Is Silver Lake, 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, Silver Lake has remained a Seller's Market.
Housing Prices in Silver Lake, OH
How much do homes in Silver Lake, OH cost?
Median Sold Price
$363,000
$157/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Silver Lake was $363,000 in May 2024, up 19% from last year, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $279K | $325K | +16.5% |
3 Bedrooms | $297K | $358.5K | +20.7% |
4 Bedrooms | $406K | $399.9K | -1.5% |
5+ Bedrooms | $570K | $1.3M | +132.1% |
Summary: Silver Lake 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 increased by 16.5%, 3 bedroom homes increased by 20.7%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes increased by 132.1%.
Median Sold Price Compared To Nearby Cities
Silver Lake | $305K | $363K | +19.0% |
Cuyahoga Falls | $189.2K | $210.9K | +11.5% |
Munroe Falls | $226.7K | $251.5K | +10.9% |
Stow | $250.2K | $260K | +3.9% |
Housing Supply in Silver Lake, OH
How many homes are available in Silver Lake, OH?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
12 | 9 | -25.0% |
Summary: The Silver Lake real estate market had 9 homes for sale in May 2024, a 25.0% decrease 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 | 0 | 0 | 0.0% |
3 Bedrooms | 5 | 3 | -40.0% |
4 Bedrooms | 6 | 5 | -16.7% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Silver Lake 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 remained the same, 3 bedroom homes decreased by 40%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4 | 4 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Silver Lake in May 2024, the same as the previous month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Silver Lake, OH
How long does it take to sell a home in Silver Lake, OH?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
5 Days | 18 Days | +260.0% |
Summary: Homes in Silver Lake had an average of 18 days on market in May 2024, up by 260% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 4 homes were sold in Silver Lake; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.