$3,699 Closing Credit*
$311,500
2,604 SqFt
3 Beds
•1 Full Bath, 1 Partial
Linda Sue Cover, Listing Office: Coldwell Banker Schmidt Realty
Is Novelty, 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, Novelty has remained a Seller's Market.
Key Takeaway
Novelty is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Novelty, OH
How much do homes in Novelty, OH cost?
Median Sold Price
$440,000
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$62,500(+16.6%)
Key Takeaway
Homes in Novelty have sold for 16.6% more than they did a year ago.
Summary: The median home sold price in Novelty was $440,000 in October 2024, up 16.6% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $850K | $302.5K | -64.4% |
| 2 Bedrooms | $240K | $195K | -18.8% |
| 3 Bedrooms | $279.9K | $380K | +35.7% |
| 4 Bedrooms | $491.5K | $478K | -2.7% |
| 5+ Bedrooms | $887.5K | $751K | -15.4% |
Summary: Novelty housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 64.4%, 2 bedroom homes decreased by 18.8%, 3 bedroom homes increased by 35.7%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes decreased by 15.4%.
Median Sold Price Compared To Nearby Cities
| South Russell | $398.4K | $532.4K | +33.6% |
| Novelty | $377.5K | $440K | +16.6% |
| Russell Township | $425K | $476K | +12.0% |
| Chesterland | $316K | $350K | +10.8% |
Housing Supply in Novelty, OH
How many homes are available in Novelty, OH?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 | 16 | -20.0% |
Summary: The Novelty real estate market had 16 homes for sale in October 2024, a 20.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 8 | 5 | -37.5% |
| 5+ Bedrooms | 6 | 4 | -33.3% |
Summary: The Novelty housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 37.5%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 3 | -62.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Novelty, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Novelty in October 2024, down by 62.5% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Novelty, OH
How long does it take to sell a home in Novelty, OH?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 25 Days | 66 Days | +159.7% |
Summary: Homes in Novelty had an average of 66 days on market in Oct 2024, up by 159.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Novelty are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in Novelty; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
Copyright 2024 MLS Now. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Buyer to verify all information. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). The photos may be altered, edited, enhanced or virtually staged.