$4,156 Closing Credit*
$350,000
1,577 SqFt
3 Beds
•2 Full Baths
Holly Pratt, Listing Office: RE/MAX Crossroads Properties
Is Westlake, 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, 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
$377,666
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$10,666(+2.9%)
Key Takeaway
Homes in Westlake have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in Westlake was $377,666 in November 2024, up 2.9% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $87.1K | $127.1K | +46.0% |
| 2 Bedrooms | $187K | $194K | +3.7% |
| 3 Bedrooms | $375K | $360K | -4.0% |
| 4 Bedrooms | $500.5K | $525K | +4.9% |
| 5+ Bedrooms | $805K | $790K | -1.9% |
Summary: Westlake housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 46%, 2 bedroom homes increased by 3.7%, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes decreased by 1.9%.
Median Sold Price Compared To Nearby Cities
| Fairview Park | $250K | $279.5K | +11.8% |
| North Olmsted | $239.7K | $255K | +6.4% |
| Bay Village | $365K | $381.1K | +4.4% |
| Westlake | $367K | $377.6K | +2.9% |
| Rocky River | $350.1K | $360K | +2.8% |
Housing Supply in Westlake, OH
How many homes are available in Westlake, OH?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 124 | 112 | -9.7% |
Summary: The Westlake real estate market had 112 homes for sale in November 2024, a 9.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 6 | +50.0% |
| 2 Bedrooms | 31 | 29 | -6.5% |
| 3 Bedrooms | 42 | 38 | -9.5% |
| 4 Bedrooms | 36 | 28 | -22.2% |
| 5+ Bedrooms | 11 | 11 | 0.0% |
Summary: The Westlake housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 6.5%, 3 bedroom homes decreased by 9.5%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 42 | 29 | -31.0% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westlake, you may be able to get a good deal. 48.3% of homes here sold below asking price last month.
Summary: A total of 29 homes were sold or pending in Westlake in November 2024, down by 31.0% month-over-month. Of the 29 sold homes, 48% were sold under asking, 7% were sold at asking, and 45% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 27 Days | 20 Days | -26.2% |
Summary: Homes in Westlake had an average of 20 days on market in Nov 2024, down by 26.2% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Westlake are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 29 homes were sold in Westlake; 76% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
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