Real Estate Market Update for Willoughby, OH
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Welcome to August's Market Update,. Let’s take a look at residential real-estate activity in your area during the month of August. The number of active listings was down 8% from one year earlier, and down 15% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just under 130-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 42%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just over 120-thousand dollars. The number of units sold increased 43% year-over-year, and increased 22% 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.
Map Information for Willoughby, OH
Area Information for Willoughby, OH
  • Population: 22,339
  • Median Age: 43.3 yr
  • Median Commute Time: 19.29 mins
  • Educational Climate*: 4
  • Sales Tax: 6.75%
  • Population Density: 2,180/sq mi
  • Population Change Since 2000: -1.03%
  • Closest Airport: Cleveland-hopkins International
  • Closest College: Bryant-stratton College-east Lake Campus
  • Closest Jr. College: Lakeland Community College
  • Median Household Income: $50,884
  • Annual Residential Turnover: 19.21%
  • Median Years in Residence: 3.7 yr
  • Median Home Sales Price: $105,000
  • Closest Major Sports Team: Indians
  • Change Avg. Household Income Since 2000: 17%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for Willoughby, OH
Median Age: 43.3 Married: 34% Number of Households: 10,421 Households with Children: 2,708
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 Willoughby, OH

      School Name Distance Type Grades GreatSchools Rating Parent Rating
      Immaculate Conception School 0.3 mi Catholic K-8 0 5
      The Lake Academy 0.5 mi Public 7-12 0 0
      Willoughby-eastlake Tech Cente 0.5 mi Public 9-12 0 0
      South High School 0.7 mi Public 9-12 3-5 4
      Willoughby Middle School 0.9 mi Public 6-8 4 3
      Andrews Osborne Academy 1.1 mi Private PRESCHOOL-12 0 4
      Edison Elementary School 1.4 mi Public K-5 3 4
      St Mary Magdalene/st Justin Martyr School 1.5 mi Catholic PRESCHOOL-PRESCHOOL 0 4
      Longfellow Elementary School 1.7 mi Public PRESCHOOL-5 4 5
      North High School 2.1 mi Public 9-12 2-5 4
      Grant Elementary School 2.2 mi Public K-5 3-5 3
      Willo-hill Christian School 2.3 mi Private PRESCHOOL-8 0 4
      Wee Care Preschool 2.3 mi Public PRESCHOOL-PRESCHOOL 0 0
      Willowick Middle School 2.4 mi Public 6-8 3-5 3
      Royalview Elementary School 2.4 mi Public K-5 3-5 4
      Washington Elementary School 2.5 mi Public K-5 3-5 4
      Eastlake Middle School 2.8 mi Public 6-8 4 3
      Jefferson Elementary School 2.8 mi Public K-5 3 0
      Kirtland Elementary School 3.0 mi Public PRESCHOOL-5 4-5 5
      Kirtland High School 3.0 mi Public 9-12 4-5 5
      Kirtland Middle School 3.0 mi Public 6-8 4 4
      Peaceful Children Montessori 3.7 mi Catholic PRESCHOOL-8 0 5
      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 © 2014
      Local Weather for Willoughby, OH
        Community information and market data Powered by Onboard Informatics. Copyright ©2014 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.