Is Painesville, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Painesville was a Neutral Market.
Key Takeaway
Painesville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Painesville, OH
How much do homes in Painesville, OH cost?
Median Sold Price
$196,000
$120/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Painesville have sold for 5% more than they did a year ago.
Summary: The median home sold price in Painesville was $196,000 in April 2024, up 5% from last year, and the median price per square foot was $120.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $70K | $127.5K | +82.1% |
| 2 Bedrooms | $109K | $125K | +14.7% |
| 3 Bedrooms | $179K | $196K | +9.5% |
| 4 Bedrooms | $296.8K | $299.5K | +0.9% |
| 5+ Bedrooms | $229.9K | $300K | +30.5% |
Summary: Painesville housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 82.1%, 2 bedroom homes increased by 14.7%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 0.9%, and 5+ bedroom homes increased by 30.5%.
Median Sold Price Compared To Nearby Cities
| Painesville Township | $185.2K | $198.5K | +7.2% |
| Concord Township | $305.5K | $321.6K | +5.3% |
| Painesville | $186.6K | $196K | +5.0% |
Housing Supply in Painesville, OH
How many homes are available in Painesville, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 103 | 100 | -2.9% |
Summary: The Painesville real estate market had 100 homes for sale in April 2024, a 2.9% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 14 | 18 | +28.6% |
| 3 Bedrooms | 60 | 57 | -5.0% |
| 4 Bedrooms | 24 | 16 | -33.3% |
| 5+ Bedrooms | 5 | 8 | +60.0% |
Summary: The Painesville housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 28.6%, 3 bedroom homes decreased by 5%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes increased by 60%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 35 | 29 | -17.1% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Painesville, you may be able to get a good deal. 51.7% of homes here sold below asking price last month.
Summary: A total of 29 homes were sold or pending in Painesville in April 2024, down by 17.1% month-over-month. Of the 29 sold homes, 52% were sold under asking, 14% were sold at asking, and 34% were sold over asking.
Days on Market for Painesville, OH
How long does it take to sell a home in Painesville, OH?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 35 Days | 49 Days | +38.0% |
Summary: Homes in Painesville had an average of 49 days on market in Apr 2024, up by 38% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Painesville are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 29 homes were sold in Painesville; 48% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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