$115,000
4.60 Acres
Land
Stephanie A Snavely, Listing Office: Berkshire Hathaway HomeServices Professional Realty
Is Solon, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since November 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 November 2024, down 5.9% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $145K | N/A |
| 2 Bedrooms | $217.5K | $260K | +19.5% |
| 3 Bedrooms | $326.1K | $320K | -1.9% |
| 4 Bedrooms | $459K | $482.5K | +5.1% |
| 5+ Bedrooms | $630K | $700K | +11.1% |
Summary: Solon housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19.5%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 11.1%.
Median Sold Price Compared To Nearby Cities
| Bainbridge Township | $435K | $489.9K | +12.6% |
| Chagrin Falls | $500K | $549.6K | +9.9% |
| 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
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 75 | 66 | -12.0% |
Summary: The Solon real estate market had 66 homes for sale in November 2024, a 12.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 25 | 22 | -12.0% |
| 4 Bedrooms | 36 | 32 | -11.1% |
| 5+ Bedrooms | 9 | 8 | -11.1% |
Summary: The Solon housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 12%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 17 | 20 | +17.6% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Solon, you may be able to get a good deal. 55% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in Solon in November 2024, up by 17.6% month-over-month. Of the 20 sold homes, 55% were sold under asking, 5% were sold at asking, and 40% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 54 Days | 37 Days | -31.8% |
Summary: Homes in Solon had an average of 37 days on market in Nov 2024, down by 31.8% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
9 Homes Were 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 November 2024, 20 homes were sold in Solon; 50% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
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