Is Sheffield Lake, OH a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sheffield Lake is a seller's market

Buyer's
Market

Difference Since October 2021

Since last year, Sheffield Lake has remained a Seller's Market.

Key Takeaway

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

How much do homes in Sheffield Lake, OH cost?

Median Sold Price

$175,500

$121/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$16,500(+10.4%)

Key Takeaway

Homes in Sheffield Lake have sold for 10.4% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 --
N/A
2 $101.1K$130K
+28.6%
3 $155K$172.5K
+11.3%
4 $195.5K$205K
+4.8%
5+ $290K-
N/A

Median Sold Price Compared To Nearby Cities

Lorain
+14.7%
Sheffield Lake
+10.4%
Avon Lake
-3.5%

How many homes are available in Sheffield Lake, OH?

Number of Homes For Sale

Sep 2022Oct 2022%
3724-35.1%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 00
0.0%
2 43
-25.0%
3 2116
-23.8%
4 125
-58.3%
5+ 00
0.0%

Number of Homes Sold

Sep 2022Oct 2022%
177-58.8%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Sheffield Lake, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.

Average Sale Time

Oct 2021Oct 2022%
33 Days73 Days+118.7%

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Sheffield Lake, OH

Sheffield Lake, OH has 24 homes on the market. The inventory of homes for sale in Sheffield Lake, OH between September 2022 and October 2022 decreased by 35.1%. In October 2022 median list price was $175,500 and the average listing age was 73 days. Listing prices have changed in this real estate market between September 2022 and October 2022: the cost of 1 bedroom properties went up by 0%, the cost of 2 bedrooms properties went up by 28.6%, 3 bedrooms properties prices increased by 11.3%, prices of 4 bedrooms properties increased by 4.8%, 5 bedrooms properties prices increased by 0%. Volume of homes for sale in this real estate market have seen the following changes: the quantity of 1 bedroom homes have not changed, number of 2 bedrooms homes decreased by 25%, volume of 3 bedrooms homes went down by 23.8%, 4 bedrooms homes became 58.3% less available, 5 bedrooms homes inventory did not change. Over 4 listings were sold over their listed price in October 2022 in Sheffield Lake, OH. In the same period over 3 listings were sold below the listed price and 0 listings were sold for the listed price.

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