$6,530 Closing Credit*
$549,900
4,220 SqFt
4 Beds
•2 Full Baths, 1 Partial
Michael A Henry, Listing Office: EXP Realty, LLC.
Is Solon, 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, Solon has remained a Seller's Market.
Key Takeaway
Solon is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Solon, OH
How much do homes in Solon, OH cost?
Median Sold Price
$400,000
$143/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$25,000(-5.9%)
Key Takeaway
Homes in Solon have sold for 5.9% less than they did a year ago.
Summary: The median home sold price in Solon was $400,000 in October 2024, down 5.9% from last year, and the median price per square foot was $143.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $145K | N/A |
| 2 Bedrooms | $210K | $227.7K | +8.5% |
| 3 Bedrooms | $318K | $310.5K | -2.4% |
| 4 Bedrooms | $456K | $469K | +2.9% |
| 5+ Bedrooms | $630K | $592.5K | -6.0% |
Summary: Solon 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 8.5%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes decreased by 6%.
Median Sold Price Compared To Nearby Cities
| Bainbridge Township | $428.5K | $490K | +14.4% |
| Chagrin Falls | $482.9K | $542K | +12.2% |
| Moreland Hills | $689.7K | $650K | -5.8% |
| Solon | $425K | $400K | -5.9% |
Housing Supply in Solon, OH
How many homes are available in Solon, OH?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 60 | 75 | +25.0% |
Summary: The Solon real estate market had 75 homes for sale in October 2024, a 25.0% increase 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 | 4 | 5 | +25.0% |
| 3 Bedrooms | 24 | 24 | 0.0% |
| 4 Bedrooms | 26 | 38 | +46.2% |
| 5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The Solon 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 25%, 3 bedroom homes remained the same, 4 bedroom homes increased by 46.2%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 15 | -6.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Solon, you may be able to get a good deal. 53.3% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Solon in October 2024, down by 6.3% month-over-month. Of the 15 sold homes, 53% were sold under asking, 13% were sold at asking, and 33% were sold over asking.
Days on Market for Solon, OH
How long does it take to sell a home in Solon, OH?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 38 Days | 22 Days | -39.8% |
Summary: Homes in Solon had an average of 22 days on market in Oct 2024, down by 39.8% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Solon are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 15 homes were sold in Solon; 87% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
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