Is Erie County, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Erie County has remained a Seller's Market.
Housing Prices in Erie County, OH
How much do homes in Erie County, OH cost?
Median Sold Price
$193,845
$131/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Erie County was $193,845 in February 2024, up 1% from last year, and the median price per square foot was $131.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $170K | $120.7K | -29.0% |
2 Bedrooms | $140K | $150K | +7.1% |
3 Bedrooms | $187K | $185K | -1.1% |
4 Bedrooms | $257.7K | $285K | +10.6% |
5+ Bedrooms | $326.5K | $400K | +22.5% |
Summary: Erie County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 29%, 2 bedroom homes increased by 7.1%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes increased by 22.5%.
Median Sold Price Compared To Nearby Counties
Huron County | $164.6K | $180K | +9.3% |
Sandusky County | $145K | $155K | +6.9% |
Lorain County | $212.9K | $219.4K | +3.1% |
Erie County | $192K | $193.8K | +1.0% |
Housing Supply in Erie County, OH
How many homes are available in Erie County, OH?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
213 | 231 | +8.5% |
Summary: The Erie County real estate market had 231 homes for sale in February 2024, a 8.5% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 4 | +33.3% |
2 Bedrooms | 47 | 59 | +25.5% |
3 Bedrooms | 101 | 106 | +5.0% |
4 Bedrooms | 50 | 52 | +4.0% |
5+ Bedrooms | 12 | 10 | -16.7% |
Summary: The Erie County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 25.5%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 4%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
48 | 53 | +10.4% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Summary: A total of 53 homes were sold or pending in Erie County in February 2024, up by 10.4% month-over-month. Of the 53 sold homes, 47% were sold under asking, 15% were sold at asking, and 38% were sold over asking.
Days on Market for Erie County, OH
How long does it take to sell a home in Erie County, OH?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
67 Days | 51 Days | -24.0% |
Summary: Homes in Erie County had an average of 51 days on market in Feb 2024, down by 24% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During February 2024, 53 homes were sold in Erie County; 43% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.