$10,000 Closing Credit*
$899,000
6,354 SqFt
5 Beds
•5 Full Baths
Gregory Erlanger, Listing Office: Keller Williams Citywide
Is Westlake, 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, Westlake has remained a Seller's Market.
Key Takeaway
Westlake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Westlake, OH
How much do homes in Westlake, OH cost?
Median Sold Price
$380,000
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$15,000(+4.1%)
Key Takeaway
Homes in Westlake have sold for 4.1% more than they did a year ago.
Summary: The median home sold price in Westlake was $380,000 in October 2024, up 4.1% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $88.5K | $128.5K | +45.1% |
| 2 Bedrooms | $185K | $194K | +4.9% |
| 3 Bedrooms | $375K | $366.5K | -2.3% |
| 4 Bedrooms | $499.9K | $521.2K | +4.3% |
| 5+ Bedrooms | $805K | $760K | -5.6% |
Summary: Westlake housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 45.1%, 2 bedroom homes increased by 4.9%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes decreased by 5.6%.
Median Sold Price Compared To Nearby Cities
| Fairview Park | $249.5K | $275K | +10.2% |
| North Olmsted | $238K | $255K | +7.1% |
| Bay Village | $365K | $380.2K | +4.2% |
| Westlake | $365K | $380K | +4.1% |
| Rocky River | $346K | $360K | +4.0% |
Housing Supply in Westlake, OH
How many homes are available in Westlake, OH?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 122 | 126 | +3.3% |
Summary: The Westlake real estate market had 126 homes for sale in October 2024, a 3.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 27 | 31 | +14.8% |
| 3 Bedrooms | 44 | 42 | -4.5% |
| 4 Bedrooms | 37 | 39 | +5.4% |
| 5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The Westlake 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 14.8%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 36 | 40 | +11.1% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westlake, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 40 homes were sold or pending in Westlake in October 2024, up by 11.1% month-over-month. Of the 40 sold homes, 60% were sold under asking, 13% were sold at asking, and 28% were sold over asking.
Days on Market for Westlake, OH
How long does it take to sell a home in Westlake, OH?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 36 Days | 29 Days | -18.4% |
Summary: Homes in Westlake had an average of 29 days on market in Oct 2024, down by 18.4% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Westlake are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 40 homes were sold in Westlake; 70% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
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