Is Painesville Township, OH a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Painesville Township is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Painesville Township has remained a Seller's Market.

Key Takeaway

Painesville Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Painesville Township, OH

How much do homes in Painesville Township, OH cost?

Median Sold Price

$208,800

$129/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$13,175(+6.7%)

Key Takeaway

Homes in Painesville Township have sold for 6.7% more than they did a year ago.

Summary: The median home sold price in Painesville Township was $208,800 in November 2024, up 6.7% from last year, and the median price per square foot was $129.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $119.9K$126K
+5.1%
2 $132K$154K
+16.7%
3 $196K$200K
+2.0%
4 $295K$325K
+10.2%
5+ $265K$300.5K
+13.4%

Summary: Painesville Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.1%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes increased by 13.4%.

Median Sold Price Compared To Nearby Cities

Concord Township
+9.8%
Painesville
+9.0%
Painesville Township
+6.7%
Fairport Harbor
+5.7%

Housing Supply in Painesville Township, OH

How many homes are available in Painesville Township, OH?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
141125-11.3%

Summary: The Painesville Township real estate market had 125 homes for sale in November 2024, a 11.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 2923
-20.7%
3 8672
-16.3%
4 2122
+4.8%
5+ 58
+60.0%

Summary: The Painesville Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20.7%, 3 bedroom homes decreased by 16.3%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 60%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
4336-16.3%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Painesville Township, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.

Summary: A total of 36 homes were sold or pending in Painesville Township in November 2024, down by 16.3% month-over-month. Of the 36 sold homes, 42% were sold under asking, 25% were sold at asking, and 33% were sold over asking.

Days on Market for Painesville Township, OH

How long does it take to sell a home in Painesville Township, OH?

Average Sale Time

Nov 2023Nov 2024CHANGE
36 Days30 Days-16.6%

Summary: Homes in Painesville Township had an average of 30 days on market in Nov 2024, down by 16.6% compared to last year.

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Painesville Township are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 36 homes were sold in Painesville Township; 58% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 13 Days Ago

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