Is Lorain County, 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, Lorain County has remained a Seller's Market.
Housing Prices in Lorain County, OH
How much do homes in Lorain County, OH cost?
Median Sold Price
$217,000
$128/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lorain County was $217,000 in March 2024, up 1% from last year, and the median price per square foot was $128.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $95K | $78K | -17.9% |
2 Bedrooms | $161.1K | $175K | +8.6% |
3 Bedrooms | $189.9K | $196.6K | +3.5% |
4 Bedrooms | $328.1K | $305K | -7.0% |
5+ Bedrooms | $300K | $325K | +8.3% |
Summary: Lorain County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 17.9%, 2 bedroom homes increased by 8.6%, 3 bedroom homes increased by 3.5%, 4 bedroom homes decreased by 7%, and 5+ bedroom homes increased by 8.3%.
Median Sold Price Compared To Nearby Counties
Medina County | $289.7K | $315.4K | +8.9% |
Erie County | $189.9K | $200K | +5.3% |
Cuyahoga County | $181.5K | $189.4K | +4.4% |
Lorain County | $214.9K | $217K | +1.0% |
Housing Supply in Lorain County, OH
How many homes are available in Lorain County, OH?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
870 | 871 | 0.1% |
Summary: The Lorain County real estate market had 871 homes for sale in March 2024, a 0.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 115 | 122 | +6.1% |
3 Bedrooms | 433 | 431 | -0.5% |
4 Bedrooms | 253 | 252 | -0.4% |
5+ Bedrooms | 66 | 63 | -4.5% |
Summary: The Lorain County 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 6.1%, 3 bedroom homes decreased by 0.5%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes decreased by 4.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
237 | 247 | +4.2% |
Asking Price vs. Sold Price
111 Homes Were Sold
Under Asking
39 Homes Were Sold
At Asking
97 Homes Were Sold
Over Asking
Summary: A total of 247 homes were sold or pending in Lorain County in March 2024, up by 4.2% month-over-month. Of the 247 sold homes, 45% were sold under asking, 16% were sold at asking, and 39% were sold over asking.
Days on Market for Lorain County, OH
How long does it take to sell a home in Lorain County, OH?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
43 Days | 42 Days | -3.7% |
Summary: Homes in Lorain County had an average of 42 days on market in Mar 2024, down by 3.7% compared to last year.
Breakdown of Home Sale Times
140 Homes Were Sold
Under 30 Days
67 Homes Were Sold
In 30 - 90 Days
40 Homes Were Sold
Over 90 Days
Summary: During March 2024, 247 homes were sold in Lorain County; 57% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.