Is Avon Lake, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Avon Lake has remained a Seller's Market.
Key Takeaway
Avon Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Avon Lake, OH
How much do homes in Avon Lake, OH cost?
Median Sold Price
$365,000
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Avon Lake have sold for 10.6% more than they did a year ago.
Summary: The median home sold price in Avon Lake was $365,000 in March 2024, up 10.6% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $132K | $80K | -39.4% |
| 2 Bedrooms | $201.9K | $257.5K | +27.5% |
| 3 Bedrooms | $277.2K | $320K | +15.4% |
| 4 Bedrooms | $500K | $515K | +3.0% |
| 5+ Bedrooms | $587K | $560K | -4.6% |
Summary: Avon Lake housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 39.4%, 2 bedroom homes increased by 27.5%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 3%, and 5+ bedroom homes decreased by 4.6%.
Median Sold Price Compared To Nearby Cities
| Bay Village | $326.4K | $372.7K | +14.2% |
| Avon Lake | $330K | $365K | +10.6% |
Housing Supply in Avon Lake, OH
How many homes are available in Avon Lake, OH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 62 | 72 | +16.1% |
Summary: The Avon Lake real estate market had 72 homes for sale in March 2024, a 16.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 14 | 20 | +42.9% |
| 3 Bedrooms | 21 | 23 | +9.5% |
| 4 Bedrooms | 24 | 26 | +8.3% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Avon Lake housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 42.9%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 22 | +29.4% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Avon Lake, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in Avon Lake in March 2024, up by 29.4% month-over-month. Of the 22 sold homes, 50% were sold under asking, 18% were sold at asking, and 32% were sold over asking.
Days on Market for Avon Lake, OH
How long does it take to sell a home in Avon Lake, OH?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 50 Days | 19 Days | -62.3% |
Summary: Homes in Avon Lake had an average of 19 days on market in Mar 2024, down by 62.3% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Avon Lake are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 22 homes were sold in Avon Lake; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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