Real Estate Market Update for Westlake, OH
Welcome to May's Market Update. Let’s take a look at residential real-estate activity in your area during the month of May. The number of active listings was down 16% from one year earlier, and up 4% from the previous month. This recent increase reflected a larger selection of homes for buyers to choose from. As you can see, the median listing price for the month was 300-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 57%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was 250-thousand dollars. The number of units sold increased 4% year-over-year, and increased 8% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
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Map Information for Westlake, OH
Area Information for Westlake, OH
  • Population: 32,269
  • Median Age: 44.36 yr
  • Median Commute Time: 22.9 mins
  • Educational Climate*: 5
  • Sales Tax: 7.75%
  • Population Density: 2,026/sq mi
  • Population Change Since 2000: 1.73%
  • Closest Airport: Cleveland-hopkins International
  • Closest College: Baldwin Wallace College
  • Closest Jr. College: Virginia Marti College Of Art And Design
  • Median Household Income: $69,052
  • Annual Residential Turnover: 16.53%
  • Median Years in Residence: 4.29 yr
  • Median Home Sales Price: $173,200
  • Closest Major Sports Team: Browns
  • Change Avg. Household Income Since 2000: 7%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for Westlake, OH
Median Age: 44.36 Married: 41% Number of Households: 14,072 Households with Children: 3,674
Community:
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for Westlake, OH

      School Name Distance Type Grades GreatSchools Rating Parent Rating
      Le Chaperon Rouge Westlake Ele 0.4 mi Private K-5 0 4
      Dover Elementary School 0.4 mi Public PRESCHOOL-4 4-5 5
      Lee Burneson Middle School 0.4 mi Public 7-8 4-5 4
      Westlake High School 0.5 mi Public 9-12 4-5 4
      Bassett Elementary School 0.8 mi Public K-4 5 5
      St Paul Lutheran School 0.9 mi Private PRESCHOOL-8 0 5
      Holly Lane Elementary School 1.2 mi Public K-4 4 5
      Westlake Montessori School & Childcare Center 1.3 mi Private K-K 0 0
      Westlake Montessori Elementary School 1.3 mi Private K-K 0 0
      Westshore Montessori School 1.4 mi Private PRESCHOOL-K 0 0
      Parkside Elementary School 2.0 mi Public 5-6 4-5 4
      Hilliard Elementary School 2.3 mi Public PRESCHOOL-4 5 5
      St Bernadette Elementary School 2.4 mi Catholic PRESCHOOL-8 0 4
      The Goddard School 2.4 mi Private PRESCHOOL-K 0 0
      Westside Christian Academy 2.8 mi Private K-8 0 0
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: GreatSchools.org and Onboard Informatics © 2015
      Local Weather for Westlake, OH
        Community information and market data Powered by Onboard Informatics. Copyright ©2015 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.