is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Independence, OH
How much do homes in Independence, OH cost?
Median Sold Price
$335,000
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$48,000(+16.7%)
Key Takeaway
Homes in Independence have sold for 16.7% more than they did a year ago.
Summary: The median home sold price in Independence was $335,000 in October 2024, up 16.7% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $200K | $210K | +5.0% |
| 3 Bedrooms | $265K | $307K | +15.8% |
| 4 Bedrooms | $350K | $475K | +35.7% |
| 5+ Bedrooms | $376.2K | $568.5K | +51.1% |
Summary: Independence housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 35.7%, and 5+ bedroom homes increased by 51.1%.
Median Sold Price Compared To Nearby Cities
| Independence | $287K | $335K | +16.7% |
| Seven Hills | $266.6K | $311K | +16.7% |
Housing Supply in Independence, OH
How many homes are available in Independence, OH?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 30 | 28 | -6.7% |
Summary: The Independence real estate market had 28 homes for sale in October 2024, a 6.7% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 13 | 13 | 0.0% |
| 4 Bedrooms | 9 | 7 | -22.2% |
| 5+ Bedrooms | 6 | 4 | -33.3% |
Summary: The Independence housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 7 | -12.5% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Independence, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Independence in October 2024, down by 12.5% month-over-month. Of the 7 sold homes, 86% were sold under asking, 14% were sold at asking, and 0% were sold over asking.
Days on Market for Independence, OH
How long does it take to sell a home in Independence, OH?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 48 Days | +124.5% |
Summary: Homes in Independence had an average of 48 days on market in Oct 2024, up by 124.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Independence are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 7 homes were sold in Independence; 57% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
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