Is Vermilion, 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, Vermilion has remained a Seller's Market.
Housing Prices in Vermilion, OH
How much do homes in Vermilion, OH cost?
Median Sold Price
$215,000
$137/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Vermilion was $215,000 in April 2024, up 1.1% from last year, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $121K | $95K | -21.5% |
2 Bedrooms | $178K | $173.2K | -2.7% |
3 Bedrooms | $190K | $186.2K | -2.0% |
4 Bedrooms | $272.5K | $285K | +4.6% |
5+ Bedrooms | $525K | $437.5K | -16.7% |
Summary: Vermilion housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 21.5%, 2 bedroom homes decreased by 2.7%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes decreased by 16.7%.
Median Sold Price Compared To Nearby Cities
Lorain | $132.5K | $139.9K | +5.5% |
Vermilion | $206.5K | $215K | +4.1% |
Vermilion Township | $206.5K | $210K | +1.7% |
Vermilion | $212.7K | $215K | +1.1% |
Brownhelm Township | $239.9K | $225K | -6.2% |
Housing Supply in Vermilion, OH
How many homes are available in Vermilion, OH?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
52 | 59 | +13.5% |
Summary: The Vermilion real estate market had 59 homes for sale in April 2024, a 13.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 17 | 17 | 0.0% |
3 Bedrooms | 23 | 28 | +21.7% |
4 Bedrooms | 9 | 8 | -11.1% |
5+ Bedrooms | 1 | 4 | +300.0% |
Summary: The Vermilion 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 remained the same, 3 bedroom homes increased by 21.7%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 300%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 16 | +100.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in Vermilion in April 2024, up by 100.0% month-over-month. Of the 16 sold homes, 44% were sold under asking, 38% were sold at asking, and 19% were sold over asking.
Days on Market for Vermilion, OH
How long does it take to sell a home in Vermilion, OH?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
19 Days | 38 Days | +94.6% |
Summary: Homes in Vermilion had an average of 38 days on market in Apr 2024, up by 94.6% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 16 homes were sold in Vermilion; 69% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.