Is Lorain County, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Lorain County has remained a Seller's Market.
Housing Prices in Lorain County, OH
How much do homes in Lorain County, OH cost?
Median Sold Price
$219,030
$129/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lorain County was $219,030 in April 2024, up 1.8% from last year, and the median price per square foot was $129.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $95K | $79K | -16.8% |
2 Bedrooms | $165K | $177.6K | +7.7% |
3 Bedrooms | $190.1K | $197.1K | +3.7% |
4 Bedrooms | $328.6K | $305K | -7.2% |
5+ Bedrooms | $300K | $337.5K | +12.5% |
Summary: Lorain County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.8%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 3.7%, 4 bedroom homes decreased by 7.2%, and 5+ bedroom homes increased by 12.5%.
Median Sold Price Compared To Nearby Counties
Medina County | $289.9K | $319.6K | +10.2% |
Erie County | $189.9K | $200.3K | +5.5% |
Cuyahoga County | $182.8K | $189.6K | +3.7% |
Lorain County | $215.1K | $219K | +1.8% |
Housing Supply in Lorain County, OH
How many homes are available in Lorain County, OH?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
912 | 946 | +3.7% |
Summary: The Lorain County real estate market had 946 homes for sale in April 2024, a 3.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 4 | 0.0% |
2 Bedrooms | 122 | 124 | +1.6% |
3 Bedrooms | 455 | 484 | +6.4% |
4 Bedrooms | 267 | 277 | +3.7% |
5+ Bedrooms | 64 | 57 | -10.9% |
Summary: The Lorain County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes decreased by 10.9%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
270 | 277 | +2.6% |
Asking Price vs. Sold Price
113 Homes Were Sold
Under Asking
36 Homes Were Sold
At Asking
128 Homes Were Sold
Over Asking
Summary: A total of 277 homes were sold or pending in Lorain County in April 2024, up by 2.6% month-over-month. Of the 277 sold homes, 41% were sold under asking, 13% were sold at asking, and 46% were sold over asking.
Days on Market for Lorain County, OH
How long does it take to sell a home in Lorain County, OH?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
45 Days | 41 Days | -8.7% |
Summary: Homes in Lorain County had an average of 41 days on market in Apr 2024, down by 8.7% compared to last year.
Breakdown of Home Sale Times
168 Homes Were Sold
Under 30 Days
73 Homes Were Sold
In 30 - 90 Days
36 Homes Were Sold
Over 90 Days
Summary: During April 2024, 277 homes were sold in Lorain County; 61% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.