Is Lafayette Township, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lafayette Township has remained a Seller's Market.
Key Takeaway
Lafayette Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lafayette Township, OH
How much do homes in Lafayette Township, OH cost?
Median Sold Price
$326,700
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lafayette Township have sold for 0.5% more than they did a year ago.
Summary: The median home sold price in Lafayette Township was $326,700 in May 2024, up 0.5% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $215K | $185K | -14.0% |
| 3 Bedrooms | $310K | $324.9K | +4.8% |
| 4 Bedrooms | $406K | $339.9K | -16.3% |
| 5+ Bedrooms | $298.7K | $669K | +123.9% |
Summary: Lafayette Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 14%, 3 bedroom homes increased by 4.8%, 4 bedroom homes decreased by 16.3%, and 5+ bedroom homes increased by 123.9%.
Median Sold Price Compared To Nearby Cities
| Medina City Township | $245.7K | $280K | +13.9% |
| Medina | $325K | $350K | +7.7% |
| York Township | $380K | $405K | +6.6% |
| Chippewa Lake | $235.2K | $247.5K | +5.2% |
| Lafayette Township | $325K | $326.7K | 0.5% |
Housing Supply in Lafayette Township, OH
How many homes are available in Lafayette Township, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 22 | +4.8% |
Summary: The Lafayette Township real estate market had 22 homes for sale in May 2024, a 4.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 9 | 12 | +33.3% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Lafayette Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 8 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lafayette Township, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 8 homes were sold or pending in Lafayette Township in May 2024, up by 100.0% month-over-month. Of the 8 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for Lafayette Township, OH
How long does it take to sell a home in Lafayette Township, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 13 Days | 43 Days | +215.4% |
Summary: Homes in Lafayette Township had an average of 43 days on market in May 2024, up by 215.4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lafayette Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Lafayette Township; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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